Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.006%

Price spread now: Lighter against Gate+0.204%7-day average +0.111% · you sell dearer than you buy

Net, funding: paid 7d − costs−$258as in the Funding arb table

Net, price: spread back to 7d avg − costs−$252as in the Price arb table

costs, in and out, $10k−$2612.610% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.034%+$3 on $10k

Price spread, last 4 days (all we have)−0.353%−$35 · spread now +0.204%, 7d avg +0.111%

Together, before fees−0.320%+ Points / potential airdropLighter: Season 3 · farm board−$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: Lighter is 0.093% dearer against Gate than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.111%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SPX_USDT	0.5043	0.0100	pay 0.0050% / 4h	1h 33m	$1.0M	$556K	50x
Short	Lighter SPX	0.5053	0.0096	get 0.0012% / 1h	33m 47s	$135K	$359K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now +0.204%Rate

Funding earned: −$0.84
Price spread: +0.204% → +0.111%: $9.31
Slippage, 4 orders: −$245.99
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$252.52
Costs to cover: 2.610%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Lighter: live order book, 21 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 Gate live order book, 3 min ago	5.95 bp	104.9 bp −$105	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 21 min ago	23.01 bp	23.0 bp −$23	69.5 bp −$695	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	−1.269%	$9	$4K	5.5x	as long as short
Lighter SPXshort	+0.0096%	1h	0.5053	+0.204%	$135K	$359K	5x
Hyperliquid SPX	+0.0100%	1h	0.5049	+0.119%	$10.1M	$7.4M	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5049	+0.118%	$5.1M	$21.1M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5048	+0.099%	$11.5M	$16.1M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5050	+0.139%	$943K	$2.9M	20x	as long as short
Gate SPX_USDTlong	+0.0100%	4h	0.5043	long leg	$1.0M	$556K	50x
MEXC SPX_USDT	+0.0100%	4h	0.5050	+0.139%	$11.9M	$4.7M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5043	0.000%	$3.7M	$5.3M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5046	+0.059%	$2.6M	$1.4M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SPX-USDT	+0.0100%	4h	0.5043	0.000%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5052	+0.169%	$885K	$1.4M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5051	+0.159%	$45K	$243K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5041	−0.040%	$8K	$1.6M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5041	−0.038%	$34K	$251K	10x	as long as short
Aster SPXUSDT	+0.0126%	4h	0.5047	+0.082%	$128K	$111K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0140%	4h	0.5052	+0.178%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5065	+0.436%	$256K	$1.1M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1428%	1h	0.5051	+0.167%	$250K	$544K	20x	as long as short