Funding arb · Price arb /

SPX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against SunX−0.047%7-day average +0.085% · you buy dearer than you sell

Net, funding: paid 7d − costs−$274as in the Funding arb table

Net, price: spread back to 7d avg − costs−$288as in the Price arb table

costs, in and out, $10k−$2742.744% of the position

Long on SunX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 4 days (all we have)+0.251%+$25 · spread now −0.047%, 7d avg +0.085%

Together, before fees+0.260%+ Points / potential airdropExtended: Active · farm board+$26 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: Extended is 0.131% cheaper against SunX than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX SPX-USDT	0.5114	0.0100	pay 0.0050% / 4h	39m 18s	$8K	$1.8M	20x
Short	Extended SPX-USD	0.5112	0.0104	get 0.0013% / 1h	39m 18s	$34K	$256K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against SunX. 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 SunXbpFee ExtendedbpOrdersPrice spread, now −0.047%Rate

Funding earned: $0.84
Price spread: −0.047% → +0.085%: −$13.13
Slippage, 4 orders: −$261.42
Fee SunX: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$286.71
Costs to cover: 2.744%
Break-even: 2396.3 days

Slippage from SunX: live order book, 6 min ago; Extended: live order book, 63 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 SunX live order book, 6 min ago	32.95 bp	105.6 bp −$106	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 63 min ago	3.68 bp	29.7 bp −$30	208.3 bp −$2,083	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	−2.640%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5124	+0.199%	$140K	$405K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5118	+0.084%	$10.4M	$8.3M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5122	+0.148%	$137K	$93K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5120	+0.121%	$5.2M	$23.8M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5117	+0.059%	$11.8M	$17.8M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5115	+0.020%	$971K	$3.4M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5115	+0.020%	$1.0M	$656K	50x	as long as short
MEXC SPX_USDT	+0.0100%	4h	0.5120	+0.117%	$11.7M	$5.1M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5109	−0.098%	$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 SPXUSDT	+0.0100%	4h	0.5121	+0.137%	$2.6M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5121	+0.137%	—	$7.0M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5144	+0.596%	$997K	$1.6M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5156	+0.821%	$26K	$248K	25x	as long as short
SunX SPX-USDTlong	+0.0100%	4h	0.5114	long leg	$8K	$1.8M	20x
Extended SPX-USDshort	+0.0104%	1h	0.5112	−0.047%	$34K	$256K	10x
Orderly PERP_SPX_USDC	+0.0158%	4h	0.5127	+0.254%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5125	+0.215%	$253K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1263%	1h	0.5133	+0.374%	$255K	$553K	20x	as long as short