Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.020%

Price spread now: SunX against Injective+1.627%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and SunX is 1.627% dearer against Injective than usual: you sell high and buy low: +$163 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective SPX/USDC PERP	0.4979	0.0033	pay 0.0004% / 1h	55m 16s	$9	$4K	5.5x
Short	SunX SPX-USDT	0.5060	0.0100	get 0.0050% / 4h	3h 55m	$8K	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Injective. 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 InjectivebpFee SunXbpOrdersPrice spread, now +1.627%Rate

Funding earned: $14
Price spread: +1.627% → 0.000%: $162.68
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee SunX: 4 bp × 2 orders: −$8
Net: $168.66
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; SunX: live order book, 10 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell SunX live order book, 10 min ago	500.10 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Gate SPX_USDT	−0.0532%	4h	0.5068	+1.788%	$1.0M	$504K	50x	as long as short
Bybit SPXUSDT	−0.0336%	4h	0.5066	+1.747%	$11.6M	$16.1M	50x	as long as short
Variational Omni SPX	+0.0029%	4h	0.5098	+2.386%	$843K	$1.3M	—	as long as short
Injective SPX/USDC PERPlong	+0.0033%	1h	0.4979	long leg	$9	$4K	5.5x
Lighter SPX	+0.0096%	1h	0.5078	+1.978%	$130K	$308K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5076	+1.946%	$10.0M	$7.8M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5089	+2.213%	$129K	$110K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5073	+1.888%	$5.0M	$21.2M	75x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5067	+1.767%	$961K	$2.8M	20x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5073	+1.888%	$11.2M	$4.7M	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	0.5071	+1.848%	$3.7M	$5.3M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5073	+1.888%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5072	+1.868%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5093	+2.290%	$46K	$246K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5081	+2.049%	$20K	$711	10x	as long as short
SunX SPX-USDTshort	+0.0100%	4h	0.5060	+1.627%	$8K	$1.7M	20x
Extended SPX-USD	+0.0104%	1h	0.5067	+1.758%	$35K	$225K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5069	+1.808%	$247K	$999K	75x	as long as short
Kraken Futures PF_SPXUSD	+0.0965%	1h	0.5076	+1.953%	$246K	$557K	20x	as long as short