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 −0.019%

Price spread now: Bybit against BingX−0.020%7-day average −0.081% · you buy dearer than you sell

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$980.984% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.066%−$7 on $10k

Price spread, last 7 days−0.078%−$8 · spread now −0.020%, 7d avg −0.081%

Together, before fees−0.144%−$14 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: Bybit is 0.061% dearer against BingX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.081%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SPX-USDT	0.5033	0.0100	pay 0.0050% / 4h	2h 17m	—	$6.9M	—
Short	Bybit SPXUSDT	0.5032	0.0100	get 0.0050% / 4h	2h 17m	$11.7M	$15.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.020%Rate

Funding earned: $0
Price spread: −0.020% → −0.081%: $6.11
Slippage, 4 orders: −$77.43
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$92.31
Costs to cover: 0.984%
Break-even: never at this rate

Slippage from BingX: live order book, 5 min ago; Bybit: live order book, 1 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, 5 min ago	6.95 bp	27.3 bp −$27	56.7 bp −$567	505.0 bp −$50.5K	doesn't fit
Sell Bybit live order book, 1 min ago	4.97 bp	23.9 bp −$24	63.7 bp −$637	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	−0.0413%	1h	0.5033	+0.009%	$233K	$560K	20x	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−1.073%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5038	+0.107%	$116K	$319K	5x	as long as short
Variational Omni SPX	+0.0100%	4h	0.5039	+0.114%	$877K	$1.3M	—	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5036	+0.066%	$9.8M	$7.2M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5037	+0.083%	$124K	$97K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5035	+0.044%	$5.0M	$19.5M	75x	as long as short
Bybit SPXUSDTshort	+0.0100%	4h	0.5032	−0.020%	$11.7M	$15.5M	50x
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5035	+0.040%	$977K	$2.6M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5034	+0.020%	$1.0M	$477K	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	0.5035	+0.040%	$11.6M	$4.5M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5036	+0.060%	$3.8M	$5.2M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5040	+0.139%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDTlong	+0.0100%	4h	0.5033	long leg	—	$6.9M	—
ApeX Omni SPXUSDT	+0.0100%	1h	0.5043	+0.199%	$45K	$248K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5043	+0.199%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5026	−0.139%	$8K	$1.6M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5033	−0.002%	$34K	$226K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5037	+0.079%	$250K	$915K	75x	as long as short