Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against Binance−0.358%56s7-day average −0.188% · you buy dearer than you sell

Net, funding: paid 7d − costs−$257as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2572.571% of the position

Long on Binance Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.021%−$2 · spread now −0.358%, 7d avg −0.188%

Together, before fees−0.021%−$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 0.170% cheaper against Binance than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of −0.188%. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SPXUSDT	0.5030	0.0100	pay 0.0050% / 4h	57m 28s	$4.9M	$20.8M	75x
Short	SunX SPX-USDT	0.5012	0.0100	get 0.0050% / 4h	57m 28s	$8K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BinancebpFee SunXbpOrdersPrice spread, now −0.358%Rate

Funding earned: $0
Price spread: −0.358% → −0.188%: −$16.99
Slippage, 4 orders: −$239.06
Fee Binance: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$274.04
Costs to cover: 2.571%
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; SunX: live order book, 8 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Binance live order book, 14 min ago	1.01 bp	17.7 bp −$18	56.7 bp −$567	505.6 bp −$50.6K	doesn't fit
Sell SunX live order book, 8 min ago	32.08 bp	114.0 bp −$114	doesn't fit	doesn't fit	doesn't fit

SPX on 19 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_SPXUSD	−0.1186%	1h	0.5025	−0.094%	$239K	$560K	20x	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−1.014%	$9	$4K	5.5x	as long as short
Variational Omni SPX	+0.0044%	4h	0.4974	−1.117%	$840K	$1.3M	—	as long as short
Lighter SPX	+0.0096%	1h	0.5026	−0.087%	$115K	$318K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5029	−0.022%	$9.7M	$7.5M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5016	−0.284%	$127K	$108K	10x	as long as short
Binance SPXUSDTlong	+0.0100%	4h	0.5030	long leg	$4.9M	$20.8M	75x
Bybit SPXUSDT	+0.0100%	4h	0.5026	−0.080%	$11.5M	$15.9M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5030	0.000%	$967K	$2.7M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5018	−0.239%	$1.0M	$493K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SPX_USDT	+0.0100%	4h	0.5026	−0.080%	$11.3M	$4.6M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5028	−0.040%	$3.8M	$5.3M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5028	−0.040%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5026	−0.080%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5006	−0.477%	$45K	$247K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5023	−0.139%	$20K	$711	10x	as long as short
SunX SPX-USDTshort	+0.0100%	4h	0.5012	−0.358%	$8K	$1.7M	20x
Extended SPX-USD	+0.0104%	1h	0.5023	−0.139%	$34K	$228K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5012	−0.358%	$244K	$954K	75x	as long as short