Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.001%

Price spread now: MEXC against Lighter−0.119%7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$730.725% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 4 days (all we have)+0.146%+$15 · spread now −0.119%, 7d avg −0.047%

Together, before fees+0.132%+ Points / potential airdropLighter: Season 3 · farm board+$13 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: MEXC is 0.071% cheaper against Lighter than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SPX	0.5142	0.0096	pay 0.0012% / 1h	21m 31s	$150K	$370K	5x
Short	MEXC SPX_USDT	0.5136	0.0100	get 0.0050% / 4h	3h 21m	$11.7M	$5.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Lighter. 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 LighterbpFee MEXCbpOrdersPrice spread, now −0.119%Rate

Funding earned: $0.84
Price spread: −0.119% → −0.047%: −$7.13
Slippage, 4 orders: −$68.54
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$78.83
Costs to cover: 0.725%
Break-even: 663.9 days

Slippage from Lighter: live order book, 23 min ago; MEXC: 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 Lighter live order book, 23 min ago	27.83 bp	27.8 bp −$28	67.8 bp −$678	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	1.95 bp	7.2 bp −$7	32.8 bp −$328	155.1 bp −$15.5K	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
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−3.172%	$9	$4K	5.5x	as long as short
Lighter SPXlong	+0.0096%	1h	0.5142	long leg	$150K	$370K	5x
Binance SPXUSDT	+0.0100%	4h	0.5141	−0.012%	$5.2M	$22.2M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5140	−0.041%	$11.7M	$16.9M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5140	−0.041%	$931K	$3.1M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5132	−0.196%	$1.0M	$589K	50x	as long as short
MEXC SPX_USDTshort	+0.0100%	4h	0.5136	−0.119%	$11.7M	$5.1M	100x
KuCoin SPXUSDTM	+0.0100%	4h	0.5136	−0.119%	$3.7M	$5.3M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5138	−0.080%	$2.7M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5143	+0.018%	—	$6.9M	—	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SPX	+0.0100%	4h	0.5127	−0.302%	$954K	$1.5M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5130	−0.235%	$26K	$255K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5104	−0.741%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5144	+0.029%	$33K	$252K	10x	as long as short
Aster SPXUSDT	+0.0160%	4h	0.5127	−0.290%	$137K	$129K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0211%	4h	0.5114	−0.546%	$20K	$599	10x	as long as short
Hyperliquid SPX	+0.0240%	1h	0.5152	+0.194%	$10.5M	$7.8M	5x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5127	−0.294%	$254K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1230%	1h	0.5117	−0.495%	$250K	$549K	20x	as long as short