Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: Gate against BingX−0.057%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$186as in the Funding arb table

Net, price: spread back to 7d avg − costs−$188as in the Price arb table

costs, in and out, $10k−$1841.839% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 7 days−0.035%−$4 · spread now −0.057%, 7d avg −0.015%

Together, before fees−0.053%−$5 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: Gate is 0.042% cheaper against BingX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SPX-USDT	0.5241	0.0100	pay 0.0050% / 4h	2h 01m	—	$6.9M	—
Short	Gate SPX_USDT	0.5238	0.0100	get 0.0050% / 4h	2h 01m	$1.1M	$653K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.057%Rate

Funding earned: $0
Price spread: −0.057% → −0.015%: −$4.2
Slippage, 4 orders: −$158.91
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$188.11
Costs to cover: 1.839%
Break-even: never at this rate

Slippage from BingX: live order book, 6 min ago; Gate: 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, 6 min ago	7.63 bp	25.2 bp −$25	53.8 bp −$538	396.9 bp −$39.7K	1122.6 bp −$561.3K
Sell Gate live order book, 1 min ago	7.63 bp	70.1 bp −$70	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
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−4.999%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5244	+0.065%	$155K	$393K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5247	+0.120%	$10.7M	$8.1M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5242	+0.020%	$140K	$92K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5239	−0.038%	$5.4M	$23.2M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5234	−0.134%	$11.9M	$17.5M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5238	−0.057%	$1.0M	$3.4M	20x	as long as short
Gate SPX_USDTshort	+0.0100%	4h	0.5238	−0.057%	$1.1M	$653K	50x
MEXC SPX_USDT	+0.0100%	4h	0.5238	−0.057%	$12.0M	$5.3M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5236	−0.095%	$3.8M	$5.4M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPXUSDT	+0.0100%	4h	0.5240	−0.019%	$2.7M	$1.5M	50x	as long as short
BingX SPX-USDTlong	+0.0100%	4h	0.5241	long leg	—	$6.9M	—
Variational Omni SPX	+0.0100%	4h	0.5235	−0.113%	$975K	$1.5M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5271	+0.572%	$27K	$254K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5234	−0.134%	$8K	$1.8M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5235	−0.107%	$34K	$263K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0196%	4h	0.5251	+0.191%	$21K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5248	+0.134%	$258K	$1.1M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1401%	1h	0.5248	+0.126%	$259K	$555K	20x	as long as short