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 SunX−0.604%57s7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$283as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2832.829% of the position

Long on SunX 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 3 days (all we have)+0.713%+$71 · spread now −0.604%, 7d avg +0.034%

Together, before fees+0.713%+$71 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 0.638% cheaper against SunX than usual: you would sell low and buy high, −$64 on $10k if it goes back to its 7-day average of +0.034%. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX SPX-USDT	0.5133	0.0100	pay 0.0050% / 4h	1h 55m	$8K	$1.7M	20x
Short	OKX SPX-USDT-SWAP	0.5102	0.0100	get 0.0050% / 4h	1h 55m	$955K	$2.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against SunX. 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 SunXbpFee OKXbpOrdersPrice spread, now −0.604%Rate

Funding earned: $0
Price spread: −0.604% → +0.034%: −$63.81
Slippage, 4 orders: −$264.95
Fee SunX: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$346.76
Costs to cover: 2.829%
Break-even: never at this rate

Slippage from SunX: live order book, 10 min ago; OKX: 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 SunX live order book, 10 min ago	32.30 bp	107.3 bp −$107	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	3.92 bp	29.5 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
ApeX Omni SPXUSDT	−0.0727%	1h	0.5097	−0.701%	$46K	$244K	25x	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−3.000%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5117	−0.308%	$138K	$358K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5112	−0.415%	$10.3M	$7.5M	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5115	−0.352%	$5.2M	$21.1M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5109	−0.468%	$11.6M	$16.0M	50x	as long as short
OKX SPX-USDT-SWAPshort	+0.0100%	4h	0.5102	−0.604%	$955K	$2.9M	20x
Gate SPX_USDT	+0.0100%	4h	0.5117	−0.312%	$1.0M	$551K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5114	−0.370%	$11.7M	$4.7M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5122	−0.214%	$3.8M	$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	0.5113	−0.390%	$2.7M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5108	−0.487%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5135	+0.042%	$882K	$1.4M	—	as long as short
SunX SPX-USDTlong	+0.0100%	4h	0.5133	long leg	$8K	$1.7M	20x
Extended SPX-USD	+0.0104%	1h	0.5108	−0.491%	$34K	$252K	10x	as long as short
Aster SPXUSDT	+0.0132%	4h	0.5123	−0.188%	$130K	$111K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0154%	4h	0.5121	−0.234%	$20K	$599	10x	as long as short
Kraken Futures PF_SPXUSD	+0.1403%	1h	0.5143	+0.200%	$255K	$541K	20x	as long as short