Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.005%

Price spread now: Bybit against Binance−0.037%7-day average −0.139% · you buy dearer than you sell

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$830.834% of the position

Long on Binance 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 7 days−0.154%−$15 · spread now −0.037%, 7d avg −0.139%

Together, before fees−0.212%−$21 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 0.101% dearer against Binance than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.139%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SPXUSDT	0.5346	0.0100	pay 0.0050% / 4h	3h 03m	$5.4M	$23.7M	75x
Short	Bybit SPXUSDT	0.5344	0.0100	get 0.0050% / 4h	3h 03m	$12.4M	$17.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.037%Rate

Funding earned: $0
Price spread: −0.037% → −0.139%: $10.14
Slippage, 4 orders: −$62.44
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$73.3
Costs to cover: 0.834%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; Bybit: live order book, just now.

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, 8 min ago	4.75 bp	24.6 bp −$25	56.5 bp −$565	doesn't fit	doesn't fit
Sell Bybit live order book, just now	4.69 bp	19.1 bp −$19	50.8 bp −$508	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	−6.865%	$9	$4K	5.5x	as long as short
Variational Omni SPX	+0.0051%	4h	0.5246	−1.877%	$969K	$1.6M	—	as long as short
Lighter SPX	+0.0096%	1h	0.5342	−0.075%	$147K	$406K	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5319	−0.505%	$142K	$92K	10x	as long as short
Binance SPXUSDTlong	+0.0100%	4h	0.5346	long leg	$5.4M	$23.7M	75x
Bybit SPXUSDTshort	+0.0100%	4h	0.5344	−0.037%	$12.4M	$17.9M	50x
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5346	0.000%	$1.0M	$3.6M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5331	−0.281%	$1.1M	$667K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5338	−0.150%	$11.8M	$5.1M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5330	−0.299%	$3.8M	$5.5M	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	0.5341	−0.094%	$2.7M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5345	−0.019%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5267	−1.478%	$27K	$249K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5333	−0.243%	$8K	$1.8M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5336	−0.185%	$48K	$307K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0128%	4h	0.5335	−0.206%	$21K	$540	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5335	−0.206%	$260K	$1.0M	75x	as long as short
Hyperliquid SPX	+0.0378%	1h	0.5362	+0.305%	$11.3M	$8.8M	5x	as long as short
Kraken Futures PF_SPXUSD	+0.1406%	1h	0.5369	+0.422%	$275K	$550K	20x	as long as short