Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.016%

Price spread now: KuCoin against BingX0.000%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$225as in the Funding arb table

Net, price: spread back to 7d avg − costs−$226as in the Price arb table

costs, in and out, $10k−$2232.227% of the position

Long on BingX 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+0.061%+$6 · spread now 0.000%, 7d avg +0.034%

Together, before fees+0.044%+$4 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 0.034% cheaper against BingX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SPX-USDT	0.5176	0.0100	pay 0.0050% / 4h	3h 20m	—	$6.9M	—
Short	KuCoin SPXUSDTM	0.5176	0.0100	get 0.0050% / 4h	3h 20m	$3.7M	$5.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against BingX. 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 BingXbpFee KuCoinbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.034%: −$3.39
Slippage, 4 orders: −$200.74
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$226.13
Costs to cover: 2.227%
Break-even: never at this rate

Slippage from BingX: live order book, 2 min ago; KuCoin: live order book, 3 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 BingX live order book, 2 min ago	8.81 bp	27.6 bp −$28	65.6 bp −$656	454.5 bp −$45.5K	doesn't fit
Sell KuCoin live order book, 3 min ago	1.96 bp	51.0 bp −$51	275.3 bp −$2,753	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	−3.806%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5181	+0.089%	$151K	$370K	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5177	+0.020%	$5.2M	$22.2M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5172	−0.077%	$11.8M	$17.0M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5174	−0.039%	$938K	$3.1M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5175	−0.019%	$1.0M	$589K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5177	+0.019%	$11.9M	$5.1M	100x	as long as short
KuCoin SPXUSDTMshort	+0.0100%	4h	0.5176	0.000%	$3.7M	$5.3M	50x
Bitget SPXUSDT	+0.0100%	4h	0.5176	0.000%	$2.7M	$1.5M	50x	as long as short
BingX SPX-USDTlong	+0.0100%	4h	0.5176	long leg	—	$6.9M	—

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SPX	+0.0100%	4h	0.5138	−0.732%	$955K	$1.5M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5130	−0.889%	$26K	$255K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5169	−0.135%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5169	−0.143%	$34K	$252K	10x	as long as short
Aster SPXUSDT	+0.0172%	4h	0.5160	−0.318%	$138K	$129K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0215%	4h	0.5178	+0.039%	$21K	$599	10x	as long as short
Hyperliquid SPX	+0.0239%	1h	0.5181	+0.087%	$10.6M	$7.8M	5x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5139	−0.715%	$255K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1211%	1h	0.5194	+0.345%	$254K	$549K	20x	as long as short