Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.020%

Price spread now: MEXC against Injective+5.142%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and MEXC is 5.142% dearer against Injective than usual: you sell high and buy low: +$514 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective SPX/USDC PERP	0.4979	0.0033	pay 0.0004% / 1h	59m 20s	$9	$4K	5.5x
Short	MEXC SPX_USDT	0.5235	0.0100	get 0.0050% / 4h	1h 59m	$12.0M	$5.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Injective. 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 InjectivebpFee MEXCbpOrdersPrice spread, now +5.142%Rate

Funding earned: $14
Price spread: +5.142% → 0.000%: $514.16
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee MEXC: 2 bp × 2 orders: −$4
Net: $524.14
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; MEXC: live order book, 4 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell MEXC live order book, 4 min ago	2.86 bp	10.1 bp −$10	28.6 bp −$286	108.7 bp −$10.9K	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 PERPlong	+0.0033%	1h	0.4979	long leg	$9	$4K	5.5x
Lighter SPX	+0.0096%	1h	0.5244	+5.330%	$155K	$393K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5243	+5.302%	$10.7M	$8.1M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5239	+5.221%	$140K	$92K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5237	+5.191%	$5.4M	$23.3M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5227	+4.981%	$11.9M	$17.5M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5230	+5.041%	$1.0M	$3.4M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5234	+5.122%	$1.1M	$635K	50x	as long as short
MEXC SPX_USDTshort	+0.0100%	4h	0.5235	+5.142%	$12.0M	$5.2M	100x
KuCoin SPXUSDTM	+0.0100%	4h	0.5234	+5.122%	$3.8M	$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	0.5233	+5.101%	$2.7M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5229	+5.021%	—	$7.0M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5231	+5.062%	$975K	$1.5M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5242	+5.282%	$27K	$254K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5231	+5.061%	$8K	$1.8M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5237	+5.181%	$34K	$263K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0194%	4h	0.5242	+5.282%	$21K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5248	+5.403%	$258K	$1.1M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1399%	1h	0.5255	+5.547%	$260K	$555K	20x	as long as short