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: BingX against KuCoin−0.060%7-day average −0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$179as in the Funding arb table

Net, price: spread back to 7d avg − costs−$183as in the Price arb table

costs, in and out, $10k−$1811.808% of the position

Long on KuCoin Short on BingX

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+0.025%+$3 · spread now −0.060%, 7d avg −0.036%

Together, before fees+0.044%+$4 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: BingX is 0.024% cheaper against KuCoin than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SPXUSDTM	0.5042	0.0100	pay 0.0050% / 4h	1h 35m	$3.8M	$5.2M	50x
Short	BingX SPX-USDT	0.5039	0.0100	get 0.0050% / 4h	1h 35m	—	$6.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.060%Rate

Funding earned: $0
Price spread: −0.060% → −0.036%: −$2.36
Slippage, 4 orders: −$158.76
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$183.12
Costs to cover: 1.808%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; BingX: live order book, 2 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	86.7 bp −$87	443.0 bp −$4,430	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	6.91 bp	25.7 bp −$26	58.7 bp −$587	324.5 bp −$32.5K	1224.0 bp −$612.0K

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	+0.075%	$234K	$552K	20x	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−1.250%	$9	$4K	5.5x	as long as short
Variational Omni SPX	+0.0064%	4h	0.5057	+0.296%	$885K	$1.3M	—	as long as short
Lighter SPX	+0.0096%	1h	0.5049	+0.133%	$116K	$319K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5055	+0.252%	$9.8M	$7.3M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5053	+0.227%	$127K	$103K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5049	+0.136%	$5.1M	$20.0M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5039	−0.060%	$11.7M	$15.5M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5050	+0.159%	$988K	$2.7M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5038	−0.079%	$1.0M	$476K	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	0.5049	+0.139%	$11.4M	$4.6M	100x	as long as short
KuCoin SPXUSDTMlong	+0.0100%	4h	0.5042	long leg	$3.8M	$5.2M	50x
Bitget SPXUSDT	+0.0100%	4h	0.5048	+0.119%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDTshort	+0.0100%	4h	0.5039	−0.060%	—	$6.9M	—
ApeX Omni SPXUSDT	+0.0100%	1h	0.5087	+0.893%	$46K	$247K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5055	+0.258%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5054	+0.238%	$8K	$1.6M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5047	+0.093%	$34K	$228K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5071	+0.575%	$255K	$937K	75x	as long as short