Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: BingX against Gate−0.078%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$209as in the Funding arb table

Net, price: spread back to 7d avg − costs−$220as in the Price arb table

costs, in and out, $10k−$2112.110% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 7 days+0.147%+$15 · spread now −0.078%, 7d avg +0.012%

Together, before fees+0.165%+$16 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: BingX is 0.090% cheaper against Gate than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SPX_USDT	0.5124	0.0100	pay 0.0050% / 4h	3h 50m	$1.0M	$642K	50x
Short	BingX SPX-USDT	0.5120	0.0100	get 0.0050% / 4h	3h 50m	—	$7.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Gate. 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 GatebpFee BingXbpOrdersPrice spread, now −0.078%Rate

Funding earned: $0
Price spread: −0.078% → +0.012%: −$9.04
Slippage, 4 orders: −$186.03
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$220.07
Costs to cover: 2.110%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; BingX: 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 Gate live order book, 2 min ago	5.87 bp	79.2 bp −$79	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	7.82 bp	20.4 bp −$20	49.3 bp −$493	328.1 bp −$32.8K	1172.3 bp −$586.1K

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	−2.830%	$9	$4K	5.5x	as long as short
Variational Omni SPX	+0.0086%	4h	0.5116	−0.153%	$950K	$1.6M	—	as long as short
Lighter SPX	+0.0096%	1h	0.5128	+0.086%	$141K	$405K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5125	+0.029%	$10.4M	$8.4M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5129	+0.094%	$137K	$93K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5126	+0.039%	$5.1M	$23.8M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5115	−0.176%	$11.8M	$17.8M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5116	−0.156%	$979K	$3.4M	20x	as long as short
Gate SPX_USDTlong	+0.0100%	4h	0.5124	long leg	$1.0M	$642K	50x
MEXC SPX_USDT	+0.0100%	4h	0.5123	−0.020%	$11.6M	$5.0M	100x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SPXUSDTM	+0.0100%	4h	0.5125	+0.020%	$3.7M	$5.5M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5128	+0.078%	$2.6M	$1.5M	50x	as long as short
BingX SPX-USDTshort	+0.0100%	4h	0.5120	−0.078%	—	$7.0M	—
ApeX Omni SPXUSDT	+0.0100%	1h	0.5115	−0.176%	$26K	$249K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5131	+0.137%	$20K	$599	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5117	−0.137%	$8K	$1.8M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5125	+0.024%	$33K	$299K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5129	+0.098%	$252K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1467%	1h	0.5148	+0.459%	$260K	$553K	20x	as long as short