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 0.000%

Price spread now: SunX against BingX+0.019%55s7-day average −0.113% · you sell dearer than you buy

Net, funding: paid 7d − costs−$273as 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−$2732.727% of the position

Long on BingX 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 4 days (all we have)−0.362%−$36 · spread now +0.019%, 7d avg −0.113%

Together, before fees−0.362%−$36 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 0.133% dearer against BingX than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.113%. The two prices were read 55 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	BingX SPX-USDT	0.5164	0.0100	pay 0.0050% / 4h	3h 32m	—	$6.9M	—
Short	SunX SPX-USDT	0.5165	0.0100	get 0.0050% / 4h	3h 32m	$8K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.019%Rate

Funding earned: $0
Price spread: +0.019% → −0.113%: $13.28
Slippage, 4 orders: −$254.69
Fee BingX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$259.41
Costs to cover: 2.727%
Break-even: never at this rate

Slippage from BingX: live order book, 5 min ago; SunX: live order book, 3 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	7.73 bp	27.1 bp −$27	52.4 bp −$524	376.4 bp −$37.6K	doesn't fit
Sell SunX live order book, 3 min ago	31.83 bp	114.4 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
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−3.582%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5172	+0.155%	$141K	$359K	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5170	+0.107%	$5.2M	$22.1M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5165	+0.019%	$11.8M	$16.9M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5166	+0.039%	$942K	$3.1M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5162	−0.039%	$1.0M	$583K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5168	+0.077%	$11.9M	$5.0M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5166	+0.039%	$3.7M	$5.3M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5172	+0.155%	$2.7M	$1.5M	50x	as long as short
BingX SPX-USDTlong	+0.0100%	4h	0.5164	long leg	—	$6.9M	—

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SPX	+0.0100%	4h	0.5168	+0.070%	$964K	$1.5M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5201	+0.716%	$26K	$254K	25x	as long as short
SunX SPX-USDTshort	+0.0100%	4h	0.5165	+0.019%	$8K	$1.7M	20x
Extended SPX-USD	+0.0104%	1h	0.5167	+0.059%	$36K	$250K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0208%	4h	0.5173	+0.174%	$21K	$599	10x	as long as short
Aster SPXUSDT	+0.0233%	4h	0.5170	+0.115%	$138K	$129K	10x	as long as short
Hyperliquid SPX	+0.0320%	1h	0.5175	+0.223%	$10.6M	$7.8M	5x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5166	+0.039%	$252K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1214%	1h	0.5183	+0.362%	$253K	$558K	20x	as long as short