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 −0.007%

Price spread now: Bybit against Gate−0.296%7-day average −0.072% · you buy dearer than you sell

Net, funding: paid 7d − costs−$216as in the Funding arb table

Net, price: spread back to 7d avg − costs−$234as in the Price arb table

costs, in and out, $10k−$2122.118% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.038%−$4 on $10k

Price spread, last 7 days+0.163%+$16 · spread now −0.296%, 7d avg −0.072%

Together, before fees+0.125%+$13 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: Bybit is 0.224% cheaper against Gate than usual: you would sell low and buy high, −$22 on $10k if it goes back to its 7-day average of −0.072%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SPX_USDT	0.5073	0.0100	pay 0.0050% / 4h	2h 56m	$1.0M	$503K	50x
Short	Bybit SPXUSDT	0.5058	0.0100	get 0.0050% / 4h	2h 56m	$11.5M	$16.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Gate. 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 GatebpFee BybitbpOrdersPrice spread, now −0.296%Rate

Funding earned: $0
Price spread: −0.296% → −0.072%: −$22.39
Slippage, 4 orders: −$185.84
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$234.23
Costs to cover: 2.118%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; Bybit: 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 Gate live order book, 5 min ago	6.89 bp	78.8 bp −$79	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	2.96 bp	17.1 bp −$17	56.9 bp −$569	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	−1.853%	$9	$4K	5.5x	as long as short
Variational Omni SPX	+0.0091%	4h	0.5081	+0.160%	$851K	$1.3M	—	as long as short
Lighter SPX	+0.0096%	1h	0.5083	+0.193%	$117K	$338K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5073	+0.008%	$10.0M	$7.7M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5082	+0.182%	$128K	$111K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5075	+0.034%	$5.1M	$21.3M	75x	as long as short
Bybit SPXUSDTshort	+0.0100%	4h	0.5058	−0.296%	$11.5M	$16.1M	50x
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5062	−0.217%	$961K	$2.9M	20x	as long as short
Gate SPX_USDTlong	+0.0100%	4h	0.5073	long leg	$1.0M	$503K	50x
MEXC SPX_USDT	+0.0100%	4h	0.5065	−0.158%	$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	0.5063	−0.197%	$3.7M	$5.4M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5063	−0.197%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5060	−0.256%	—	$6.8M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5092	+0.375%	$46K	$246K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5091	+0.355%	$20K	$599	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5072	−0.020%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5063	−0.201%	$33K	$261K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5079	+0.118%	$256K	$1.1M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1175%	1h	0.5081	+0.150%	$246K	$551K	20x	as long as short