Funding arb · Price arb /

SPX

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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: MEXC against SunX+0.155%7-day average +0.179% · you sell dearer than you buy

Net, funding: paid 7d − costs−$245as in the Funding arb table

Net, price: spread back to 7d avg − costs−$247as in the Price arb table

costs, in and out, $10k−$2452.446% of the position

Long on SunX Short on MEXC

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)+0.110%+$11 · spread now +0.155%, 7d avg +0.179%

Together, before fees+0.110%+$11 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: MEXC is 0.024% cheaper against SunX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.179%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX SPX-USDT	0.5146	0.0100	pay 0.0050% / 4h	1h 02m	$8K	$1.8M	20x
Short	MEXC SPX_USDT	0.5154	0.0100	get 0.0050% / 4h	1h 02m	$11.9M	$5.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.155%Rate

Funding earned: $0
Price spread: +0.155% → +0.179%: −$2.4
Slippage, 4 orders: −$232.64
Fee SunX: 4 bp × 2 orders: −$8
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$247.04
Costs to cover: 2.446%
Break-even: never at this rate

Slippage from SunX: live order book, 13 min ago; MEXC: live order book, 5 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, 13 min ago	31.95 bp	109.1 bp −$109	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	2.90 bp	10.5 bp −$11	20.8 bp −$208	139.2 bp −$13.9K	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	−3.245%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5160	+0.264%	$140K	$405K	5x	as long as short
Hyperliquid SPX	+0.0100%	1h	0.5152	+0.113%	$10.4M	$8.3M	5x	as long as short
Aster SPXUSDT	+0.0100%	4h	0.5159	+0.256%	$138K	$93K	10x	as long as short
Binance SPXUSDT	+0.0100%	4h	0.5153	+0.133%	$5.2M	$23.7M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5142	−0.078%	$11.8M	$17.7M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5140	−0.117%	$971K	$3.4M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5156	+0.194%	$1.0M	$653K	50x	as long as short
MEXC SPX_USDTshort	+0.0100%	4h	0.5154	+0.155%	$11.9M	$5.3M	100x
KuCoin SPXUSDTM	+0.0100%	4h	0.5152	+0.117%	$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	0.5150	+0.078%	$2.6M	$1.5M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5152	+0.117%	—	$6.9M	—	as long as short
Variational Omni SPX	+0.0100%	4h	0.5176	+0.575%	$1.0M	$1.6M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5173	+0.525%	$26K	$254K	25x	as long as short
SunX SPX-USDTlong	+0.0100%	4h	0.5146	long leg	$8K	$1.8M	20x
Extended SPX-USD	+0.0104%	1h	0.5143	−0.067%	$33K	$243K	10x	as long as short
Orderly PERP_SPX_USDC	+0.0175%	4h	0.5161	+0.291%	$20K	$599	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5153	+0.136%	$257K	$1.0M	75x	as long as short
Kraken Futures PF_SPXUSD	+0.1604%	1h	0.5165	+0.368%	$257K	$555K	20x	as long as short