Funding arb · Price arb /

SPX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.018%

Price spread now: Binance against KuCoin+0.196%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$222as in the Funding arb table

Net, price: spread back to 7d avg − costs−$207as in the Price arb table

costs, in and out, $10k−$2242.238% of the position

Long on KuCoin Short on Binance

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−0.183%−$18 · spread now +0.196%, 7d avg +0.028%

Together, before fees−0.164%−$16 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: Binance is 0.169% dearer against KuCoin than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of +0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SPXUSDTM	0.5095	0.0100	pay 0.0050% / 4h	1h 54m	$3.7M	$5.3M	50x
Short	Binance SPXUSDT	0.5105	0.0100	get 0.0050% / 4h	1h 54m	$5.2M	$21.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against KuCoin. 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 KuCoinbpFee BinancebpOrdersPrice spread, now +0.196%Rate

Funding earned: $0
Price spread: +0.196% → +0.028%: $16.87
Slippage, 4 orders: −$201.83
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$206.96
Costs to cover: 2.238%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Binance: live order book, 2 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 KuCoin live order book, 4 min ago	1.97 bp	107.7 bp −$108	462.9 bp −$4,629	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	3.90 bp	22.6 bp −$23	56.5 bp −$565	457.3 bp −$45.7K	doesn't fit

SPX on 18 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
ApeX Omni SPXUSDT	−0.0727%	1h	0.5097	+0.039%	$46K	$244K	25x	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−2.277%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5106	+0.216%	$138K	$358K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5101	+0.108%	$10.2M	$7.4M	5x	as long as short
Binance SPXUSDTshort	+0.0100%	4h	0.5105	+0.196%	$5.2M	$21.0M	75x
Bybit SPXUSDT	+0.0100%	4h	0.5092	−0.059%	$11.6M	$16.0M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5094	−0.020%	$952K	$2.9M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5089	−0.118%	$1.0M	$551K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5102	+0.137%	$11.6M	$4.7M	100x	as long as short
KuCoin SPXUSDTMlong	+0.0100%	4h	0.5095	long leg	$3.7M	$5.3M	50x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPXUSDT	+0.0100%	4h	0.5101	+0.118%	$2.7M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5097	+0.039%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5135	+0.788%	$882K	$1.4M	—	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5093	−0.039%	$8K	$1.6M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5096	+0.025%	$34K	$251K	10x	as long as short
Aster SPXUSDT	+0.0147%	4h	0.5108	+0.264%	$130K	$111K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0148%	4h	0.5109	+0.275%	$20K	$599	10x	as long as short
Kraken Futures PF_SPXUSD	+0.1412%	1h	0.5107	+0.243%	$253K	$541K	20x	as long as short