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: OKX against MEXC−0.215%7-day average −0.089% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$870.868% of the position

Long on MEXC Short on OKX

What this pair did over the last

the charts below follow

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

Price spread, last 7 days+0.089%+$9 · spread now −0.215%, 7d avg −0.089%

Together, before fees+0.089%+$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: OKX is 0.126% cheaper against MEXC than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.089%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SPX_USDT	0.5105	0.0100	pay 0.0050% / 4h	2h 18m	$11.6M	$4.9M	100x
Short	OKX SPX-USDT-SWAP	0.5094	0.0100	get 0.0050% / 4h	2h 18m	$954K	$2.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.215%Rate

Funding earned: $0
Price spread: −0.215% → −0.089%: −$12.64
Slippage, 4 orders: −$72.8
Fee MEXC: 2 bp × 2 orders: −$4
Fee OKX: 5 bp × 2 orders: −$10
Net: −$99.43
Costs to cover: 0.868%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; OKX: live order book, 4 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	1.95 bp	8.4 bp −$8	17.8 bp −$178	151.3 bp −$15.1K	doesn't fit
Sell OKX live order book, 4 min ago	6.87 bp	28.9 bp −$29	doesn't fit	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	−2.468%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5111	+0.123%	$138K	$358K	5x	as long as short
Variational Omni SPX	+0.0100%	4h	0.5098	−0.136%	$882K	$1.4M	—	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5106	+0.025%	$10.2M	$7.7M	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5108	+0.059%	$5.2M	$21.2M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5096	−0.176%	$11.6M	$16.1M	50x	as long as short
OKX SPX-USDT-SWAPshort	+0.0100%	4h	0.5094	−0.215%	$954K	$2.9M	20x
Gate SPX_USDT	+0.0100%	4h	0.5097	−0.157%	$1.0M	$556K	50x	as long as short
MEXC SPX_USDTlong	+0.0100%	4h	0.5105	long leg	$11.6M	$4.9M	100x
KuCoin SPXUSDTM	+0.0100%	4h	0.5102	−0.059%	$3.7M	$5.3M	50x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPXUSDT	+0.0100%	4h	0.5101	−0.078%	$2.7M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5104	−0.020%	—	$6.8M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5106	+0.020%	$46K	$243K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5095	−0.196%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5105	+0.003%	$37K	$257K	10x	as long as short
Aster SPXUSDT	+0.0112%	4h	0.5103	−0.043%	$130K	$111K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0128%	4h	0.5114	+0.176%	$20K	$599	10x	as long as short
Kraken Futures PF_SPXUSD	+0.1167%	1h	0.5117	+0.236%	$253K	$545K	20x	as long as short