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 Binance−0.048%7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$118as in the Funding arb table

Net, price: spread back to 7d avg − costs−$114as in the Price arb table

costs, in and out, $10k−$1181.184% of the position

Long on Binance 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 7 days−0.027%−$3 · spread now −0.048%, 7d avg −0.092%

Together, before fees−0.027%−$3 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 0.044% dearer against Binance than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.092%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SPXUSDT	0.5038	0.0100	pay 0.0050% / 4h	2h 41m	$5.1M	$21.4M	75x
Short	OKX SPX-USDT-SWAP	0.5036	0.0100	get 0.0050% / 4h	2h 41m	$948K	$2.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.048%Rate

Funding earned: $0
Price spread: −0.048% → −0.092%: $4.36
Slippage, 4 orders: −$98.38
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$114.02
Costs to cover: 1.184%
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; OKX: live order book, 6 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, 14 min ago	1.98 bp	22.6 bp −$23	66.3 bp −$663	doesn't fit	doesn't fit
Sell OKX live order book, 6 min ago	2.98 bp	44.9 bp −$45	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	−1.180%	$9	$4K	5.5x	as long as short
Variational Omni SPX	+0.0081%	4h	0.5028	−0.213%	$841K	$1.3M	—	as long as short
Lighter SPX	+0.0096%	1h	0.5039	+0.005%	$136K	$358K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5048	+0.186%	$10.0M	$7.7M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5054	+0.311%	$128K	$111K	10x	as long as short
Binance SPXUSDTlong	+0.0100%	4h	0.5038	long leg	$5.1M	$21.4M	75x
Bybit SPXUSDT	+0.0100%	4h	0.5033	−0.108%	$11.4M	$16.2M	50x	as long as short
OKX SPX-USDT-SWAPshort	+0.0100%	4h	0.5036	−0.048%	$948K	$2.9M	20x
Gate SPX_USDT	+0.0100%	4h	0.5034	−0.088%	$1.0M	$549K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5040	+0.031%	$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	0.5035	−0.068%	$3.7M	$5.4M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5038	−0.009%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5035	−0.068%	—	$6.8M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5038	−0.009%	$45K	$246K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5036	−0.048%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5038	−0.013%	$37K	$261K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0109%	4h	0.5043	+0.091%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5071	+0.646%	$257K	$1.1M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1181%	1h	0.5057	+0.363%	$247K	$553K	20x	as long as short