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: KuCoin against MEXC−0.096%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$185as in the Funding arb table

Net, price: spread back to 7d avg − costs−$191as in the Price arb table

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

Long on MEXC Short on KuCoin

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+0.099%+$10 · spread now −0.096%, 7d avg −0.023%

Together, before fees+0.082%+$8 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: KuCoin is 0.073% cheaper against MEXC than usual: you would sell low and buy high, −$7 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	MEXC SPX_USDT	0.5209	0.0100	pay 0.0050% / 4h	2h 12m	$12.0M	$5.2M	100x
Short	KuCoin SPXUSDTM	0.5204	0.0100	get 0.0050% / 4h	2h 12m	$3.8M	$5.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.096%Rate

Funding earned: $0
Price spread: −0.096% → −0.023%: −$7.28
Slippage, 4 orders: −$167.42
Fee MEXC: 2 bp × 2 orders: −$4
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$190.7
Costs to cover: 1.834%
Break-even: never at this rate

Slippage from MEXC: live order book, 6 min ago; KuCoin: 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 MEXC live order book, 6 min ago	3.88 bp	10.4 bp −$10	42.5 bp −$425	188.8 bp −$18.9K	doesn't fit
Sell KuCoin live order book, 5 min ago	4.84 bp	105.1 bp −$105	304.5 bp −$3,045	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	−4.415%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5208	−0.012%	$154K	$393K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5216	+0.144%	$10.6M	$8.0M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5201	−0.151%	$139K	$92K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5212	+0.058%	$5.2M	$23.0M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5206	−0.058%	$11.8M	$17.4M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5205	−0.077%	$981K	$3.3M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5202	−0.134%	$1.0M	$642K	50x	as long as short
MEXC SPX_USDTlong	+0.0100%	4h	0.5209	long leg	$12.0M	$5.2M	100x
KuCoin SPXUSDTMshort	+0.0100%	4h	0.5204	−0.096%	$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	0.5208	−0.019%	$2.7M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5208	−0.019%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5145	−1.226%	$947K	$1.5M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5209	0.000%	$27K	$254K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5187	−0.422%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5208	−0.028%	$34K	$258K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0198%	4h	0.5217	+0.154%	$21K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5200	−0.173%	$245K	$1.1M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1412%	1h	0.5208	−0.024%	$254K	$553K	20x	as long as short