Funding arb · Price arb /

SPX

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bitget against KuCoin+0.121%7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$238as in the Funding arb table

Net, price: spread back to 7d avg − costs−$228as in the Price arb table

costs, in and out, $10k−$2392.395% of the position

Long on KuCoin Short on Bitget

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+0.059%+$6 · spread now +0.121%, 7d avg +0.002%

Together, before fees+0.077%+$8 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: Bitget is 0.118% dearer against KuCoin than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SPXUSDTM	0.4978	0.0100	pay 0.0050% / 4h	1h 16m	$3.7M	$5.2M	50x
Short	Bitget SPXUSDT	0.4984	0.0100	get 0.0050% / 4h	1h 16m	$2.6M	$1.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.121%Rate

Funding earned: $0
Price spread: +0.121% → +0.002%: $11.85
Slippage, 4 orders: −$215.49
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$227.65
Costs to cover: 2.395%
Break-even: never at this rate

Slippage from KuCoin: live order book, 1 min ago; Bitget: live order book, 1 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, 1 min ago	5.04 bp	114.3 bp −$114	452.9 bp −$4,529	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	13.09 bp	37.1 bp −$37	120.8 bp −$1,208	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	−0.1259%	1h	0.4978	+0.005%	$232K	$554K	20x	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	+0.020%	$9	$4K	5.5x	as long as short
Variational Omni SPX	+0.0053%	4h	0.5034	+1.122%	$848K	$1.3M	—	as long as short
Lighter SPX	+0.0096%	1h	0.4966	−0.231%	$114K	$319K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.4979	+0.022%	$9.6M	$7.5M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.4968	−0.198%	$125K	$107K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.4977	−0.011%	$4.9M	$20.5M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.4976	−0.040%	$11.6M	$15.8M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.4980	+0.040%	$982K	$2.7M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.4970	−0.161%	$1.0M	$488K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SPX_USDT	+0.0100%	4h	0.4979	+0.020%	$11.2M	$4.6M	100x	as long as short
KuCoin SPXUSDTMlong	+0.0100%	4h	0.4978	long leg	$3.7M	$5.2M	50x
Bitget SPXUSDTshort	+0.0100%	4h	0.4984	+0.121%	$2.6M	$1.4M	50x
BingX SPX-USDT	+0.0100%	4h	0.4979	+0.020%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5027	+0.984%	$45K	$248K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.4982	+0.080%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.4971	−0.141%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.4979	+0.010%	$34K	$228K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.4959	−0.382%	$254K	$937K	75x	as long as short