Funding arb · Price arb /

SPX

all SPX markets

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: BingX against Binance−0.036%7-day average −0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$850.854% of the position

Long on Binance Short on BingX

What this pair did over the last

the charts below follow

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

Price spread, last 7 days−0.039%−$4 · spread now −0.036%, 7d avg −0.060%

Together, before fees−0.039%−$4 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: BingX is 0.024% dearer against Binance than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.060%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SPXUSDT	0.5120	0.0100	pay 0.0050% / 4h	3h 51m	$5.1M	$23.8M	75x
Short	BingX SPX-USDT	0.5118	0.0100	get 0.0050% / 4h	3h 51m	—	$7.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Binance. 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 BinancebpFee BingXbpOrdersPrice spread, now −0.036%Rate

Funding earned: $0
Price spread: −0.036% → −0.060%: $2.39
Slippage, 4 orders: −$65.38
Fee Binance: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$82.98
Costs to cover: 0.854%
Break-even: never at this rate

Slippage from Binance: live order book, 5 min ago; BingX: live order book, 1 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 Binance live order book, 5 min ago	1.96 bp	23.1 bp −$23	65.0 bp −$650	doesn't fit	doesn't fit
Sell BingX live order book, 1 min ago	7.82 bp	20.4 bp −$20	49.3 bp −$493	328.1 bp −$32.8K	1172.3 bp −$586.1K

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	−2.751%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5131	+0.224%	$141K	$405K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5126	+0.126%	$10.4M	$8.4M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5113	−0.128%	$137K	$93K	10x	as long as short
Binance SPXUSDTlong	+0.0100%	4h	0.5120	long leg	$5.1M	$23.8M	75x
Bybit SPXUSDT	+0.0100%	4h	0.5115	−0.094%	$11.8M	$17.8M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5128	+0.160%	$980K	$3.4M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5115	−0.094%	$1.0M	$642K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5125	+0.101%	$11.7M	$5.0M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5117	−0.055%	$3.7M	$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 SPXUSDT	+0.0100%	4h	0.5133	+0.257%	$2.6M	$1.5M	50x	as long as short
BingX SPX-USDTshort	+0.0100%	4h	0.5118	−0.036%	—	$7.0M	—
Variational Omni SPX	+0.0100%	4h	0.5103	−0.326%	$952K	$1.6M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5115	−0.094%	$26K	$249K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5128	+0.160%	$20K	$599	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5117	−0.055%	$8K	$1.8M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5128	+0.164%	$33K	$299K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5129	+0.179%	$252K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1467%	1h	0.5148	+0.540%	$260K	$553K	20x	as long as short