Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.008%

Price spread now: Bybit against Bitget−0.157%7-day average −0.109% · you buy dearer than you sell

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$1041.044% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

Price spread, last 7 days−0.010%−$1 · spread now −0.157%, 7d avg −0.109%

Together, before fees−0.068%−$7 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: Bybit is 0.048% cheaper against Bitget than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.109%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SPXUSDT	0.5099	0.0100	pay 0.0050% / 4h	2h 20m	$2.6M	$1.5M	50x
Short	Bybit SPXUSDT	0.5091	0.0100	get 0.0050% / 4h	2h 20m	$11.6M	$17.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. 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 BitgetbpFee BybitbpOrdersPrice spread, now −0.157%Rate

Funding earned: $0
Price spread: −0.157% → −0.109%: −$4.77
Slippage, 4 orders: −$81.43
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$109.2
Costs to cover: 1.044%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; Bybit: live order book, 3 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 Bitget live order book, 1 min ago	10.83 bp	26.2 bp −$26	103.2 bp −$1,032	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.98 bp	24.8 bp −$25	84.1 bp −$841	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	−2.353%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5088	−0.210%	$139K	$380K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5097	−0.041%	$10.3M	$7.9M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5096	−0.059%	$136K	$130K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5092	−0.143%	$5.1M	$22.5M	75x	as long as short
Bybit SPXUSDTshort	+0.0100%	4h	0.5091	−0.157%	$11.6M	$17.1M	50x
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5099	0.000%	$936K	$3.1M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5095	−0.078%	$1.0M	$606K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5099	0.000%	$11.8M	$5.2M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5099	0.000%	$3.7M	$5.4M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPXUSDTlong	+0.0100%	4h	0.5099	long leg	$2.6M	$1.5M	50x
BingX SPX-USDT	+0.0100%	4h	0.5095	−0.078%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5076	−0.449%	$935K	$1.5M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5052	−0.922%	$26K	$255K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5075	−0.471%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5105	+0.109%	$34K	$252K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0173%	4h	0.5092	−0.137%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5084	−0.294%	$248K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1443%	1h	0.5095	−0.075%	$249K	$538K	20x	as long as short