Funding arb · Price arb /

SPX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.016%

Price spread now: BingX against KuCoin−0.116%7-day average −0.032% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$189as in the Price arb table

costs, in and out, $10k−$1811.806% of the position

Long on KuCoin 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+0.045%+$4 · spread now −0.116%, 7d avg −0.032%

Together, before fees+0.062%+$6 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 0.084% cheaper against KuCoin than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SPXUSDTM	0.5167	0.0100	pay 0.0050% / 4h	1h 12m	$3.7M	$5.4M	50x
Short	BingX SPX-USDT	0.5161	0.0100	get 0.0050% / 4h	1h 12m	—	$6.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against KuCoin. 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 KuCoinbpFee BingXbpOrdersPrice spread, now −0.116%Rate

Funding earned: $0
Price spread: −0.116% → −0.032%: −$8.39
Slippage, 4 orders: −$158.59
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$188.98
Costs to cover: 1.806%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; BingX: 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 KuCoin live order book, 5 min ago	4.82 bp	66.9 bp −$67	457.5 bp −$4,575	doesn't fit	doesn't fit
Sell BingX live order book, 10 min ago	9.66 bp	29.6 bp −$30	58.0 bp −$580	332.2 bp −$33.2K	1242.3 bp −$621.2K

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	−3.638%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5167	+0.002%	$141K	$405K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5169	+0.035%	$10.5M	$8.3M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5170	+0.058%	$138K	$93K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5164	−0.058%	$5.2M	$23.7M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5160	−0.135%	$11.8M	$17.6M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5158	−0.174%	$974K	$3.4M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5163	−0.077%	$1.0M	$652K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5164	−0.058%	$11.9M	$5.3M	100x	as long as short
KuCoin SPXUSDTMlong	+0.0100%	4h	0.5167	long leg	$3.7M	$5.4M	50x

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPXUSDT	+0.0100%	4h	0.5166	−0.019%	$2.7M	$1.5M	50x	as long as short
BingX SPX-USDTshort	+0.0100%	4h	0.5161	−0.116%	—	$6.9M	—
Variational Omni SPX	+0.0100%	4h	0.5172	+0.099%	$963K	$1.5M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5174	+0.135%	$26K	$254K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5154	−0.252%	$8K	$1.8M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5162	−0.097%	$34K	$243K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0184%	4h	0.5170	+0.058%	$21K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5158	−0.174%	$257K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1595%	1h	0.5194	+0.521%	$258K	$555K	20x	as long as short