Funding arb · Price arb /

SPX

all SPX markets

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 0.000%

Price spread now: BingX against MEXC−0.039%7-day average −0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$720.719% of the position

Long on MEXC Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 7 days−0.094%−$9 · spread now −0.039%, 7d avg −0.061%

Together, before fees−0.094%−$9 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 0.021% dearer against MEXC than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.061%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SPX_USDT	0.5093	0.0100	pay 0.0050% / 4h	3h 28m	$11.2M	$4.7M	100x
Short	BingX SPX-USDT	0.5091	0.0100	get 0.0050% / 4h	3h 28m	—	$6.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against MEXC. 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 MEXCbpFee BingXbpOrdersPrice spread, now −0.039%Rate

Funding earned: $0
Price spread: −0.039% → −0.061%: $2.13
Slippage, 4 orders: −$57.9
Fee MEXC: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$69.77
Costs to cover: 0.719%
Break-even: never at this rate

Slippage from MEXC: 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 MEXC live order book, 5 min ago	1.96 bp	10.6 bp −$11	35.1 bp −$351	179.2 bp −$17.9K	doesn't fit
Sell BingX live order book, 10 min ago	9.80 bp	24.3 bp −$24	51.4 bp −$514	269.3 bp −$26.9K	1231.8 bp −$615.9K

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	−2.238%	$9	$4K	5.5x	as long as short
Variational Omni SPX	+0.0036%	4h	0.5092	−0.015%	$847K	$1.3M	—	as long as short
Lighter SPX	+0.0096%	1h	0.5096	+0.067%	$127K	$314K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5096	+0.057%	$10.0M	$7.8M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5095	+0.040%	$129K	$110K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5095	+0.038%	$5.1M	$21.3M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5087	−0.118%	$11.6M	$16.1M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5089	−0.079%	$965K	$2.8M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5091	−0.039%	$1.1M	$513K	50x	as long as short
MEXC SPX_USDTlong	+0.0100%	4h	0.5093	long leg	$11.2M	$4.7M	100x

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SPXUSDTM	+0.0100%	4h	0.5095	+0.039%	$3.8M	$5.4M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5095	+0.039%	$2.7M	$1.4M	50x	as long as short
BingX SPX-USDTshort	+0.0100%	4h	0.5091	−0.039%	—	$6.8M	—
ApeX Omni SPXUSDT	+0.0100%	1h	0.5101	+0.157%	$46K	$246K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5101	+0.157%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5082	−0.216%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5093	+0.008%	$33K	$264K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5103	+0.196%	$252K	$1.1M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.0959%	1h	0.5106	+0.262%	$248K	$554K	20x	as long as short