Funding arb · Price arb /

SPX

all SPX markets

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 +0.008%

Price spread now: SunX against Bybit−0.079%7-day average −0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$250as in the Funding arb table

Net, price: spread back to 7d avg − costs−$260as in the Price arb table

costs, in and out, $10k−$2562.562% of the position

Long on Bybit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.058%+$6 on $10k

Price spread, last 3 days (all we have)−0.092%−$9 · spread now −0.079%, 7d avg −0.036%

Together, before fees−0.034%−$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: SunX is 0.043% cheaper against Bybit than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SPXUSDT	0.5088	0.0100	pay 0.0050% / 4h	3h 15m	$11.6M	$16.1M	50x
Short	SunX SPX-USDT	0.5084	0.0100	get 0.0050% / 4h	3h 15m	$8K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.079%Rate

Funding earned: $0
Price spread: −0.079% → −0.036%: −$4.28
Slippage, 4 orders: −$237.2
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SunX: 4 bp × 2 orders: −$8
Net: −$260.48
Costs to cover: 2.562%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; SunX: live order book, 10 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, 3 min ago	2.96 bp	17.0 bp −$17	59.4 bp −$594	doesn't fit	doesn't fit
Sell SunX live order book, 10 min ago	31.45 bp	113.5 bp −$113	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
Variational Omni SPX	+0.0018%	4h	0.5068	−0.399%	$847K	$1.3M	—	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−2.142%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5093	+0.102%	$117K	$323K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5098	+0.195%	$10.0M	$7.8M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5080	−0.165%	$128K	$110K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5094	+0.118%	$5.1M	$21.3M	75x	as long as short
Bybit SPXUSDTlong	+0.0100%	4h	0.5088	long leg	$11.6M	$16.1M	50x
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5089	+0.020%	$963K	$2.8M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5087	−0.020%	$1.1M	$519K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5093	+0.098%	$11.3M	$4.8M	100x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SPXUSDTM	+0.0100%	4h	0.5091	+0.059%	$3.7M	$5.4M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5098	+0.197%	$2.7M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5092	+0.079%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5065	−0.452%	$45K	$247K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5096	+0.157%	$20K	$599	10x	as long as short
SunX SPX-USDTshort	+0.0100%	4h	0.5084	−0.079%	$8K	$1.7M	20x
Extended SPX-USD	+0.0104%	1h	0.5092	+0.086%	$36K	$265K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5087	−0.020%	$253K	$1.1M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.0960%	1h	0.5100	+0.235%	$247K	$553K	20x	as long as short