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 −0.008%

Price spread now: Bybit against MEXC−0.080%7-day average −0.138% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$540.544% of the position

Long on MEXC Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

Price spread, last 7 days−0.091%−$9 · spread now −0.080%, 7d avg −0.138%

Together, before fees−0.149%−$15 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: Bybit is 0.058% dearer against MEXC than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.138%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SPX_USDT	0.5028	0.0100	pay 0.0050% / 4h	24m 15s	$11.8M	$4.9M	100x
Short	Bybit SPXUSDT	0.5024	0.0100	get 0.0050% / 4h	24m 15s	$11.3M	$16.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against MEXC. 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 MEXCbpFee BybitbpOrdersPrice spread, now −0.080%Rate

Funding earned: $0
Price spread: −0.080% → −0.138%: $5.81
Slippage, 4 orders: −$39.44
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$48.63
Costs to cover: 0.544%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Bybit: live order book, 4 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 MEXC live order book, 4 min ago	0.99 bp	3.0 bp −$3	25.3 bp −$253	128.0 bp −$12.8K	doesn't fit
Sell Bybit live order book, 4 min ago	2.98 bp	23.9 bp −$24	66.8 bp −$668	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
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−0.975%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5037	+0.177%	$135K	$357K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5036	+0.159%	$10.2M	$7.5M	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5032	+0.080%	$5.0M	$21.4M	75x	as long as short
Bybit SPXUSDTshort	+0.0100%	4h	0.5024	−0.080%	$11.3M	$16.3M	50x
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5032	+0.080%	$935K	$2.9M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5033	+0.099%	$1.0M	$563K	50x	as long as short
MEXC SPX_USDTlong	+0.0100%	4h	0.5028	long leg	$11.8M	$4.9M	100x
KuCoin SPXUSDTM	+0.0100%	4h	0.5035	+0.139%	$3.7M	$5.2M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5033	+0.099%	$2.6M	$1.4M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SPX-USDT	+0.0100%	4h	0.5036	+0.159%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5028	−0.009%	$846K	$1.4M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5038	+0.199%	$25K	$254K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5026	−0.040%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5030	+0.043%	$33K	$245K	10x	as long as short
Aster SPXUSDT	+0.0167%	4h	0.5041	+0.250%	$134K	$122K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0169%	4h	0.5040	+0.239%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5050	+0.438%	$248K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1282%	1h	0.5035	+0.144%	$245K	$550K	20x	as long as short