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 −0.005%

Price spread now: KuCoin against Bitget−0.270%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$443as in the Funding arb table

Net, price: spread back to 7d avg − costs−$469as in the Price arb table

costs, in and out, $10k−$4424.417% of the position

Long on Bitget Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 7 days+0.340%+$34 · spread now −0.270%, 7d avg 0.000%

Together, before fees+0.322%+$32 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: KuCoin is 0.270% cheaper against Bitget than usual: you would sell low and buy high, −$27 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SPXUSDT	0.5191	0.0100	pay 0.0050% / 4h	1h 57m	$2.7M	$1.4M	50x
Short	KuCoin SPXUSDTM	0.5177	0.0100	get 0.0050% / 4h	1h 57m	$3.7M	$5.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.270%Rate

Funding earned: $0
Price spread: −0.270% → 0.000%: −$26.97
Slippage, 4 orders: −$417.67
Fee Bitget: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$468.63
Costs to cover: 4.417%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; KuCoin: 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 Bitget live order book, 3 min ago	8.65 bp	29.7 bp −$30	102.6 bp −$1,026	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	4.81 bp	176.6 bp −$177	323.1 bp −$3,231	doesn't fit	doesn't fit

SPX on 19 exchanges

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	−4.084%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5189	−0.039%	$147K	$354K	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5192	+0.011%	$140K	$95K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5184	−0.135%	$5.4M	$23.6M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5174	−0.327%	$12.2M	$17.7M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5170	−0.405%	$1.0M	$3.5M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5194	+0.058%	$1.0M	$677K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5183	−0.154%	$11.2M	$4.9M	100x	as long as short
KuCoin SPXUSDTMshort	+0.0100%	4h	0.5177	−0.270%	$3.7M	$5.5M	50x
Bitget SPXUSDTlong	+0.0100%	4h	0.5191	long leg	$2.7M	$1.4M	50x

Show all 19 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SPX-USDT	+0.0100%	4h	0.5189	−0.039%	—	$7.0M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5185	−0.120%	$981K	$1.6M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5211	+0.385%	$27K	$249K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5187	−0.077%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5174	−0.331%	$44K	$321K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0134%	4h	0.5193	+0.039%	$21K	$511	10x	as long as short
Hyperliquid SPX	+0.0267%	1h	0.5201	+0.193%	$10.9M	$8.9M	5x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5178	−0.250%	$263K	$974K	75x	as long as short
Kraken Futures PF_SPXUSD	+0.2450%	1h	0.5194	+0.067%	$279K	$548K	20x	as long as short