Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.005%

Price spread now: Bybit against Bitget−0.058%7-day average −0.111% · you buy dearer than you sell

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$1001.003% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

Price spread, last 7 days−0.067%−$7 · spread now −0.058%, 7d avg −0.111%

Together, before fees−0.125%−$13 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 0.053% dearer against Bitget than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.111%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SPXUSDT	0.5191	0.0100	pay 0.0050% / 4h	3h 23m	$2.7M	$1.5M	50x
Short	Bybit SPXUSDT	0.5188	0.0100	get 0.0050% / 4h	3h 23m	$11.9M	$17.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. 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 BitgetbpFee BybitbpOrdersPrice spread, now −0.058%Rate

Funding earned: $0
Price spread: −0.058% → −0.111%: $5.32
Slippage, 4 orders: −$77.27
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$94.95
Costs to cover: 1.003%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Bybit: live order book, 5 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 Bitget live order book, 4 min ago	9.71 bp	25.5 bp −$25	93.4 bp −$934	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	3.91 bp	21.2 bp −$21	69.5 bp −$695	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	−4.084%	$9	$4K	5.5x	as long as short
Variational Omni SPX	+0.0044%	4h	0.5118	−1.416%	$943K	$1.6M	—	as long as short
Lighter SPX	+0.0096%	1h	0.5197	+0.114%	$143K	$406K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5203	+0.225%	$10.8M	$8.5M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5181	−0.190%	$138K	$93K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5194	+0.058%	$5.2M	$23.8M	75x	as long as short
Bybit SPXUSDTshort	+0.0100%	4h	0.5188	−0.058%	$11.9M	$17.9M	50x
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5187	−0.077%	$995K	$3.5M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5182	−0.173%	$1.1M	$651K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5193	+0.039%	$11.7M	$5.0M	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	0.5188	−0.058%	$3.7M	$5.5M	50x	as long as short
Bitget SPXUSDTlong	+0.0100%	4h	0.5191	long leg	$2.7M	$1.5M	50x
BingX SPX-USDT	+0.0100%	4h	0.5193	+0.039%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5138	−1.021%	$26K	$249K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5200	+0.173%	$21K	$540	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5185	−0.116%	$8K	$1.8M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5188	−0.056%	$47K	$307K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5196	+0.096%	$255K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1449%	1h	0.5209	+0.356%	$266K	$556K	20x	as long as short