Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0244%/8h= +26.7% APRpaid last 24h +0.071%

Price spread now: BloFin against Lighter+0.054%7-day average −0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$890.889% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.361%+$36 on $10k

Price spread, last 4 days (all we have)−0.208%−$21 · spread now +0.054%, 7d avg −0.054%

Together, before fees+0.153%+ Points / potential airdropLighter: Season 3 · farm board+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.108% dearer against Lighter than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SPX	0.5177	0.0096	pay 0.0012% / 1h	46m 46s	$143K	$403K	5x
Short	BloFin SPX-USDT	0.5180	0.0340	get 0.0170% / 4h	1h 46m	$261K	$1.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Lighter. 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 LighterbpFee BloFinbpOrdersPrice spread, now +0.054%Rate

Funding earned: $51.24
Price spread: +0.054% → −0.054%: $10.85
Slippage, 4 orders: −$76.88
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$26.79
Costs to cover: 0.889%
Break-even: 10.7 days

Slippage from Lighter: live order book, 53 min ago; BloFin: live order book, just now.

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 Lighter live order book, 53 min ago	26.94 bp	27.0 bp −$27	83.4 bp −$834	doesn't fit	doesn't fit
Sell BloFin live order book, just now	3.87 bp	15.1 bp −$15	28.2 bp −$282	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	−3.828%	$9	$4K	5.5x	as long as short
Lighter SPXlong	+0.0096%	1h	0.5177	long leg	$143K	$403K	5x
Aster SPXUSDT	+0.0100%	4h	0.5177	−0.007%	$138K	$92K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5171	−0.119%	$5.3M	$23.6M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5164	−0.255%	$11.8M	$17.6M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5167	−0.197%	$991K	$3.4M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5174	−0.062%	$1.0M	$637K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5175	−0.042%	$11.8M	$5.3M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5171	−0.120%	$3.7M	$5.4M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5174	−0.062%	$2.7M	$1.5M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SPX-USDT	+0.0100%	4h	0.5180	+0.054%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5195	+0.337%	$965K	$1.5M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5195	+0.344%	$26K	$254K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5168	−0.178%	$8K	$1.8M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5166	−0.214%	$34K	$248K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0187%	4h	0.5186	+0.170%	$21K	$599	10x	as long as short
BloFin SPX-USDTshort	+0.0340%	4h	0.5180	+0.054%	$261K	$1.0M	75x
Hyperliquid SPX	+0.0368%	1h	0.5179	+0.027%	$10.5M	$8.2M	5x	as long as short
Kraken Futures PF_SPXUSD	+0.1596%	1h	0.5189	+0.219%	$256K	$555K	20x	as long as short