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: MEXC against KuCoin−0.058%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$182as in the Funding arb table

Net, price: spread back to 7d avg − costs−$192as in the Price arb table

costs, in and out, $10k−$1831.834% of the position

Long on KuCoin Short on MEXC

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+0.054%+$5 · spread now −0.058%, 7d avg +0.023%

Together, before fees+0.072%+$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: MEXC is 0.081% cheaper against KuCoin than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SPXUSDTM	0.5180	0.0100	pay 0.0050% / 4h	2h 13m	$3.8M	$5.4M	50x
Short	MEXC SPX_USDT	0.5177	0.0100	get 0.0050% / 4h	2h 13m	$11.9M	$5.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.058%Rate

Funding earned: $0
Price spread: −0.058% → +0.023%: −$8.11
Slippage, 4 orders: −$167.42
Fee KuCoin: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$191.53
Costs to cover: 1.834%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; MEXC: 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, 4 min ago	4.84 bp	56.4 bp −$56	445.4 bp −$4,454	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	3.88 bp	11.4 bp −$11	34.9 bp −$349	180.2 bp −$18.0K	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	−3.880%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5194	+0.266%	$150K	$389K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5191	+0.216%	$10.6M	$8.0M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5197	+0.319%	$139K	$92K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5191	+0.212%	$5.1M	$22.9M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5180	0.000%	$11.8M	$17.4M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5183	+0.058%	$975K	$3.3M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5187	+0.135%	$1.0M	$640K	50x	as long as short
MEXC SPX_USDTshort	+0.0100%	4h	0.5177	−0.058%	$11.9M	$5.2M	100x
KuCoin SPXUSDTMlong	+0.0100%	4h	0.5180	long leg	$3.8M	$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	0.5180	0.000%	$2.7M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5180	0.000%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5145	−0.673%	$947K	$1.5M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5209	+0.560%	$27K	$254K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5220	+0.772%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5180	+0.002%	$34K	$258K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0194%	4h	0.5201	+0.405%	$21K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5172	−0.154%	$246K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1401%	1h	0.5247	+1.284%	$262K	$544K	20x	as long as short