Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.019%

Price spread now: Binance against Bybit+0.082%7-day average +0.145% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$790.790% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.066%+$7 on $10k

Price spread, last 7 days+0.108%+$11 · spread now +0.082%, 7d avg +0.145%

Together, before fees+0.174%+$17 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: Binance is 0.063% cheaper against Bybit than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.145%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SPXUSDT	0.5055	0.0100	pay 0.0050% / 4h	32m 08s	$11.5M	$16.1M	50x
Short	Binance SPXUSDT	0.5059	0.0100	get 0.0050% / 4h	32m 08s	$5.0M	$21.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bybit. 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 BybitbpFee BinancebpOrdersPrice spread, now +0.082%Rate

Funding earned: $0
Price spread: +0.082% → +0.145%: −$6.3
Slippage, 4 orders: −$57.99
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$85.29
Costs to cover: 0.790%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Binance: live order book, 9 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 Bybit live order book, 1 min ago	2.98 bp	20.8 bp −$21	62.3 bp −$623	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	1.96 bp	19.1 bp −$19	68.4 bp −$684	417.9 bp −$41.8K	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
Kraken Futures PF_SPXUSD	−0.1175%	1h	0.5072	+0.345%	$241K	$559K	20x	as long as short
Variational Omni SPX	−0.0019%	4h	0.5052	−0.061%	$845K	$1.3M	—	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−1.503%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5064	+0.174%	$117K	$319K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5062	+0.138%	$9.9M	$7.7M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5050	−0.099%	$129K	$110K	10x	as long as short
Binance SPXUSDTshort	+0.0100%	4h	0.5059	+0.082%	$5.0M	$21.0M	75x
Bybit SPXUSDTlong	+0.0100%	4h	0.5055	long leg	$11.5M	$16.1M	50x
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5062	+0.138%	$963K	$2.8M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5049	−0.119%	$1.0M	$500K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SPX_USDT	+0.0100%	4h	0.5061	+0.119%	$11.2M	$4.7M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5056	+0.020%	$3.7M	$5.3M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5066	+0.218%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5052	−0.059%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5049	−0.119%	$45K	$246K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5061	+0.119%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5047	−0.158%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5060	+0.101%	$34K	$228K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5053	−0.040%	$247K	$984K	75x	as long as short