Funding arb · Price arb /

SPX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.016%

Price spread now: Binance against KuCoin+0.141%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$301as in the Funding arb table

Net, price: spread back to 7d avg − costs−$291as in the Price arb table

costs, in and out, $10k−$3033.025% of the position

Long on KuCoin Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 7 days−0.134%−$13 · spread now +0.141%, 7d avg +0.027%

Together, before fees−0.116%−$12 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: Binance is 0.114% dearer against KuCoin than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SPXUSDTM	0.5136	0.0100	pay 0.0050% / 4h	2h 20m	$3.7M	$5.4M	50x
Short	Binance SPXUSDT	0.5143	0.0100	get 0.0050% / 4h	2h 20m	$5.1M	$22.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.141%Rate

Funding earned: $0
Price spread: +0.141% → +0.027%: $11.39
Slippage, 4 orders: −$280.54
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$291.14
Costs to cover: 3.025%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Binance: live order book, 6 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 KuCoin live order book, 2 min ago	4.93 bp	137.8 bp −$138	442.3 bp −$4,423	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	1.98 bp	23.0 bp −$23	64.3 bp −$643	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	−3.057%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5116	−0.393%	$139K	$380K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5150	+0.273%	$10.5M	$7.9M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5123	−0.253%	$137K	$130K	10x	as long as short
Binance SPXUSDTshort	+0.0100%	4h	0.5143	+0.141%	$5.1M	$22.5M	75x
Bybit SPXUSDT	+0.0100%	4h	0.5133	−0.058%	$11.7M	$17.1M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5144	+0.156%	$945K	$3.2M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5132	−0.078%	$1.0M	$607K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5138	+0.039%	$11.9M	$5.2M	100x	as long as short
KuCoin SPXUSDTMlong	+0.0100%	4h	0.5136	long leg	$3.7M	$5.4M	50x

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPXUSDT	+0.0100%	4h	0.5134	−0.039%	$2.7M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5136	0.000%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5076	−1.166%	$935K	$1.5M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5052	−1.636%	$26K	$255K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5075	−1.188%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5138	+0.030%	$34K	$253K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0180%	4h	0.5144	+0.156%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5084	−1.012%	$248K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1443%	1h	0.5095	−0.795%	$249K	$538K	20x	as long as short