Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: SunX against Extended−0.030%7-day average −0.079% · you buy dearer than you sell

Net, funding: paid 7d − costs−$285as in the Funding arb table

Net, price: spread back to 7d avg − costs−$280as in the Price arb table

costs, in and out, $10k−$2852.846% of the position

Long on Extended Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 3 days (all we have)−0.393%−$39 · spread now −0.030%, 7d avg −0.079%

Together, before fees−0.401%+ Points / potential airdropExtended: Active · farm board−$40 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: SunX is 0.050% dearer against Extended than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.079%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SPX-USD	0.4983	0.0104	pay 0.0013% / 1h	4m 59s	$34K	$226K	10x
Short	SunX SPX-USDT	0.4982	0.0100	get 0.0050% / 4h	2h 04m	$8K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Extended. 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 ExtendedbpFee SunXbpOrdersPrice spread, now −0.030%Rate

Funding earned: −$0.84
Price spread: −0.030% → −0.079%: $4.96
Slippage, 4 orders: −$271.62
Fee Extended: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: −$280.5
Costs to cover: 2.846%
Break-even: never at this rate

Slippage from Extended: live order book, 17 min ago; SunX: live order book, 10 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 Extended live order book, 17 min ago	3.28 bp	32.2 bp −$32	217.2 bp −$2,172	doesn't fit	doesn't fit
Sell SunX live order book, 10 min ago	31.85 bp	114.2 bp −$114	doesn't fit	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
Kraken Futures PF_SPXUSD	−0.0416%	1h	0.4991	+0.153%	$231K	$560K	20x	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−0.090%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.4996	+0.247%	$115K	$319K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.4994	+0.203%	$9.7M	$7.3M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.4994	+0.211%	$124K	$99K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.4990	+0.132%	$4.9M	$19.6M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.4983	−0.010%	$11.6M	$15.5M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.4982	−0.030%	$968K	$2.6M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.4986	+0.051%	$1.0M	$479K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.4987	+0.071%	$11.4M	$4.6M	100x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SPXUSDTM	+0.0100%	4h	0.4989	+0.111%	$3.8M	$5.2M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.4991	+0.151%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.4990	+0.131%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.4978	−0.104%	$869K	$1.3M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.4998	+0.291%	$45K	$248K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.4997	+0.271%	$20K	$711	10x	as long as short
SunX SPX-USDTshort	+0.0100%	4h	0.4982	−0.030%	$8K	$1.6M	20x
Extended SPX-USDlong	+0.0104%	1h	0.4983	long leg	$34K	$226K	10x
BloFin SPX-USDT	+0.0340%	4h	0.4987	+0.071%	$250K	$906K	75x	as long as short