Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against MEXC+0.109%7-day average −0.097% · you sell dearer than you buy

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$840.837% of the position

Long on MEXC Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 4 days (all we have)−0.236%−$24 · spread now +0.109%, 7d avg −0.097%

Together, before fees−0.227%+ Points / potential airdropExtended: Active · farm board−$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: Extended is 0.206% dearer against MEXC than usual: you sell high and buy low, +$21 on $10k if it goes back to its 7-day average of −0.097%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SPX_USDT	0.5099	0.0100	pay 0.0050% / 4h	2h 21m	$11.8M	$5.2M	100x
Short	Extended SPX-USD	0.5105	0.0104	get 0.0013% / 1h	21m 00s	$34K	$252K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.109%Rate

Funding earned: $0.84
Price spread: +0.109% → −0.097%: $20.62
Slippage, 4 orders: −$74.69
Fee MEXC: 2 bp × 2 orders: −$4
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$62.22
Costs to cover: 0.837%
Break-even: 525.5 days

Slippage from MEXC: live order book, 2 min ago; Extended: live order book, 26 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, 2 min ago	0.99 bp	7.7 bp −$8	27.7 bp −$277	179.2 bp −$17.9K	doesn't fit
Sell Extended live order book, 26 min ago	3.53 bp	25.5 bp −$26	196.9 bp −$1,969	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	−2.353%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5088	−0.210%	$139K	$380K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5097	−0.041%	$10.3M	$7.9M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5096	−0.059%	$136K	$130K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5092	−0.143%	$5.1M	$22.5M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5091	−0.157%	$11.6M	$17.1M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5099	0.000%	$936K	$3.1M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5095	−0.078%	$1.0M	$606K	50x	as long as short
MEXC SPX_USDTlong	+0.0100%	4h	0.5099	long leg	$11.8M	$5.2M	100x
KuCoin SPXUSDTM	+0.0100%	4h	0.5099	0.000%	$3.7M	$5.4M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPXUSDT	+0.0100%	4h	0.5099	0.000%	$2.6M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5095	−0.078%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5076	−0.449%	$935K	$1.5M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5052	−0.922%	$26K	$255K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5075	−0.471%	$8K	$1.7M	20x	as long as short
Extended SPX-USDshort	+0.0104%	1h	0.5105	+0.109%	$34K	$252K	10x
Orderly PERP_SPX_USDC	+0.0173%	4h	0.5092	−0.137%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5084	−0.294%	$248K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1443%	1h	0.5095	−0.075%	$249K	$538K	20x	as long as short