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 0.000%

Price spread now: OKX against SunX+0.494%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$310as in the Funding arb table

Net, price: spread back to 7d avg − costs−$264as in the Price arb table

costs, in and out, $10k−$3103.100% of the position

Long on SunX Short on OKX

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)−0.351%−$35 · spread now +0.494%, 7d avg +0.032%

Together, before fees−0.351%−$35 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: OKX is 0.462% dearer against SunX than usual: you sell high and buy low, +$46 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX SPX-USDT	0.5064	0.0100	pay 0.0050% / 4h	3h 15m	$8K	$1.7M	20x
Short	OKX SPX-USDT-SWAP	0.5089	0.0100	get 0.0050% / 4h	3h 15m	$963K	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.494%Rate

Funding earned: $0
Price spread: +0.494% → +0.032%: $46.21
Slippage, 4 orders: −$291.97
Fee SunX: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$263.76
Costs to cover: 3.100%
Break-even: never at this rate

Slippage from SunX: live order book, 10 min ago; OKX: 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, 10 min ago	31.45 bp	107.6 bp −$108	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	4.93 bp	42.2 bp −$42	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
Variational Omni SPX	+0.0018%	4h	0.5068	+0.073%	$847K	$1.3M	—	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−1.679%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5093	+0.571%	$117K	$323K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5092	+0.549%	$9.9M	$7.8M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5080	+0.307%	$128K	$110K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5090	+0.512%	$5.1M	$21.3M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5088	+0.474%	$11.6M	$16.1M	50x	as long as short
OKX SPX-USDT-SWAPshort	+0.0100%	4h	0.5089	+0.494%	$963K	$2.8M	20x
Gate SPX_USDT	+0.0100%	4h	0.5087	+0.454%	$1.1M	$518K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5091	+0.533%	$11.2M	$4.8M	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	0.5080	+0.316%	$3.7M	$5.4M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5097	+0.652%	$2.7M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5092	+0.553%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5072	+0.158%	$46K	$247K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5085	+0.415%	$20K	$599	10x	as long as short
SunX SPX-USDTlong	+0.0100%	4h	0.5064	long leg	$8K	$1.7M	20x
Extended SPX-USD	+0.0104%	1h	0.5092	+0.551%	$36K	$265K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5069	+0.099%	$253K	$1.1M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.0960%	1h	0.5101	+0.721%	$247K	$553K	20x	as long as short