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 −0.008%

Price spread now: Bybit against Bitget−0.039%7-day average −0.113% · you buy dearer than you sell

Net, funding: paid 7d − costs−$116as in the Funding arb table

Net, price: spread back to 7d avg − costs−$103as in the Price arb table

costs, in and out, $10k−$1101.101% of the position

Long on Bitget 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−0.183%−$18 · spread now −0.039%, 7d avg −0.113%

Together, before fees−0.241%−$24 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 0.074% dearer against Bitget than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.113%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SPXUSDT	0.5160	0.0100	pay 0.0050% / 4h	2h 57m	$2.7M	$1.5M	50x
Short	Bybit SPXUSDT	0.5158	0.0100	get 0.0050% / 4h	2h 57m	$11.7M	$17.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. 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 BitgetbpFee BybitbpOrdersPrice spread, now −0.039%Rate

Funding earned: $0
Price spread: −0.039% → −0.113%: $7.39
Slippage, 4 orders: −$87.13
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$102.74
Costs to cover: 1.101%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; Bybit: live order book, 1 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 Bitget live order book, 5 min ago	9.74 bp	23.4 bp −$23	119.5 bp −$1,195	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	2.93 bp	24.5 bp −$25	59.9 bp −$599	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	−3.508%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5166	+0.110%	$141K	$380K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5167	+0.138%	$10.5M	$7.9M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5149	−0.219%	$137K	$130K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5158	−0.039%	$5.2M	$22.4M	75x	as long as short
Bybit SPXUSDTshort	+0.0100%	4h	0.5158	−0.039%	$11.7M	$17.1M	50x
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5152	−0.155%	$942K	$3.2M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5155	−0.097%	$1.0M	$595K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5162	+0.039%	$12.0M	$5.1M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5156	−0.078%	$3.7M	$5.4M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPXUSDTlong	+0.0100%	4h	0.5160	long leg	$2.7M	$1.5M	50x
BingX SPX-USDT	+0.0100%	4h	0.5165	+0.097%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5135	−0.492%	$947K	$1.5M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5122	−0.736%	$26K	$254K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5153	−0.136%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5158	−0.037%	$34K	$254K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0199%	4h	0.5162	+0.039%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5150	−0.194%	$256K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1419%	1h	0.5181	+0.401%	$253K	$546K	20x	as long as short