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 −0.019%

Price spread now: Bybit against MEXC−0.080%7-day average −0.143% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$650.652% of the position

Long on MEXC Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.066%−$7 on $10k

Price spread, last 7 days−0.160%−$16 · spread now −0.080%, 7d avg −0.143%

Together, before fees−0.226%−$23 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: Bybit is 0.063% dearer against MEXC than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.143%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SPX_USDT	0.5013	0.0100	pay 0.0050% / 4h	2h 37m	$11.5M	$4.5M	100x
Short	Bybit SPXUSDT	0.5009	0.0100	get 0.0050% / 4h	2h 37m	$11.6M	$15.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against MEXC. 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 MEXCbpFee BybitbpOrdersPrice spread, now −0.080%Rate

Funding earned: $0
Price spread: −0.080% → −0.143%: $6.31
Slippage, 4 orders: −$50.23
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$58.92
Costs to cover: 0.652%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Bybit: live order book, 1 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 MEXC live order book, 5 min ago	2.99 bp	10.5 bp −$11	21.8 bp −$218	158.1 bp −$15.8K	doesn't fit
Sell Bybit live order book, 1 min ago	2.00 bp	22.0 bp −$22	74.1 bp −$741	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
Kraken Futures PF_SPXUSD	−0.0415%	1h	0.5008	−0.106%	$229K	$557K	20x	as long as short
Variational Omni SPX	−0.0029%	4h	0.5004	−0.179%	$843K	$1.3M	—	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−0.678%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5017	+0.070%	$115K	$319K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5018	+0.100%	$9.8M	$7.2M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5004	−0.183%	$123K	$97K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5011	−0.040%	$4.9M	$19.5M	75x	as long as short
Bybit SPXUSDTshort	+0.0100%	4h	0.5009	−0.080%	$11.6M	$15.4M	50x
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5014	+0.020%	$975K	$2.6M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5007	−0.120%	$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_USDTlong	+0.0100%	4h	0.5013	long leg	$11.5M	$4.5M	100x
KuCoin SPXUSDTM	+0.0100%	4h	0.5010	−0.060%	$3.8M	$5.2M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5019	+0.120%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5005	−0.160%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5011	−0.040%	$45K	$248K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5010	−0.060%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.4995	−0.359%	$8K	$1.6M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5016	+0.070%	$34K	$226K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5000	−0.259%	$252K	$910K	75x	as long as short