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: BingX against Binance−0.143%7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$900.903% of the position

Long on Binance 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 7 days+0.061%+$6 · spread now −0.143%, 7d avg −0.062%

Together, before fees+0.061%+$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: BingX is 0.081% cheaper against Binance than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.062%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SPXUSDT	0.5106	0.0100	pay 0.0050% / 4h	2h 21m	$5.2M	$21.2M	75x
Short	BingX SPX-USDT	0.5099	0.0100	get 0.0050% / 4h	2h 21m	—	$6.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Binance. 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 BinancebpFee BingXbpOrdersPrice spread, now −0.143%Rate

Funding earned: $0
Price spread: −0.143% → −0.062%: −$8.08
Slippage, 4 orders: −$70.29
Fee Binance: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$98.37
Costs to cover: 0.903%
Break-even: never at this rate

Slippage from Binance: live order book, 4 min ago; BingX: 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 Binance live order book, 4 min ago	0.98 bp	20.8 bp −$21	59.2 bp −$592	doesn't fit	doesn't fit
Sell BingX live order book, 1 min ago	7.81 bp	23.5 bp −$23	61.9 bp −$619	270.8 bp −$27.1K	1136.6 bp −$568.3K

SPX on 18 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	−2.493%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5117	+0.212%	$138K	$358K	5x	as long as short
Variational Omni SPX	+0.0100%	4h	0.5111	+0.086%	$884K	$1.4M	—	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5114	+0.155%	$10.2M	$7.7M	5x	as long as short
Binance SPXUSDTlong	+0.0100%	4h	0.5106	long leg	$5.2M	$21.2M	75x
Bybit SPXUSDT	+0.0100%	4h	0.5099	−0.143%	$11.6M	$16.1M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5099	−0.143%	$954K	$2.9M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5113	+0.132%	$1.0M	$556K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5107	+0.014%	$11.6M	$4.9M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5108	+0.034%	$3.7M	$5.3M	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPXUSDT	+0.0100%	4h	0.5109	+0.053%	$2.7M	$1.4M	50x	as long as short
BingX SPX-USDTshort	+0.0100%	4h	0.5099	−0.143%	—	$6.8M	—
ApeX Omni SPXUSDT	+0.0100%	1h	0.5120	+0.269%	$46K	$243K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5111	+0.092%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5095	−0.218%	$37K	$260K	10x	as long as short
Aster SPXUSDT	+0.0127%	4h	0.5116	+0.199%	$130K	$111K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0128%	4h	0.5119	+0.249%	$20K	$599	10x	as long as short
Kraken Futures PF_SPXUSD	+0.1167%	1h	0.5116	+0.195%	$253K	$544K	20x	as long as short