Funding arb · Price arb /

SPX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: KuCoin against Bybit+0.039%7-day average +0.116% · you sell dearer than you buy

Net, funding: paid 7d − costs−$179as in the Funding arb table

Net, price: spread back to 7d avg − costs−$192as in the Price arb table

costs, in and out, $10k−$1841.842% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.048%+$5 on $10k

Price spread, last 7 days+0.059%+$6 · spread now +0.039%, 7d avg +0.116%

Together, before fees+0.107%+$11 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 0.077% cheaper against Bybit than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.116%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SPXUSDT	0.5134	0.0100	pay 0.0050% / 4h	3h 31m	$11.9M	$15.2M	50x
Short	KuCoin SPXUSDTM	0.5136	0.0100	get 0.0050% / 4h	3h 31m	$3.8M	$5.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bybit. 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 BybitbpFee KuCoinbpOrdersPrice spread, now +0.039%Rate

Funding earned: $0
Price spread: +0.039% → +0.116%: −$7.74
Slippage, 4 orders: −$161.22
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$191.96
Costs to cover: 1.842%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; 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 Bybit live order book, 3 min ago	1.95 bp	17.1 bp −$17	74.7 bp −$747	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	2.92 bp	48.7 bp −$49	289.9 bp −$2,899	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
Kraken Futures PF_SPXUSD	−0.1338%	1h	0.5143	+0.174%	$239K	$559K	20x	as long as short
Variational Omni SPX	−0.0080%	4h	0.5134	−0.008%	$905K	$1.2M	—	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−3.019%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5140	+0.117%	$118K	$320K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5152	+0.349%	$10.2M	$6.9M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5133	−0.014%	$125K	$94K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5134	−0.005%	$5.2M	$19.3M	75x	as long as short
Bybit SPXUSDTlong	+0.0100%	4h	0.5134	long leg	$11.9M	$15.2M	50x
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5134	0.000%	$1.0M	$2.6M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5134	0.000%	$1.1M	$474K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SPX_USDT	+0.0100%	4h	0.5139	+0.097%	$12.3M	$4.3M	100x	as long as short
KuCoin SPXUSDTMshort	+0.0100%	4h	0.5136	+0.039%	$3.8M	$5.2M	50x
Bitget SPXUSDT	+0.0100%	4h	0.5142	+0.156%	$2.7M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5145	+0.214%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5134	0.000%	$46K	$248K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5139	+0.097%	$20K	$200	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5125	−0.175%	$8K	$1.6M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5134	+0.009%	$35K	$231K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5136	+0.039%	$266K	$972K	75x	as long as short