Funding arb · Price arb /

SPX

all SPX markets

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 0.000%

Price spread now: BingX against OKX+0.079%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$108as in the Price arb table

costs, in and out, $10k−$1121.124% of the position

Long on OKX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 7 days−0.083%−$8 · spread now +0.079%, 7d avg +0.031%

Together, before fees−0.083%−$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: BingX is 0.048% dearer against OKX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SPX-USDT-SWAP	0.5050	0.0100	pay 0.0050% / 4h	1h 15m	$943K	$2.9M	20x
Short	BingX SPX-USDT	0.5054	0.0100	get 0.0050% / 4h	1h 15m	—	$6.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against OKX. 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 OKXbpFee BingXbpOrdersPrice spread, now +0.079%Rate

Funding earned: $0
Price spread: +0.079% → +0.031%: $4.84
Slippage, 4 orders: −$92.44
Fee OKX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$107.61
Costs to cover: 1.124%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; BingX: live order book, 2 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 OKX live order book, 1 min ago	3.95 bp	34.7 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	7.92 bp	22.3 bp −$22	48.0 bp −$480	210.9 bp −$21.1K	1165.2 bp −$582.6K

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	−1.406%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5059	+0.182%	$136K	$359K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5055	+0.097%	$10.1M	$7.4M	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5055	+0.101%	$5.1M	$21.1M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5049	−0.020%	$11.5M	$16.1M	50x	as long as short
OKX SPX-USDT-SWAPlong	+0.0100%	4h	0.5050	long leg	$943K	$2.9M	20x
Gate SPX_USDT	+0.0100%	4h	0.5055	+0.099%	$1.0M	$559K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5053	+0.059%	$11.9M	$4.8M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5053	+0.059%	$3.7M	$5.3M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5056	+0.119%	$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-USDTshort	+0.0100%	4h	0.5054	+0.079%	—	$6.9M	—
Variational Omni SPX	+0.0100%	4h	0.5060	+0.198%	$881K	$1.4M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5082	+0.634%	$25K	$253K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5053	+0.059%	$8K	$1.6M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5054	+0.072%	$33K	$250K	10x	as long as short
Aster SPXUSDT	+0.0140%	4h	0.5061	+0.211%	$129K	$111K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0144%	4h	0.5070	+0.396%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5055	+0.099%	$254K	$988K	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1423%	1h	0.5070	+0.400%	$251K	$544K	20x	as long as short