Funding arb · Price arb /

SPX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.018%

Price spread now: Aster against KuCoin−0.111%7-day average +0.068% · you buy dearer than you sell

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

Long on KuCoin Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.019%+$2 on $10k

Price spread, last 4 days (all we have)+0.169%+$17 · spread now −0.111%, 7d avg +0.068%

Together, before fees+0.187%+ Points / potential airdropAster: Stage 5 · farm board+$19 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: Aster is 0.179% cheaper against KuCoin than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of +0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SPXUSDTM	0.5014	0.0100	pay 0.0050% / 4h	57m 50s	$3.7M	$5.3M	50x
Short	Aster SPXUSDT	0.5008	0.0100	get 0.0050% / 4h	57m 50s	$127K	$108K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against KuCoin. 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 KuCoinbpFee AsterbpOrdersPrice spread, now −0.111%Rate

Funding earned: $0
Price spread: −0.111% → +0.068%: −$17.9
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$37.9
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 10 min ago; Aster: live order book, 18 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 KuCoin live order book, 10 min ago	2.01 bp	155.5 bp −$156	435.9 bp −$4,359	doesn't fit	doesn't fit
Sell Aster live order book, 18 min ago	15.06 bp	40.1 bp −$40	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
Kraken Futures PF_SPXUSD	−0.1186%	1h	0.5025	+0.225%	$239K	$560K	20x	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−0.698%	$9	$4K	5.5x	as long as short
Variational Omni SPX	+0.0044%	4h	0.4974	−0.801%	$840K	$1.3M	—	as long as short
Lighter SPX	+0.0096%	1h	0.5026	+0.231%	$115K	$318K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5023	+0.189%	$9.7M	$7.5M	5x	as long as short
Aster SPXUSDTshort	+0.0100%	4h	0.5008	−0.111%	$127K	$108K	10x
Binance SPXUSDT	+0.0100%	4h	0.5019	+0.100%	$4.9M	$20.8M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5017	+0.060%	$11.5M	$15.9M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5024	+0.199%	$967K	$2.7M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5014	0.000%	$1.0M	$493K	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	0.5018	+0.080%	$11.3M	$4.6M	100x	as long as short
KuCoin SPXUSDTMlong	+0.0100%	4h	0.5014	long leg	$3.7M	$5.3M	50x
Bitget SPXUSDT	+0.0100%	4h	0.5016	+0.040%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5019	+0.100%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.4991	−0.459%	$45K	$247K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5023	+0.179%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5012	−0.040%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5017	+0.060%	$34K	$228K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5012	−0.040%	$244K	$954K	75x	as long as short