Funding arb · Price arb /

SPX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: BingX against Extended+0.100%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$1141.138% of the position

Long on Extended Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)+0.248%+$25 · spread now +0.100%, 7d avg +0.036%

Together, before fees+0.240%+ Points / potential airdropExtended: Active · farm board+$24 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: BingX is 0.064% dearer against Extended than usual: you sell high and buy low, +$6 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	Extended SPX-USD	0.5044	0.0104	pay 0.0013% / 1h	58m 28s	$35K	$227K	10x
Short	BingX SPX-USDT	0.5049	0.0100	get 0.0050% / 4h	2h 58m	—	$6.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Extended. 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 ExtendedbpFee BingXbpOrdersPrice spread, now +0.100%Rate

Funding earned: −$0.84
Price spread: +0.100% → +0.036%: $6.43
Slippage, 4 orders: −$98.83
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$108.24
Costs to cover: 1.138%
Break-even: never at this rate

Slippage from Extended: live order book, 28 min ago; BingX: 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 Extended live order book, 28 min ago	3.32 bp	35.2 bp −$35	219.0 bp −$2,190	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	7.91 bp	21.3 bp −$21	49.0 bp −$490	213.6 bp −$21.4K	1027.4 bp −$513.7K

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	−0.0411%	1h	0.5053	+0.176%	$231K	$563K	20x	as long as short
Variational Omni SPX	+0.0009%	4h	0.5059	+0.300%	$850K	$1.3M	—	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−1.287%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5051	+0.138%	$116K	$318K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5045	+0.023%	$9.9M	$7.1M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5056	+0.232%	$123K	$96K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5047	+0.065%	$5.0M	$19.6M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5040	−0.078%	$11.7M	$15.5M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5037	−0.137%	$989K	$2.6M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5049	+0.100%	$1.0M	$475K	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	0.5046	+0.041%	$11.6M	$4.5M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5048	+0.081%	$3.8M	$5.2M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5048	+0.081%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDTshort	+0.0100%	4h	0.5049	+0.100%	—	$6.8M	—
ApeX Omni SPXUSDT	+0.0100%	1h	0.5053	+0.180%	$45K	$248K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5062	+0.358%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5040	−0.078%	$8K	$1.6M	20x	as long as short
Extended SPX-USDlong	+0.0104%	1h	0.5044	long leg	$35K	$227K	10x
BloFin SPX-USDT	+0.0340%	4h	0.5054	+0.200%	$257K	$970K	75x	as long as short