Funding arb · Price arb /

SPX

all SPX markets

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: SunX against Gate−0.080%7-day average −0.117% · you buy dearer than you sell

Net, funding: paid 7d − costs−$386as in the Funding arb table

Net, price: spread back to 7d avg − costs−$385as in the Price arb table

costs, in and out, $10k−$3883.884% of the position

Long on Gate Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.026%+$3 on $10k

Price spread, last 3 days (all we have)−0.393%−$39 · spread now −0.080%, 7d avg −0.117%

Together, before fees−0.368%−$37 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 0.037% dearer against Gate than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.117%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SPX_USDT	0.4997	0.0100	pay 0.0050% / 4h	2h 07m	$1.0M	$478K	50x
Short	SunX SPX-USDT	0.4993	0.0100	get 0.0050% / 4h	2h 07m	$8K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.080%Rate

Funding earned: $0
Price spread: −0.080% → −0.117%: $3.7
Slippage, 4 orders: −$365.38
Fee Gate: 7.5 bp × 2 orders: −$15
Fee SunX: 4 bp × 2 orders: −$8
Net: −$384.68
Costs to cover: 3.884%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; SunX: live order book, 8 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, 5 min ago	6.98 bp	74.0 bp −$74	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 8 min ago	31.85 bp	114.2 bp −$114	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
Kraken Futures PF_SPXUSD	−0.0416%	1h	0.4992	−0.092%	$231K	$560K	20x	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−0.360%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.4998	+0.020%	$115K	$319K	5x	as long as short
Variational Omni SPX	+0.0100%	4h	0.5010	+0.258%	$874K	$1.3M	—	as long as short
Hyperliquid SPX	+0.0100%	1h	0.4993	−0.072%	$9.7M	$7.3M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5002	+0.110%	$123K	$99K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.4994	−0.060%	$4.9M	$19.6M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.4992	−0.100%	$11.6M	$15.5M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.4992	−0.100%	$969K	$2.6M	20x	as long as short
Gate SPX_USDTlong	+0.0100%	4h	0.4997	long leg	$1.0M	$478K	50x

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SPX_USDT	+0.0100%	4h	0.4995	−0.040%	$11.4M	$4.6M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.4998	+0.020%	$3.8M	$5.2M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5000	+0.060%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.4992	−0.100%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5001	+0.080%	$45K	$248K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5001	+0.080%	$20K	$711	10x	as long as short
SunX SPX-USDTshort	+0.0100%	4h	0.4993	−0.080%	$8K	$1.6M	20x
Extended SPX-USD	+0.0104%	1h	0.4992	−0.094%	$34K	$226K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.4996	−0.020%	$251K	$907K	75x	as long as short