Funding arb · Price arb /

SPX

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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 +0.018%

Price spread now: Bitget against KuCoin−0.078%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$238as in the Funding arb table

Net, price: spread back to 7d avg − costs−$247as in the Price arb table

costs, in and out, $10k−$2392.394% of the position

Long on KuCoin Short on Bitget

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+0.173%+$17 · spread now −0.078%, 7d avg 0.000%

Together, before fees+0.191%+$19 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: Bitget is 0.078% 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 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SPXUSDTM	0.5127	0.0100	pay 0.0050% / 4h	1h 55m	$3.8M	$5.3M	50x
Short	Bitget SPXUSDT	0.5123	0.0100	get 0.0050% / 4h	1h 55m	$2.7M	$1.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.078%Rate

Funding earned: $0
Price spread: −0.078% → 0.000%: −$7.75
Slippage, 4 orders: −$215.36
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$247.12
Costs to cover: 2.394%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Bitget: live order book, 1 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, 2 min ago	1.97 bp	107.7 bp −$108	462.9 bp −$4,629	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	8.83 bp	24.3 bp −$24	82.1 bp −$821	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
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−2.887%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5141	+0.273%	$139K	$358K	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5126	−0.020%	$5.2M	$21.1M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5122	−0.098%	$11.7M	$16.0M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5126	−0.020%	$959K	$2.9M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5123	−0.078%	$1.0M	$551K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5133	+0.117%	$11.7M	$4.7M	100x	as long as short
KuCoin SPXUSDTMlong	+0.0100%	4h	0.5127	long leg	$3.8M	$5.3M	50x
Bitget SPXUSDTshort	+0.0100%	4h	0.5123	−0.078%	$2.7M	$1.4M	50x
BingX SPX-USDT	+0.0100%	4h	0.5127	0.000%	—	$6.9M	—	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SPX	+0.0100%	4h	0.5135	+0.159%	$882K	$1.4M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5124	−0.059%	$46K	$244K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5133	+0.117%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5122	−0.102%	$35K	$252K	10x	as long as short
Hyperliquid SPX	+0.0114%	1h	0.5139	+0.240%	$10.3M	$7.5M	5x	as long as short
Aster SPXUSDT	+0.0118%	4h	0.5119	−0.163%	$130K	$111K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0153%	4h	0.5141	+0.273%	$20K	$599	10x	as long as short
Kraken Futures PF_SPXUSD	+0.1403%	1h	0.5143	+0.318%	$255K	$541K	20x	as long as short