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 −0.018%

Price spread now: KuCoin against MEXC−0.059%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$187as in the Funding arb table

Net, price: spread back to 7d avg − costs−$189as in the Price arb table

costs, in and out, $10k−$1851.852% of the position

Long on MEXC Short on KuCoin

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+0.049%+$5 · spread now −0.059%, 7d avg −0.024%

Together, before fees+0.032%+$3 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: KuCoin is 0.036% cheaper against MEXC than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SPX_USDT	0.5049	0.0100	pay 0.0050% / 4h	1h 27m	$11.9M	$4.7M	100x
Short	KuCoin SPXUSDTM	0.5046	0.0100	get 0.0050% / 4h	1h 27m	$3.7M	$5.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.059%Rate

Funding earned: $0
Price spread: −0.059% → −0.024%: −$3.57
Slippage, 4 orders: −$169.21
Fee MEXC: 2 bp × 2 orders: −$4
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$188.79
Costs to cover: 1.852%
Break-even: never at this rate

Slippage from MEXC: live order book, 6 min ago; KuCoin: live order book, 10 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, 6 min ago	3.95 bp	10.7 bp −$11	27.3 bp −$273	167.8 bp −$16.8K	doesn't fit
Sell KuCoin live order book, 10 min ago	2.97 bp	48.3 bp −$48	259.7 bp −$2,597	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	−1.386%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5053	+0.089%	$136K	$359K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5050	+0.014%	$10.1M	$7.4M	5x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5050	+0.012%	$5.1M	$21.1M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5040	−0.178%	$11.4M	$16.1M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5043	−0.119%	$943K	$2.9M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5045	−0.079%	$1.0M	$557K	50x	as long as short
MEXC SPX_USDTlong	+0.0100%	4h	0.5049	long leg	$11.9M	$4.7M	100x
KuCoin SPXUSDTMshort	+0.0100%	4h	0.5046	−0.059%	$3.7M	$5.3M	50x
Bitget SPXUSDT	+0.0100%	4h	0.5047	−0.040%	$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	0.5044	−0.099%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5059	+0.207%	$887K	$1.4M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5071	+0.436%	$25K	$253K	25x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5044	−0.099%	$8K	$1.6M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5044	−0.106%	$33K	$251K	10x	as long as short
Aster SPXUSDT	+0.0121%	4h	0.5055	+0.119%	$128K	$111K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0139%	4h	0.5060	+0.218%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5057	+0.158%	$254K	$1.1M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1427%	1h	0.5056	+0.145%	$250K	$544K	20x	as long as short