Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: MEXC against Extended0.000%7-day average +0.104% · you buy dearer than you sell

Net, funding: paid 7d − costs−$76as in the Funding arb table

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

costs, in and out, $10k−$750.747% of the position

Long on Extended Short on MEXC

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)+0.183%+$18 · spread now 0.000%, 7d avg +0.104%

Together, before fees+0.174%+ Points / potential airdropExtended: Active · farm board+$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: MEXC is 0.104% cheaper against Extended than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.104%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SPX-USD	0.5047	0.0104	pay 0.0013% / 1h	21m 58s	$34K	$228K	10x
Short	MEXC SPX_USDT	0.5047	0.0100	get 0.0050% / 4h	1h 21m	$11.3M	$4.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$0.84
Price spread: 0.000% → +0.104%: −$10.4
Slippage, 4 orders: −$65.72
Fee Extended: 2.5 bp × 2 orders: −$5
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$85.96
Costs to cover: 0.747%
Break-even: never at this rate

Slippage from Extended: live order book, 60 min ago; MEXC: live order book, 1 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, 60 min ago	3.28 bp	32.2 bp −$32	217.2 bp −$2,172	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	1.99 bp	5.6 bp −$6	16.0 bp −$160	151.4 bp −$15.1K	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	−0.1242%	1h	0.5046	−0.028%	$234K	$551K	20x	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−1.348%	$9	$4K	5.5x	as long as short
Variational Omni SPX	+0.0056%	4h	0.5024	−0.459%	$848K	$1.3M	—	as long as short
Lighter SPX	+0.0096%	1h	0.5051	+0.083%	$116K	$319K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5048	+0.027%	$9.8M	$7.4M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5042	−0.093%	$127K	$104K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5049	+0.039%	$5.1M	$20.0M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5039	−0.159%	$11.7M	$15.5M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5045	−0.040%	$987K	$2.7M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5033	−0.278%	$1.0M	$478K	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_USDTshort	+0.0100%	4h	0.5047	0.000%	$11.3M	$4.6M	100x
KuCoin SPXUSDTM	+0.0100%	4h	0.5038	−0.179%	$3.8M	$5.2M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5045	−0.040%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5045	−0.040%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5042	−0.099%	$45K	$248K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5048	+0.020%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5031	−0.317%	$8K	$1.6M	20x	as long as short
Extended SPX-USDlong	+0.0104%	1h	0.5047	long leg	$34K	$228K	10x
BloFin SPX-USDT	+0.0340%	4h	0.5037	−0.198%	$256K	$951K	75x	as long as short