Funding arb · Price arb /

SPX

all SPX markets

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 −0.002%

Price spread now: Bitget against Orderly0.000%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_SPX_USDC	0.5053	0.0100	pay 0.0050% / 4h	35m 30s	$20K	$711	10x
Short	Bitget SPXUSDT	0.5053	0.0100	get 0.0050% / 4h	35m 30s	$2.6M	$1.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Orderly. 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 OrderlybpFee BitgetbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$18
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Bitget: live order book, 2 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Bitget live order book, 2 min ago	12.83 bp	32.8 bp −$33	114.7 bp −$1,147	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1175%	1h	0.5074	+0.413%	$241K	$560K	20x	as long as short
Variational Omni SPX	−0.0019%	4h	0.5052	−0.021%	$845K	$1.3M	—	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−1.464%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5051	−0.042%	$116K	$319K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5055	+0.042%	$9.9M	$7.7M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5056	+0.068%	$129K	$109K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5051	−0.040%	$5.0M	$21.0M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5039	−0.277%	$11.5M	$16.1M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5043	−0.198%	$960K	$2.8M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5048	−0.099%	$1.0M	$499K	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_USDT	+0.0100%	4h	0.5050	−0.059%	$11.2M	$4.7M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5049	−0.079%	$3.7M	$5.3M	50x	as long as short
Bitget SPXUSDTshort	+0.0100%	4h	0.5053	0.000%	$2.6M	$1.4M	50x
BingX SPX-USDT	+0.0100%	4h	0.5047	−0.119%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5060	+0.139%	$45K	$246K	25x	as long as short
Orderly PERP_SPX_USDClong	+0.0100%	4h	0.5053	long leg	$20K	$711	10x
SunX SPX-USDT	+0.0100%	4h	0.5051	−0.040%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5050	−0.056%	$34K	$228K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5058	+0.099%	$247K	$985K	75x	as long as short