Funding arb · Price arb /

SPX

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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 +0.018%

Price spread now: Bitget against KuCoin−0.039%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$191as in the Funding arb table

Net, price: spread back to 7d avg − costs−$197as in the Price arb table

costs, in and out, $10k−$1931.925% of the position

Long on KuCoin Short on Bitget

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+0.263%+$26 · spread now −0.039%, 7d avg +0.001%

Together, before fees+0.282%+$28 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: Bitget is 0.041% cheaper against KuCoin than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SPXUSDTM	0.5085	0.0100	pay 0.0050% / 4h	3h 15m	$3.7M	$5.4M	50x
Short	Bitget SPXUSDT	0.5083	0.0100	get 0.0050% / 4h	3h 15m	$2.7M	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.039%Rate

Funding earned: $0
Price spread: −0.039% → +0.001%: −$4.08
Slippage, 4 orders: −$168.51
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$196.59
Costs to cover: 1.925%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Bitget: 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	2.96 bp	85.5 bp −$86	429.2 bp −$4,292	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	8.87 bp	31.0 bp −$31	94.2 bp −$942	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
Variational Omni SPX	+0.0018%	4h	0.5068	−0.340%	$847K	$1.3M	—	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−2.085%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5091	+0.116%	$117K	$323K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5092	+0.134%	$9.9M	$7.8M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5079	−0.110%	$128K	$110K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5088	+0.059%	$5.1M	$21.3M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5085	0.000%	$11.6M	$16.1M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5087	+0.039%	$963K	$2.8M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5081	−0.079%	$1.1M	$518K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5088	+0.059%	$11.2M	$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 SPXUSDTMlong	+0.0100%	4h	0.5085	long leg	$3.7M	$5.4M	50x
Bitget SPXUSDTshort	+0.0100%	4h	0.5083	−0.039%	$2.7M	$1.5M	50x
BingX SPX-USDT	+0.0100%	4h	0.5092	+0.138%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5072	−0.256%	$46K	$247K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5085	0.000%	$20K	$599	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5064	−0.413%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5089	+0.077%	$36K	$265K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5069	−0.315%	$253K	$1.1M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.0960%	1h	0.5101	+0.305%	$247K	$553K	20x	as long as short