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: KuCoin against Binance−0.110%7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$309as in the Funding arb table

Net, price: spread back to 7d avg − costs−$315as in the Price arb table

costs, in and out, $10k−$3073.068% of the position

Long on Binance Short on KuCoin

What this pair did over the last

the charts below follow

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

Price spread, last 7 days+0.082%+$8 · spread now −0.110%, 7d avg −0.031%

Together, before fees+0.064%+$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: KuCoin is 0.079% 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 −0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SPXUSDT	0.5111	0.0100	pay 0.0050% / 4h	1h 48m	$5.3M	$23.9M	75x
Short	KuCoin SPXUSDTM	0.5105	0.0100	get 0.0050% / 4h	1h 48m	$3.7M	$5.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.110%Rate

Funding earned: $0
Price spread: −0.110% → −0.031%: −$7.94
Slippage, 4 orders: −$284.79
Fee Binance: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$314.74
Costs to cover: 3.068%
Break-even: never at this rate

Slippage from Binance: live order book, just now; KuCoin: live order book, 2 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, just now	1.96 bp	21.5 bp −$21	68.6 bp −$686	709.5 bp −$70.9K	doesn't fit
Sell KuCoin live order book, 2 min ago	4.88 bp	170.1 bp −$170	316.0 bp −$3,160	doesn't fit	doesn't fit

SPX on 19 exchanges

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
ApeX Omni SPXUSDT	−0.0035%	1h	0.5121	+0.203%	$26K	$249K	25x	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−2.575%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5114	+0.074%	$145K	$354K	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5105	−0.102%	$137K	$93K	10x	as long as short
Binance SPXUSDTlong	+0.0100%	4h	0.5111	long leg	$5.3M	$23.9M	75x
Bybit SPXUSDT	+0.0100%	4h	0.5109	−0.032%	$12.0M	$17.8M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5108	−0.051%	$990K	$3.5M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5100	−0.208%	$1.0M	$683K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5113	+0.047%	$10.9M	$4.9M	100x	as long as short
KuCoin SPXUSDTMshort	+0.0100%	4h	0.5105	−0.110%	$3.7M	$5.5M	50x

Show all 19 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPXUSDT	+0.0100%	4h	0.5114	+0.066%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5110	−0.012%	—	$7.0M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5113	+0.041%	$972K	$1.7M	—	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5103	−0.149%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5109	−0.035%	$43K	$318K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0128%	4h	0.5113	+0.047%	$20K	$511	10x	as long as short
Hyperliquid SPX	+0.0169%	1h	0.5116	+0.107%	$10.7M	$8.9M	5x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5107	−0.071%	$264K	$963K	75x	as long as short
Kraken Futures PF_SPXUSD	+0.2485%	1h	0.5121	+0.195%	$276K	$548K	20x	as long as short