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 −0.002%

Price spread now: MEXC against Orderly−0.237%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on MEXC

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: MEXC is 0.237% cheaper against Orderly than usual: you would sell low and buy high, −$24 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_SPX_USDC	0.5067	0.0100	pay 0.0050% / 4h	54m 01s	$20K	$711	10x
Short	MEXC SPX_USDT	0.5055	0.0100	get 0.0050% / 4h	54m 01s	$11.3M	$4.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.237%Rate

Funding earned: $0
Price spread: −0.237% → 0.000%: −$23.68
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$33.68
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; MEXC: live order book, 9 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 MEXC live order book, 9 min ago	2.01 bp	10.6 bp −$11	34.3 bp −$343	143.6 bp −$14.4K	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	−0.1176%	1h	0.5067	−0.005%	$241K	$560K	20x	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−1.737%	$9	$4K	5.5x	as long as short
Variational Omni SPX	+0.0062%	4h	0.5034	−0.645%	$847K	$1.3M	—	as long as short
Lighter SPX	+0.0096%	1h	0.5062	−0.107%	$116K	$318K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5055	−0.231%	$9.7M	$7.5M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5053	−0.273%	$128K	$108K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5053	−0.275%	$4.9M	$20.9M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5051	−0.316%	$11.6M	$16.0M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5050	−0.336%	$967K	$2.8M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5061	−0.118%	$1.0M	$494K	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_USDTshort	+0.0100%	4h	0.5055	−0.237%	$11.3M	$4.7M	100x
KuCoin SPXUSDTM	+0.0100%	4h	0.5061	−0.118%	$3.8M	$5.3M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5058	−0.178%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5056	−0.217%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5032	−0.691%	$45K	$247K	25x	as long as short
Orderly PERP_SPX_USDClong	+0.0100%	4h	0.5067	long leg	$20K	$711	10x
SunX SPX-USDT	+0.0100%	4h	0.5051	−0.316%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5059	−0.157%	$34K	$228K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5052	−0.296%	$244K	$962K	75x	as long as short