Funding arb · Price arb /

SPX

all SPX markets

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: SunX against KuCoin−0.292%54s7-day average −0.127% · you buy dearer than you sell

Net, funding: paid 7d − costs−$375as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$3773.765% of the position

Long on KuCoin Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 3 days (all we have)−0.498%−$50 · spread now −0.292%, 7d avg −0.127%

Together, before fees−0.479%−$48 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: SunX is 0.165% cheaper against KuCoin than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of −0.127%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SPXUSDTM	0.5140	0.0100	pay 0.0050% / 4h	3h 30m	$3.8M	$5.2M	50x
Short	SunX SPX-USDT	0.5125	0.0100	get 0.0050% / 4h	3h 30m	$8K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.292%Rate

Funding earned: $0
Price spread: −0.292% → −0.127%: −$16.51
Slippage, 4 orders: −$356.54
Fee KuCoin: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$393.05
Costs to cover: 3.765%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; SunX: live order book, 5 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, 3 min ago	2.92 bp	104.3 bp −$104	421.3 bp −$4,213	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	32.11 bp	114.6 bp −$115	doesn't fit	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	−0.1338%	1h	0.5143	+0.057%	$239K	$559K	20x	as long as short
Variational Omni SPX	−0.0102%	4h	0.5127	−0.254%	$901K	$1.2M	—	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−3.132%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5156	+0.309%	$119K	$320K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5150	+0.191%	$10.2M	$6.9M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5138	−0.048%	$125K	$94K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5149	+0.175%	$5.2M	$19.3M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5145	+0.097%	$12.0M	$15.3M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5143	+0.058%	$1.0M	$2.6M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5135	−0.097%	$1.1M	$474K	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	0.5141	+0.019%	$12.3M	$4.3M	100x	as long as short
KuCoin SPXUSDTMlong	+0.0100%	4h	0.5140	long leg	$3.8M	$5.2M	50x
Bitget SPXUSDT	+0.0100%	4h	0.5145	+0.097%	$2.7M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5148	+0.156%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5134	−0.117%	$46K	$248K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5139	−0.019%	$20K	$200	10x	as long as short
SunX SPX-USDTshort	+0.0100%	4h	0.5125	−0.292%	$8K	$1.6M	20x
Extended SPX-USD	+0.0104%	1h	0.5149	+0.167%	$35K	$231K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5136	−0.078%	$266K	$972K	75x	as long as short