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 OKX+0.099%7-day average +0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs−$239as in the Funding arb table

Net, price: spread back to 7d avg − costs−$234as in the Price arb table

costs, in and out, $10k−$2382.377% of the position

Long on OKX 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−0.037%−$4 · spread now +0.099%, 7d avg +0.066%

Together, before fees−0.056%−$6 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 0.033% dearer against OKX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.066%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SPX-USDT-SWAP	0.5062	0.0100	pay 0.0050% / 4h	3h 52m	$960K	$2.8M	20x
Short	KuCoin SPXUSDTM	0.5067	0.0100	get 0.0050% / 4h	3h 52m	$3.7M	$5.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.099%Rate

Funding earned: $0
Price spread: +0.099% → +0.066%: $3.25
Slippage, 4 orders: −$215.67
Fee OKX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$234.42
Costs to cover: 2.377%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; KuCoin: 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, 5 min ago	2.94 bp	45.0 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	4.91 bp	73.5 bp −$73	303.4 bp −$3,034	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	−0.0018%	4h	0.5057	−0.099%	$1.0M	$506K	50x	as long as short
Variational Omni SPX	+0.0029%	4h	0.5098	+0.707%	$843K	$1.3M	—	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−1.640%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5071	+0.170%	$130K	$309K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5067	+0.095%	$9.9M	$7.8M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5066	+0.088%	$128K	$110K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5065	+0.069%	$5.0M	$21.2M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5064	+0.040%	$11.5M	$16.1M	50x	as long as short
OKX SPX-USDT-SWAPlong	+0.0100%	4h	0.5062	long leg	$960K	$2.8M	20x
MEXC SPX_USDT	+0.0100%	4h	0.5062	0.000%	$11.2M	$4.7M	100x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SPXUSDTMshort	+0.0100%	4h	0.5067	+0.099%	$3.7M	$5.3M	50x
Bitget SPXUSDT	+0.0100%	4h	0.5065	+0.059%	$2.6M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5063	+0.020%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5093	+0.612%	$46K	$246K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5068	+0.119%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5064	+0.040%	$8K	$1.7M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5056	−0.110%	$36K	$234K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5076	+0.277%	$248K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.0967%	1h	0.5066	+0.074%	$246K	$556K	20x	as long as short