Funding arb · Price arb /

SPX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.018%

Price spread now: KuCoin against Bitget−0.099%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$232as in the Funding arb table

Net, price: spread back to 7d avg − costs−$241as in the Price arb table

costs, in and out, $10k−$2312.305% of the position

Long on Bitget Short on KuCoin

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+0.045%+$5 · spread now −0.099%, 7d avg +0.001%

Together, before fees+0.028%+$3 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: KuCoin is 0.100% cheaper against Bitget than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SPXUSDT	0.5042	0.0100	pay 0.0050% / 4h	2m 28s	$2.6M	$1.4M	50x
Short	KuCoin SPXUSDTM	0.5037	0.0100	get 0.0050% / 4h	2m 28s	$3.7M	$5.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.099%Rate

Funding earned: $0
Price spread: −0.099% → +0.001%: −$9.99
Slippage, 4 orders: −$206.51
Fee Bitget: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$240.5
Costs to cover: 2.305%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; KuCoin: 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, 5 min ago	10.93 bp	27.9 bp −$28	86.8 bp −$868	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	2.98 bp	100.1 bp −$100	278.5 bp −$2,785	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	−1.250%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5046	+0.079%	$135K	$357K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5049	+0.133%	$10.2M	$7.6M	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5045	+0.060%	$5.1M	$21.6M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5034	−0.159%	$11.4M	$16.4M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5045	+0.060%	$936K	$2.9M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5030	−0.238%	$1.0M	$567K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5044	+0.040%	$11.8M	$4.9M	100x	as long as short
KuCoin SPXUSDTMshort	+0.0100%	4h	0.5037	−0.099%	$3.7M	$5.3M	50x
Bitget SPXUSDTlong	+0.0100%	4h	0.5042	long leg	$2.6M	$1.4M	50x

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SPX-USDT	+0.0100%	4h	0.5039	−0.060%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5013	−0.573%	$844K	$1.4M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5014	−0.555%	$26K	$254K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5033	−0.179%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5044	+0.031%	$33K	$241K	10x	as long as short
Aster SPXUSDT	+0.0140%	4h	0.5035	−0.144%	$134K	$122K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0173%	4h	0.5035	−0.139%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5042	0.000%	$249K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1279%	1h	0.5046	+0.078%	$246K	$550K	20x	as long as short