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 +0.008%

Price spread now: OKX against Bybit−0.039%7-day average +0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs−$122as in the Price arb table

costs, in and out, $10k−$1131.133% of the position

Long on Bybit Short on OKX

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+0.172%+$17 · spread now −0.039%, 7d avg +0.050%

Together, before fees+0.229%+$23 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: OKX is 0.089% cheaper against Bybit than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SPXUSDT	0.5152	0.0100	pay 0.0050% / 4h	1h 37m	$11.8M	$17.7M	50x
Short	OKX SPX-USDT-SWAP	0.5150	0.0100	get 0.0050% / 4h	1h 37m	$976K	$3.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.039%Rate

Funding earned: $0
Price spread: −0.039% → +0.050%: −$8.89
Slippage, 4 orders: −$92.33
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$122.22
Costs to cover: 1.133%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; OKX: 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 Bybit live order book, 1 min ago	2.91 bp	17.0 bp −$17	77.9 bp −$779	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	2.91 bp	37.6 bp −$38	doesn't fit	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	−3.358%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5162	+0.194%	$141K	$405K	5x	as long as short
Variational Omni SPX	+0.0100%	4h	0.5162	+0.196%	$961K	$1.5M	—	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5157	+0.097%	$137K	$93K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5158	+0.125%	$5.2M	$23.8M	75x	as long as short
Bybit SPXUSDTlong	+0.0100%	4h	0.5152	long leg	$11.8M	$17.7M	50x
OKX SPX-USDT-SWAPshort	+0.0100%	4h	0.5150	−0.039%	$976K	$3.4M	20x
Gate SPX_USDT	+0.0100%	4h	0.5153	+0.019%	$1.0M	$642K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5158	+0.116%	$11.9M	$5.3M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5156	+0.078%	$3.7M	$5.4M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPXUSDT	+0.0100%	4h	0.5160	+0.155%	$2.7M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5158	+0.116%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5168	+0.311%	$27K	$254K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5150	−0.039%	$8K	$1.8M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5154	+0.043%	$34K	$240K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0181%	4h	0.5166	+0.272%	$20K	$599	10x	as long as short
Hyperliquid SPX	+0.0236%	1h	0.5163	+0.208%	$10.4M	$8.2M	5x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5171	+0.369%	$263K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1602%	1h	0.5170	+0.340%	$255K	$555K	20x	as long as short