Settings8H · net · $10k
Funding arb · Price arb /

SPX

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.040%
Price spread now: Hyperliquid against Bitget+0.044%7-day average +0.128% · you sell dearer than you buy
Net, funding: paid 7d − costs−$81as in the Funding arb table
Net, price: spread back to 7d avg − costs−$106as in the Price arb table
costs, in and out, $10k−$980.975% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days+0.161%+$16 on $10k
Price spread, last 7 days−0.057%−$6 · spread now +0.044%, 7d avg +0.128%
Together, before fees+0.105%+ Points / potential airdropHyperliquid: Season 2 · farm board+$10 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: Hyperliquid is 0.085% cheaper against Bitget than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.128%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBitget SPXUSDT0.50140.0100pay 0.0050% / 4h58m 15s$2.6M$1.4M50x
ShortHyperliquid SPX0.50160.0100get 0.0013% / 1h58m 15s$10.1M$7.4M5x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid 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

Funding earned
$0
Price spread: +0.044% → +0.128%
−$8.46
Slippage, 4 orders
−$76.51
Fee Bitget: 6 bp × 2 orders
−$12
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$105.97
Costs to cover
0.975%
Break-even
never at this rate
Slippage from Bitget: live order book, 4 min ago; Hyperliquid: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bitget live order book, 4 min ago9.99 bp32.9 bp −$33102.2 bp −$1,022doesn't fitdoesn't fit
Sell Hyperliquid live order book, 4 min ago3.49 bp17.2 bp −$17doesn't fitdoesn't fitdoesn't fit

SPX on 19 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective SPX/USDC PERP+0.0033%1h0.4979−0.698%$9$4K5.5xas long as short
Lighter SPX+0.0096%1h0.5006−0.162%$134K$357K5xas long as short
Hyperliquid SPXshort+0.0100%1h0.5016+0.044%$10.1M$7.4M5x
Binance SPXUSDT+0.0100%4h0.5015+0.023%$5.0M$21.3M75xas long as short
Bybit SPXUSDT+0.0100%4h0.4998−0.319%$11.3M$16.3M50xas long as short
OKX SPX-USDT-SWAP+0.0100%4h0.4992−0.439%$935K$2.8M20xas long as short
Gate SPX_USDT+0.0100%4h0.5021+0.140%$999K$557K50xas long as short
MEXC SPX_USDT+0.0100%4h0.5020+0.120%$11.9M$4.8M100xas long as short
KuCoin SPXUSDTM+0.0100%4h0.5021+0.140%$3.7M$5.2M50xas long as short
Bitget SPXUSDTlong+0.0100%4h0.5014long leg$2.6M$1.4M50x
Show all 19 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX SPX-USDT+0.0100%4h0.5006−0.160%$6.9Mas long as short
Variational Omni SPX+0.0100%4h0.4995−0.388%$841K$1.4Mas long as short
ApeX Omni SPXUSDT+0.0100%1h0.5004−0.199%$25K$254K25xas long as short
SunX SPX-USDT+0.0100%4h0.4996−0.359%$8K$1.7M20xas long as short
Extended SPX-USD+0.0104%1h0.5000−0.272%$33K$248K10xas long as short
Aster SPXUSDT+0.0130%4h0.5022+0.157%$134K$122K10xas long as short
Orderly PERP_SPX_USDC+0.0152%4h0.5011−0.060%$20K$59910xas long as short
BloFin SPX-USDT+0.0340%4h0.5027+0.259%$255K$995K75xas long as short
Kraken Futures PF_SPXUSD+0.1289%1h0.5008−0.115%$249K$544K20xas long as short