Funding arb · Price arb /

SPX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%

Price spread now: Gate against KuCoin−0.078%7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$457as in the Funding arb table

Net, price: spread back to 7d avg − costs−$460as in the Price arb table

costs, in and out, $10k−$4574.566% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 7 days−0.067%−$7 · spread now −0.078%, 7d avg −0.045%

Together, before fees−0.067%−$7 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: Gate is 0.032% cheaper against KuCoin than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SPXUSDTM	0.5144	0.0100	pay 0.0050% / 4h	1h 54m	$3.7M	$5.5M	50x
Short	Gate SPX_USDT	0.5140	0.0100	get 0.0050% / 4h	1h 54m	$1.0M	$680K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.078%Rate

Funding earned: $0
Price spread: −0.078% → −0.045%: −$3.25
Slippage, 4 orders: −$429.64
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$459.89
Costs to cover: 4.566%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Gate: 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, 2 min ago	4.86 bp	154.5 bp −$155	491.3 bp −$4,913	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	5.83 bp	91.8 bp −$92	doesn't fit	doesn't fit	doesn't fit

SPX on 19 exchanges

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	−3.208%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5146	+0.043%	$146K	$354K	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5155	+0.206%	$139K	$90K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5144	−0.005%	$5.4M	$23.8M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5138	−0.117%	$12.1M	$17.7M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5131	−0.253%	$1.0M	$3.5M	20x	as long as short
Gate SPX_USDTshort	+0.0100%	4h	0.5140	−0.078%	$1.0M	$680K	50x
MEXC SPX_USDT	+0.0100%	4h	0.5147	+0.058%	$11.1M	$4.9M	100x	as long as short
KuCoin SPXUSDTMlong	+0.0100%	4h	0.5144	long leg	$3.7M	$5.5M	50x
Bitget SPXUSDT	+0.0100%	4h	0.5148	+0.078%	$2.7M	$1.4M	50x	as long as short

Show all 19 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SPX-USDT	+0.0100%	4h	0.5140	−0.078%	—	$7.0M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5161	+0.324%	$979K	$1.6M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5211	+1.302%	$27K	$249K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5133	−0.214%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5139	−0.101%	$44K	$318K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0134%	4h	0.5151	+0.136%	$20K	$511	10x	as long as short
Hyperliquid SPX	+0.0194%	1h	0.5155	+0.210%	$10.8M	$8.9M	5x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5150	+0.117%	$261K	$969K	75x	as long as short
Kraken Futures PF_SPXUSD	+0.2469%	1h	0.5154	+0.201%	$277K	$548K	20x	as long as short