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: MEXC against BingX−0.020%7-day average +0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$65as in the Funding arb table

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

costs, in and out, $10k−$650.649% of the position

Long on BingX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 7 days+0.078%+$8 · spread now −0.020%, 7d avg +0.056%

Together, before fees+0.078%+$8 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: MEXC is 0.076% cheaper against BingX than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SPX-USDT	0.5017	0.0100	pay 0.0050% / 4h	19m 03s	—	$6.9M	—
Short	MEXC SPX_USDT	0.5016	0.0100	get 0.0050% / 4h	19m 03s	$11.7M	$4.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.020%Rate

Funding earned: $0
Price spread: −0.020% → +0.056%: −$7.63
Slippage, 4 orders: −$50.88
Fee BingX: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$72.51
Costs to cover: 0.649%
Break-even: never at this rate

Slippage from BingX: live order book, 4 min ago; MEXC: live order book, 4 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, 4 min ago	6.98 bp	23.5 bp −$24	58.3 bp −$583	417.7 bp −$41.8K	1235.4 bp −$617.7K
Sell MEXC live order book, 4 min ago	1.99 bp	10.1 bp −$10	23.8 bp −$238	148.6 bp −$14.9K	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	−0.757%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5024	+0.134%	$135K	$357K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5025	+0.153%	$10.2M	$7.5M	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5017	0.000%	$5.0M	$21.4M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5010	−0.140%	$11.3M	$16.3M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5016	−0.020%	$933K	$2.9M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5011	−0.120%	$999K	$563K	50x	as long as short
MEXC SPX_USDTshort	+0.0100%	4h	0.5016	−0.020%	$11.7M	$4.9M	100x
KuCoin SPXUSDTM	+0.0100%	4h	0.5016	−0.020%	$3.7M	$5.2M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5019	+0.040%	$2.6M	$1.4M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SPX-USDTlong	+0.0100%	4h	0.5017	long leg	—	$6.9M	—
Variational Omni SPX	+0.0100%	4h	0.5009	−0.158%	$844K	$1.4M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5017	0.000%	$25K	$254K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5012	−0.100%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5014	−0.056%	$33K	$245K	10x	as long as short
Aster SPXUSDT	+0.0148%	4h	0.5017	+0.005%	$134K	$122K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0164%	4h	0.5024	+0.140%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5021	+0.080%	$247K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1283%	1h	0.5029	+0.249%	$245K	$550K	20x	as long as short