Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.020%

Price spread now: KuCoin against Orderly+0.019%57s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_SPX_USDC	0.5139	0.0100	pay 0.0050% / 4h	3h 30m	$20K	$200	10x
Short	KuCoin SPXUSDTM	0.5140	0.0100	get 0.0050% / 4h	3h 30m	$3.8M	$5.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Orderly. 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 OrderlybpFee KuCoinbpOrdersPrice spread, now +0.019%Rate

Funding earned: $0
Price spread: +0.019% → 0.000%: $1.95
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$16.05
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; KuCoin: live order book, 3 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 3 min ago	2.92 bp	48.7 bp −$49	289.9 bp −$2,899	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Kraken Futures PF_SPXUSD	−0.1338%	1h	0.5143	+0.077%	$239K	$559K	20x	as long as short
Variational Omni SPX	−0.0102%	4h	0.5127	−0.235%	$901K	$1.2M	—	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−3.113%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5156	+0.329%	$119K	$320K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5150	+0.210%	$10.2M	$6.9M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5138	−0.028%	$125K	$94K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5149	+0.195%	$5.2M	$19.3M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5145	+0.117%	$12.0M	$15.3M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5143	+0.078%	$1.0M	$2.6M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5135	−0.078%	$1.1M	$474K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SPX_USDT	+0.0100%	4h	0.5141	+0.039%	$12.3M	$4.3M	100x	as long as short
KuCoin SPXUSDTMshort	+0.0100%	4h	0.5140	+0.019%	$3.8M	$5.2M	50x
Bitget SPXUSDT	+0.0100%	4h	0.5145	+0.117%	$2.7M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5148	+0.175%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5134	−0.097%	$46K	$248K	25x	as long as short
Orderly PERP_SPX_USDClong	+0.0100%	4h	0.5139	long leg	$20K	$200	10x
SunX SPX-USDT	+0.0100%	4h	0.5125	−0.272%	$8K	$1.6M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5149	+0.187%	$35K	$231K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5136	−0.058%	$266K	$972K	75x	as long as short