Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against MEXC−0.067%7-day average −0.100% · you buy dearer than you sell

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$770.768% of the position

Long on MEXC Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 4 days (all we have)−0.176%−$18 · spread now −0.067%, 7d avg −0.100%

Together, before fees−0.167%+ Points / potential airdropExtended: Active · farm board−$17 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: Extended is 0.033% dearer against MEXC than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.100%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SPX_USDT	0.5011	0.0100	pay 0.0050% / 4h	15m 27s	$11.7M	$4.9M	100x
Short	Extended SPX-USD	0.5008	0.0104	get 0.0013% / 1h	15m 27s	$33K	$247K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.067%Rate

Funding earned: $0.84
Price spread: −0.067% → −0.100%: $3.26
Slippage, 4 orders: −$67.8
Fee MEXC: 2 bp × 2 orders: −$4
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$72.7
Costs to cover: 0.768%
Break-even: 612.8 days

Slippage from MEXC: live order book, 3 min ago; Extended: live order book, 42 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	1.00 bp	9.1 bp −$9	28.5 bp −$285	174.2 bp −$17.4K	doesn't fit
Sell Extended live order book, 42 min ago	3.29 bp	32.8 bp −$33	221.2 bp −$2,212	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	−0.639%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5012	+0.022%	$134K	$357K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5016	+0.096%	$10.1M	$7.5M	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5006	−0.092%	$5.0M	$21.5M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5002	−0.180%	$11.3M	$16.4M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5006	−0.100%	$930K	$2.9M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5003	−0.160%	$998K	$563K	50x	as long as short
MEXC SPX_USDTlong	+0.0100%	4h	0.5011	long leg	$11.7M	$4.9M	100x
KuCoin SPXUSDTM	+0.0100%	4h	0.5005	−0.120%	$3.7M	$5.3M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5015	+0.080%	$2.6M	$1.4M	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	0.5007	−0.080%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5003	−0.167%	$843K	$1.4M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5017	+0.120%	$26K	$254K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5002	−0.180%	$8K	$1.7M	20x	as long as short
Extended SPX-USDshort	+0.0104%	1h	0.5008	−0.067%	$33K	$247K	10x
Aster SPXUSDT	+0.0125%	4h	0.5011	+0.002%	$134K	$122K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0163%	4h	0.5014	+0.060%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5019	+0.160%	$251K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1286%	1h	0.5020	+0.173%	$245K	$550K	20x	as long as short