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 0.000%

Price spread now: BingX against SunX+0.359%55s7-day average +0.113% · you sell dearer than you buy

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

Long on SunX 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 3 days (all we have)+0.066%+$7 · spread now +0.359%, 7d avg +0.113%

Together, before fees+0.066%+$7 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 0.246% dearer against SunX than usual: you sell high and buy low, +$25 on $10k if it goes back to its 7-day average of +0.113%. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX SPX-USDT	0.5015	0.0100	pay 0.0050% / 4h	2h 14m	$8K	$1.6M	20x
Short	BingX SPX-USDT	0.5033	0.0100	get 0.0050% / 4h	2h 14m	—	$6.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against SunX. 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 SunXbpFee BingXbpOrdersPrice spread, now +0.359%Rate

Funding earned: $0
Price spread: +0.359% → +0.113%: $24.6
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: $6.6
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: SunX: live order book, 11 min ago; BingX: live order book, 8 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 SunX live order book, 11 min ago	501.09 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	6.95 bp	26.5 bp −$26	54.9 bp −$549	286.6 bp −$28.7K	1189.2 bp −$594.6K

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
Kraken Futures PF_SPXUSD	−0.0413%	1h	0.5029	+0.274%	$233K	$560K	20x	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−0.718%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5035	+0.395%	$116K	$319K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5031	+0.319%	$9.8M	$7.2M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5027	+0.248%	$124K	$97K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5029	+0.283%	$5.0M	$19.5M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5030	+0.299%	$11.7M	$15.5M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5032	+0.339%	$975K	$2.6M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5026	+0.219%	$1.0M	$477K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5029	+0.279%	$11.5M	$4.6M	100x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SPXUSDTM	+0.0100%	4h	0.5029	+0.279%	$3.8M	$5.2M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5036	+0.419%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDTshort	+0.0100%	4h	0.5033	+0.359%	—	$6.9M	—
Variational Omni SPX	+0.0100%	4h	0.5025	+0.205%	$876K	$1.3M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5037	+0.439%	$45K	$248K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5038	+0.459%	$20K	$711	10x	as long as short
SunX SPX-USDTlong	+0.0100%	4h	0.5015	long leg	$8K	$1.6M	20x
Extended SPX-USD	+0.0104%	1h	0.5027	+0.245%	$34K	$226K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5029	+0.279%	$250K	$913K	75x	as long as short