Funding arb · Price arb /

SPX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against MEXC+0.223%7-day average −0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$830.829% of the position

Long on MEXC Short on Bitget

What this pair did over the last

the charts below follow

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

Price spread, last 7 days−0.276%−$28 · spread now +0.223%, 7d avg −0.024%

Together, before fees−0.276%−$28 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 0.246% dearer against MEXC than usual: you sell high and buy low, +$25 on $10k if it goes back to its 7-day average of −0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SPX_USDT	0.5390	0.0100	pay 0.0050% / 4h	3h 00m	$11.8M	$5.1M	100x
Short	Bitget SPXUSDT	0.5402	0.0100	get 0.0050% / 4h	3h 00m	$2.8M	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.223%Rate

Funding earned: $0
Price spread: +0.223% → −0.024%: $24.64
Slippage, 4 orders: −$66.88
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$58.24
Costs to cover: 0.829%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Bitget: live order book, 2 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, 3 min ago	2.81 bp	9.1 bp −$9	31.9 bp −$319	163.2 bp −$16.3K	doesn't fit
Sell Bitget live order book, 2 min ago	9.30 bp	35.7 bp −$36	156.3 bp −$1,563	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	−7.625%	$9	$4K	5.5x	as long as short
Variational Omni SPX	+0.0066%	4h	0.5382	−0.148%	$993K	$1.6M	—	as long as short
Lighter SPX	+0.0096%	1h	0.5396	+0.121%	$148K	$406K	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5401	+0.204%	$144K	$94K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5396	+0.120%	$5.5M	$24.0M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5379	−0.204%	$12.6M	$18.1M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5383	−0.130%	$1.0M	$3.7M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5400	+0.186%	$1.1M	$680K	50x	as long as short
MEXC SPX_USDTlong	+0.0100%	4h	0.5390	long leg	$11.8M	$5.1M	100x
KuCoin SPXUSDTM	+0.0100%	4h	0.5400	+0.186%	$3.9M	$5.5M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPXUSDTshort	+0.0100%	4h	0.5402	+0.223%	$2.8M	$1.5M	50x
BingX SPX-USDT	+0.0100%	4h	0.5388	−0.037%	—	$7.0M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5267	−2.282%	$27K	$249K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5381	−0.167%	$8K	$1.8M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5393	+0.065%	$46K	$317K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0144%	4h	0.5407	+0.315%	$21K	$540	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5389	−0.019%	$259K	$1.0M	75x	as long as short
Hyperliquid SPX	+0.0463%	1h	0.5413	+0.427%	$11.4M	$9.1M	5x	as long as short
Kraken Futures PF_SPXUSD	+0.1398%	1h	0.5400	+0.190%	$276K	$553K	20x	as long as short