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 0.000%

Price spread now: Bitget against SunX+0.322%7-day average +0.163% · you sell dearer than you buy

Net, funding: paid 7d − costs−$279as in the Funding arb table

Net, price: spread back to 7d avg − costs−$263as in the Price arb table

costs, in and out, $10k−$2792.791% of the position

Long on SunX Short on Bitget

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)+0.060%+$6 · spread now +0.322%, 7d avg +0.163%

Together, before fees+0.060%+$6 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: Bitget is 0.158% dearer against SunX than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of +0.163%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX SPX-USDT	0.4976	0.0100	pay 0.0050% / 4h	1h 00m	$8K	$1.7M	20x
Short	Bitget SPXUSDT	0.4992	0.0100	get 0.0050% / 4h	1h 00m	$2.6M	$1.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.322%Rate

Funding earned: $0
Price spread: +0.322% → +0.163%: $15.81
Slippage, 4 orders: −$259.1
Fee SunX: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$263.29
Costs to cover: 2.791%
Break-even: never at this rate

Slippage from SunX: live order book, 4 min ago; Bitget: live order book, 1 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 SunX live order book, 4 min ago	32.08 bp	102.6 bp −$103	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	12.04 bp	28.1 bp −$28	99.3 bp −$993	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
Kraken Futures PF_SPXUSD	−0.1257%	1h	0.4986	+0.202%	$237K	$560K	20x	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	+0.060%	$9	$4K	5.5x	as long as short
Variational Omni SPX	+0.0035%	4h	0.4975	−0.024%	$838K	$1.3M	—	as long as short
Lighter SPX	+0.0096%	1h	0.4983	+0.145%	$115K	$319K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.4996	+0.396%	$9.6M	$7.5M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.4987	+0.229%	$126K	$108K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.4987	+0.227%	$4.9M	$20.7M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.4989	+0.261%	$11.4M	$15.9M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.4990	+0.281%	$965K	$2.7M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.4980	+0.080%	$1.0M	$495K	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	0.4987	+0.221%	$11.2M	$4.7M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.4984	+0.161%	$3.7M	$5.3M	50x	as long as short
Bitget SPXUSDTshort	+0.0100%	4h	0.4992	+0.322%	$2.6M	$1.4M	50x
BingX SPX-USDT	+0.0100%	4h	0.4978	+0.040%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.4991	+0.301%	$45K	$247K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.4991	+0.301%	$20K	$711	10x	as long as short
SunX SPX-USDTlong	+0.0100%	4h	0.4976	long leg	$8K	$1.7M	20x
Extended SPX-USD	+0.0104%	1h	0.4992	+0.322%	$34K	$228K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.4987	+0.221%	$246K	$946K	75x	as long as short