Funding arb · Price arb /

SPX

all SPX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against OKX−0.136%7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$286as in the Funding arb table

Net, price: spread back to 7d avg − costs−$295as in the Price arb table

costs, in and out, $10k−$2862.856% of the position

Long on OKX Short on SunX

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.006%−$1 · spread now −0.136%, 7d avg −0.046%

Together, before fees−0.006%−$1 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: SunX is 0.091% cheaper against OKX than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SPX-USDT-SWAP	0.5140	0.0100	pay 0.0050% / 4h	1h 01m	$970K	$3.4M	20x
Short	SunX SPX-USDT	0.5133	0.0100	get 0.0050% / 4h	1h 01m	$8K	$1.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.136%Rate

Funding earned: $0
Price spread: −0.136% → −0.046%: −$9.06
Slippage, 4 orders: −$267.57
Fee OKX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$294.63
Costs to cover: 2.856%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; SunX: 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 OKX live order book, 1 min ago	2.92 bp	41.4 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	32.91 bp	115.4 bp −$115	doesn't fit	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	−3.132%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5153	+0.251%	$140K	$405K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5151	+0.212%	$10.4M	$8.3M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5148	+0.157%	$137K	$93K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5148	+0.156%	$5.2M	$23.7M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5143	+0.058%	$11.8M	$17.7M	50x	as long as short
OKX SPX-USDT-SWAPlong	+0.0100%	4h	0.5140	long leg	$970K	$3.4M	20x
Gate SPX_USDT	+0.0100%	4h	0.5145	+0.097%	$1.0M	$653K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5151	+0.214%	$11.9M	$5.4M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5148	+0.156%	$3.7M	$5.4M	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SPXUSDT	+0.0100%	4h	0.5152	+0.233%	$2.6M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5145	+0.097%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5176	+0.692%	$1.0M	$1.6M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5173	+0.642%	$26K	$254K	25x	as long as short
SunX SPX-USDTshort	+0.0100%	4h	0.5133	−0.136%	$8K	$1.8M	20x
Extended SPX-USD	+0.0104%	1h	0.5145	+0.089%	$33K	$243K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0175%	4h	0.5154	+0.272%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5153	+0.253%	$257K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1605%	1h	0.5160	+0.388%	$256K	$555K	20x	as long as short