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: Binance against BingX−0.090%7-day average +0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$103as in the Price arb table

costs, in and out, $10k−$880.875% of the position

Long on BingX Short on Binance

What this pair did over the last

the charts below follow

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

Price spread, last 7 days+0.185%+$18 · spread now −0.090%, 7d avg +0.065%

Together, before fees+0.185%+$18 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: Binance is 0.155% cheaper against BingX than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SPX-USDT	0.5032	0.0100	pay 0.0050% / 4h	2h 13m	—	$6.9M	—
Short	Binance SPXUSDT	0.5027	0.0100	get 0.0050% / 4h	2h 13m	$4.9M	$19.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against BingX. 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 BingXbpFee BinancebpOrdersPrice spread, now −0.090%Rate

Funding earned: $0
Price spread: −0.090% → +0.065%: −$15.52
Slippage, 4 orders: −$67.54
Fee BingX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$103.07
Costs to cover: 0.875%
Break-even: never at this rate

Slippage from BingX: live order book, 9 min ago; Binance: live order book, 13 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 BingX live order book, 9 min ago	6.95 bp	27.3 bp −$27	56.7 bp −$567	505.0 bp −$50.5K	doesn't fit
Sell Binance live order book, 13 min ago	0.99 bp	15.8 bp −$16	58.8 bp −$588	541.6 bp −$54.2K	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	−0.0412%	1h	0.5036	+0.086%	$233K	$560K	20x	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−1.053%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5028	−0.076%	$116K	$319K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5022	−0.191%	$9.8M	$7.2M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5029	−0.065%	$124K	$97K	10x	as long as short
Binance SPXUSDTshort	+0.0100%	4h	0.5027	−0.090%	$4.9M	$19.5M	75x
Bybit SPXUSDT	+0.0100%	4h	0.5021	−0.219%	$11.6M	$15.5M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5021	−0.219%	$975K	$2.6M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5030	−0.040%	$1.0M	$477K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5029	−0.060%	$11.5M	$4.6M	100x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SPXUSDTM	+0.0100%	4h	0.5031	−0.020%	$3.8M	$5.2M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5028	−0.079%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDTlong	+0.0100%	4h	0.5032	long leg	—	$6.9M	—
Variational Omni SPX	+0.0100%	4h	0.5025	−0.134%	$876K	$1.3M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5028	−0.079%	$45K	$248K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5038	+0.119%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5015	−0.338%	$8K	$1.6M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5023	−0.172%	$34K	$226K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5029	−0.060%	$250K	$913K	75x	as long as short