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 −0.008%

Price spread now: Bybit against SunX+0.060%7-day average +0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$267as in the Funding arb table

Net, price: spread back to 7d avg − costs−$259as in the Price arb table

costs, in and out, $10k−$2622.616% of the position

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

Price spread, last 4 days (all we have)+0.246%+$25 · spread now +0.060%, 7d avg +0.038%

Together, before fees+0.188%+$19 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: Bybit is 0.022% dearer against SunX than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX SPX-USDT	0.5005	0.0100	pay 0.0050% / 4h	4m 59s	$8K	$1.7M	20x
Short	Bybit SPXUSDT	0.5008	0.0100	get 0.0050% / 4h	4m 59s	$11.3M	$16.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.060%Rate

Funding earned: $0
Price spread: +0.060% → +0.038%: $2.22
Slippage, 4 orders: −$242.58
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$259.36
Costs to cover: 2.616%
Break-even: never at this rate

Slippage from SunX: live order book, 10 min ago; Bybit: live order book, 3 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, 10 min ago	31.02 bp	110.9 bp −$111	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	2.98 bp	18.1 bp −$18	61.5 bp −$615	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
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−0.519%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5019	+0.270%	$135K	$357K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5015	+0.202%	$10.1M	$7.6M	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5013	+0.159%	$5.0M	$21.5M	75x	as long as short
Bybit SPXUSDTshort	+0.0100%	4h	0.5008	+0.060%	$11.3M	$16.4M	50x
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5015	+0.200%	$929K	$2.9M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5011	+0.120%	$1.0M	$567K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5014	+0.180%	$11.7M	$4.9M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5014	+0.180%	$3.6M	$5.3M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5014	+0.180%	$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-USDT	+0.0100%	4h	0.5011	+0.120%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5013	+0.162%	$844K	$1.4M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5036	+0.619%	$26K	$254K	25x	as long as short
SunX SPX-USDTlong	+0.0100%	4h	0.5005	long leg	$8K	$1.7M	20x
Extended SPX-USD	+0.0104%	1h	0.5014	+0.171%	$33K	$241K	10x	as long as short
Aster SPXUSDT	+0.0130%	4h	0.5020	+0.292%	$134K	$122K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0173%	4h	0.5023	+0.360%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5017	+0.240%	$248K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1286%	1h	0.5019	+0.274%	$245K	$550K	20x	as long as short