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 −0.010%

Price spread now: KuCoin against Bybit+0.177%7-day average +0.114% · you sell dearer than you buy

Net, funding: paid 7d − costs−$194as in the Funding arb table

Net, price: spread back to 7d avg − costs−$192as in the Price arb table

costs, in and out, $10k−$1981.983% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.040%+$4 on $10k

Price spread, last 7 days−0.009%−$1 · spread now +0.177%, 7d avg +0.114%

Together, before fees+0.031%+$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 0.062% dearer against Bybit than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.114%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SPXUSDT	0.5094	0.0100	pay 0.0050% / 4h	3h 54m	$11.5M	$16.4M	50x
Short	KuCoin SPXUSDTM	0.5103	0.0100	get 0.0050% / 4h	3h 54m	$3.7M	$5.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.177%Rate

Funding earned: $0
Price spread: +0.177% → +0.114%: $6.23
Slippage, 4 orders: −$175.26
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$192.03
Costs to cover: 1.983%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; KuCoin: 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 Bybit live order book, 4 min ago	1.98 bp	20.7 bp −$21	76.0 bp −$760	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	2.97 bp	78.7 bp −$79	293.2 bp −$2,932	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	−2.258%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5105	+0.226%	$137K	$355K	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5100	+0.118%	$5.1M	$21.6M	75x	as long as short
Bybit SPXUSDTlong	+0.0100%	4h	0.5094	long leg	$11.5M	$16.4M	50x
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5099	+0.098%	$942K	$3.0M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5096	+0.039%	$1.0M	$566K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5104	+0.196%	$11.8M	$4.9M	100x	as long as short
KuCoin SPXUSDTMshort	+0.0100%	4h	0.5103	+0.177%	$3.7M	$5.3M	50x
Bitget SPXUSDT	+0.0100%	4h	0.5105	+0.216%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5098	+0.079%	—	$6.9M	—	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SPX	+0.0100%	4h	0.5073	−0.420%	$853K	$1.4M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5071	−0.452%	$26K	$254K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5097	+0.059%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5099	+0.100%	$33K	$242K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0197%	4h	0.5105	+0.216%	$20K	$599	10x	as long as short
Aster SPXUSDT	+0.0217%	4h	0.5083	−0.225%	$135K	$122K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5096	+0.039%	$251K	$1.0M	75x	as long as short
Hyperliquid SPX	+0.0519%	1h	0.5105	+0.214%	$10.4M	$7.7M	5x	as long as short
Kraken Futures PF_SPXUSD	+0.1231%	1h	0.5110	+0.320%	$249K	$551K	20x	as long as short