Funding arb · Price arb /

SPX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.017%

Price spread now: Extended against KuCoin+0.021%7-day average −0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$223as in the Funding arb table

Net, price: spread back to 7d avg − costs−$220as in the Price arb table

costs, in and out, $10k−$2262.260% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.026%+$3 on $10k

Price spread, last 4 days (all we have)−0.098%−$10 · spread now +0.021%, 7d avg −0.043%

Together, before fees−0.072%+ Points / potential airdropExtended: Active · farm board−$7 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: Extended is 0.064% dearer against KuCoin than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SPXUSDTM	0.5123	0.0100	pay 0.0050% / 4h	2h 55m	$3.7M	$5.4M	50x
Short	Extended SPX-USD	0.5124	0.0104	get 0.0013% / 1h	55m 11s	$34K	$252K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.021%Rate

Funding earned: $0.84
Price spread: +0.021% → −0.043%: $6.43
Slippage, 4 orders: −$208.97
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$218.71
Costs to cover: 2.260%
Break-even: 1829.6 days

Slippage from KuCoin: live order book, 8 min ago; Extended: live order book, 57 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, 8 min ago	2.93 bp	110.8 bp −$111	500.1 bp −$5,001	doesn't fit	doesn't fit
Sell Extended live order book, 57 min ago	3.40 bp	30.6 bp −$31	212.0 bp −$2,120	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	−2.811%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5130	+0.127%	$140K	$380K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5131	+0.156%	$10.4M	$7.9M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5130	+0.137%	$137K	$130K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5130	+0.133%	$5.1M	$22.4M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5119	−0.078%	$11.6M	$17.1M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5126	+0.059%	$935K	$3.1M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5122	−0.020%	$1.0M	$595K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5127	+0.078%	$11.9M	$5.1M	100x	as long as short
KuCoin SPXUSDTMlong	+0.0100%	4h	0.5123	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	0.5123	0.000%	$2.7M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5119	−0.078%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5127	+0.070%	$945K	$1.5M	—	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5114	−0.176%	$8K	$1.7M	20x	as long as short
Extended SPX-USDshort	+0.0104%	1h	0.5124	+0.021%	$34K	$252K	10x
Orderly PERP_SPX_USDC	+0.0200%	4h	0.5133	+0.195%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5126	+0.059%	$255K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1432%	1h	0.5133	+0.204%	$251K	$546K	20x	as long as short
ApeX Omni SPXUSDT	+0.2348%	1h	0.5163	+0.781%	$26K	$254K	25x	as long as short