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 +0.017%

Price spread now: Gate against KuCoin−0.159%7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$358as in the Funding arb table

Net, price: spread back to 7d avg − costs−$369as in the Price arb table

costs, in and out, $10k−$3583.578% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 7 days+0.019%+$2 · spread now −0.159%, 7d avg −0.047%

Together, before fees+0.016%+$2 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: Gate is 0.111% cheaper against KuCoin than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SPXUSDTM	0.5038	0.0100	pay 0.0050% / 4h	2m 25s	$3.7M	$5.3M	50x
Short	Gate SPX_USDT	0.5030	0.0100	get 0.0050% / 4h	2m 25s	$1.0M	$567K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.159%Rate

Funding earned: $0
Price spread: −0.159% → −0.047%: −$11.13
Slippage, 4 orders: −$330.78
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$368.92
Costs to cover: 3.578%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Gate: live order book, 5 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, 5 min ago	2.98 bp	71.4 bp −$71	466.4 bp −$4,664	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	7.98 bp	87.7 bp −$88	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
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−1.171%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5046	+0.159%	$135K	$357K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5051	+0.262%	$10.2M	$7.6M	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5046	+0.166%	$5.1M	$21.6M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5035	−0.060%	$11.4M	$16.4M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5054	+0.318%	$937K	$2.9M	20x	as long as short
Gate SPX_USDTshort	+0.0100%	4h	0.5030	−0.159%	$1.0M	$567K	50x
MEXC SPX_USDT	+0.0100%	4h	0.5044	+0.119%	$11.8M	$4.9M	100x	as long as short
KuCoin SPXUSDTMlong	+0.0100%	4h	0.5038	long leg	$3.7M	$5.3M	50x
Bitget SPXUSDT	+0.0100%	4h	0.5042	+0.079%	$2.6M	$1.4M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SPX-USDT	+0.0100%	4h	0.5039	+0.020%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5013	−0.494%	$844K	$1.4M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5014	−0.476%	$26K	$254K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5036	−0.040%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5055	+0.339%	$33K	$241K	10x	as long as short
Aster SPXUSDT	+0.0140%	4h	0.5036	−0.041%	$134K	$122K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0179%	4h	0.5048	+0.198%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5042	+0.079%	$249K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1275%	1h	0.5062	+0.477%	$247K	$550K	20x	as long as short