Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: Gate against SunX+0.238%53s7-day average +0.112% · you sell dearer than you buy

Net, funding: paid 7d − costs−$560as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$5585.580% of the position

Long on SunX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 4 days (all we have)+0.028%+$3 · spread now +0.238%, 7d avg +0.112%

Together, before fees+0.011%+$1 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: Gate is 0.126% dearer against SunX than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.112%. The two prices were read 53 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	0.5041	0.0100	pay 0.0050% / 4h	2h 32m	$8K	$1.7M	20x
Short	Gate SPX_USDT	0.5053	0.0100	get 0.0050% / 4h	2h 32m	$1.0M	$600K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.238%Rate

Funding earned: $0
Price spread: +0.238% → +0.112%: $12.62
Slippage, 4 orders: −$535.05
Fee SunX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$545.43
Costs to cover: 5.580%
Break-even: never at this rate

Slippage from SunX: live order book, 3 min ago; Gate: live order book, 5 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, 3 min ago	31.51 bp	107.9 bp −$108	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	7.89 bp	108.4 bp −$108	doesn't fit	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	−1.230%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5055	+0.286%	$138K	$380K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5059	+0.365%	$10.3M	$7.9M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5053	+0.231%	$135K	$130K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5057	+0.317%	$5.0M	$22.5M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5049	+0.159%	$11.5M	$17.1M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5053	+0.238%	$930K	$3.1M	20x	as long as short
Gate SPX_USDTshort	+0.0100%	4h	0.5053	+0.238%	$1.0M	$600K	50x
MEXC SPX_USDT	+0.0100%	4h	0.5063	+0.436%	$11.9M	$5.1M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5057	+0.317%	$3.7M	$5.4M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPXUSDT	+0.0100%	4h	0.5062	+0.417%	$2.6M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5054	+0.258%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5063	+0.441%	$933K	$1.5M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5088	+0.932%	$26K	$255K	25x	as long as short
SunX SPX-USDTlong	+0.0100%	4h	0.5041	long leg	$8K	$1.7M	20x
Extended SPX-USD	+0.0104%	1h	0.5062	+0.409%	$33K	$257K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0172%	4h	0.5062	+0.417%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5048	+0.139%	$249K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1453%	1h	0.5060	+0.370%	$247K	$544K	20x	as long as short