Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: SunX against Extended−0.202%7-day average −0.085% · you buy dearer than you sell

Net, funding: paid 7d − costs−$294as in the Funding arb table

Net, price: spread back to 7d avg − costs−$305as in the Price arb table

costs, in and out, $10k−$2932.930% of the position

Long on Extended Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)−0.003%$0 · spread now −0.202%, 7d avg −0.085%

Together, before fees−0.011%+ Points / potential airdropExtended: Active · farm board−$1 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 0.117% cheaper against Extended than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SPX-USD	0.5105	0.0104	pay 0.0013% / 1h	15m 33s	$33K	$302K	10x
Short	SunX SPX-USDT	0.5095	0.0100	get 0.0050% / 4h	15m 33s	$8K	$1.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Extended. 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 ExtendedbpFee SunXbpOrdersPrice spread, now −0.202%Rate

Funding earned: −$0.84
Price spread: −0.202% → −0.085%: −$11.7
Slippage, 4 orders: −$279.98
Fee Extended: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: −$305.52
Costs to cover: 2.930%
Break-even: never at this rate

Slippage from Extended: live order book, 21 min ago; SunX: live order book, 10 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 Extended live order book, 21 min ago	3.43 bp	38.1 bp −$38	233.6 bp −$2,336	doesn't fit	doesn't fit
Sell SunX live order book, 10 min ago	34.45 bp	116.5 bp −$117	doesn't fit	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	−2.474%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5106	+0.022%	$140K	$407K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5103	−0.041%	$10.3M	$8.3M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5103	−0.050%	$136K	$93K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5100	−0.095%	$5.1M	$23.8M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5098	−0.143%	$11.8M	$17.8M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5102	−0.064%	$972K	$3.4M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5100	−0.104%	$1.0M	$659K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5102	−0.064%	$11.7M	$5.1M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5103	−0.045%	$3.7M	$5.5M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPXUSDT	+0.0100%	4h	0.5101	−0.084%	$2.6M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5104	−0.025%	—	$7.0M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5092	−0.266%	$949K	$1.6M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5101	−0.084%	$26K	$248K	25x	as long as short
SunX SPX-USDTshort	+0.0100%	4h	0.5095	−0.202%	$8K	$1.8M	20x
Extended SPX-USDlong	+0.0104%	1h	0.5105	long leg	$33K	$302K	10x
Orderly PERP_SPX_USDC	+0.0141%	4h	0.5108	+0.053%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5100	−0.104%	$253K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1269%	1h	0.5112	+0.125%	$255K	$552K	20x	as long as short