Funding arb · Price arb /

SPX

all SPX markets

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 0.000%

Price spread now: Bitget against OKX+0.215%7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$1151.149% of the position

Long on OKX Short on Bitget

What this pair did over the last

the charts below follow

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

Price spread, last 7 days−0.208%−$21 · spread now +0.215%, 7d avg +0.060%

Together, before fees−0.208%−$21 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: Bitget is 0.155% dearer against OKX than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of +0.060%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SPX-USDT-SWAP	0.5119	0.0100	pay 0.0050% / 4h	3h 51m	$978K	$3.4M	20x
Short	Bitget SPXUSDT	0.5130	0.0100	get 0.0050% / 4h	3h 51m	$2.6M	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against OKX. 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 OKXbpFee BitgetbpOrdersPrice spread, now +0.215%Rate

Funding earned: $0
Price spread: +0.215% → +0.060%: $15.47
Slippage, 4 orders: −$92.87
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$99.4
Costs to cover: 1.149%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; Bitget: live order book, 6 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 OKX live order book, 1 min ago	2.93 bp	30.6 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 6 min ago	11.69 bp	27.4 bp −$27	104.4 bp −$1,044	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
Gate SPX_USDT	+0.0028%	4h	0.5107	−0.234%	$1.0M	$642K	50x	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−2.735%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5117	−0.049%	$141K	$405K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5115	−0.070%	$10.3M	$8.4M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5115	−0.086%	$137K	$93K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5115	−0.082%	$5.1M	$23.8M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5114	−0.098%	$11.8M	$17.8M	50x	as long as short
OKX SPX-USDT-SWAPlong	+0.0100%	4h	0.5119	long leg	$978K	$3.4M	20x
MEXC SPX_USDT	+0.0100%	4h	0.5118	−0.020%	$11.6M	$5.0M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5116	−0.059%	$3.7M	$5.5M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPXUSDTshort	+0.0100%	4h	0.5130	+0.215%	$2.6M	$1.5M	50x
BingX SPX-USDT	+0.0100%	4h	0.5118	−0.020%	—	$7.0M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5103	−0.309%	$952K	$1.6M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5103	−0.313%	$26K	$249K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5119	0.000%	$20K	$599	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5109	−0.195%	$8K	$1.8M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5123	+0.082%	$33K	$299K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5115	−0.078%	$251K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1472%	1h	0.5128	+0.176%	$259K	$553K	20x	as long as short