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 +0.008%

Price spread now: SunX against Bybit+0.039%7-day average −0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$254as in the Funding arb table

Net, price: spread back to 7d avg − costs−$253as in the Price arb table

costs, in and out, $10k−$2602.602% of the position

Long on Bybit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.058%+$6 on $10k

Price spread, last 3 days (all we have)−0.178%−$18 · spread now +0.039%, 7d avg −0.035%

Together, before fees−0.120%−$12 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: SunX is 0.075% dearer against Bybit than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SPXUSDT	0.5091	0.0100	pay 0.0050% / 4h	1h 53m	$11.6M	$16.0M	50x
Short	SunX SPX-USDT	0.5093	0.0100	get 0.0050% / 4h	1h 53m	$8K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.039%Rate

Funding earned: $0
Price spread: +0.039% → −0.035%: $7.46
Slippage, 4 orders: −$241.23
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SunX: 4 bp × 2 orders: −$8
Net: −$252.77
Costs to cover: 2.602%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; SunX: live order book, 11 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, 5 min ago	3.92 bp	20.2 bp −$20	75.2 bp −$752	doesn't fit	doesn't fit
Sell SunX live order book, 11 min ago	32.30 bp	114.1 bp −$114	doesn't fit	doesn't fit	doesn't fit

SPX on 18 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
ApeX Omni SPXUSDT	−0.0727%	1h	0.5097	+0.118%	$46K	$244K	25x	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−2.200%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5106	+0.295%	$138K	$358K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5101	+0.200%	$10.3M	$7.4M	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5099	+0.157%	$5.2M	$21.0M	75x	as long as short
Bybit SPXUSDTlong	+0.0100%	4h	0.5091	long leg	$11.6M	$16.0M	50x
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5092	+0.020%	$952K	$2.9M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5091	0.000%	$1.0M	$551K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5099	+0.157%	$11.6M	$4.7M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5095	+0.079%	$3.7M	$5.3M	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPXUSDT	+0.0100%	4h	0.5101	+0.196%	$2.7M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5097	+0.118%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5135	+0.867%	$882K	$1.4M	—	as long as short
SunX SPX-USDTshort	+0.0100%	4h	0.5093	+0.039%	$8K	$1.6M	20x
Extended SPX-USD	+0.0104%	1h	0.5090	−0.014%	$34K	$251K	10x	as long as short
Aster SPXUSDT	+0.0147%	4h	0.5108	+0.326%	$130K	$111K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0148%	4h	0.5109	+0.354%	$20K	$599	10x	as long as short
Kraken Futures PF_SPXUSD	+0.1412%	1h	0.5107	+0.321%	$253K	$541K	20x	as long as short