SPX Funding Rate — perpetuals across 13 venues
TradFi perpetual · compared across 13 venues · net of estimated fees · updated every few minutesSPX is a perpetual linked to the SPX index/ETF. Perpia compares its annualized funding across venues and the best delta-neutral spread.
Live annualized SPX perpetual funding across all 13 venues Perpia tracks. Right now SPX funding is positive on 13 and negative on 0, ranging from +11.4% on Extended to +1.1% on Gate.io — a spread of 10.3%. The widest delta-neutral trade is long Gate.io / short MEXC at 7.4% net APR.
SPX funding trend & liquidity
168h of historyAverages are historical funding over the window shown. A current rate near the 7-day average may indicate the spread has persisted; a rate far above it is usually a short-lived spike. OI and volume are the smaller (binding) leg of the best pair — the ceiling on tradeable size.
Loading SPX rate history…
Build a route
any two of the 13 venuesThis is the widest route right now. The number is gross: fees, the entry spread and slippage are not in it, and both legs must be tradeable for you. The scanner carries the same pairs net of costs.
Venues: pick the two legs
sorted by rate · 13 venues| Venue | Funding APR ↓ | Interval | Use as |
|---|---|---|---|
| Extended↗ | +11.4% | every 1h | |
| MEXC↗short | +10.9% | every 4h | |
| Binance↗ | +10.9% | every 4h | |
| OKX↗ | +10.9% | every 4h | |
| BingX↗ | +10.9% | every 4h | |
| Bybit↗ | +10.9% | every 4h | |
| KuCoin↗ | +10.9% | every 4h | |
| Variational↗ | +10.9% | every 4h | |
| Hyperliquid↗ | +10.9% | every 1h | |
| Bitget↗ | +10.9% | every 4h | |
| Aster↗ | +10.9% | every 4h | |
| Lighter↗ | +10.5% | every 8h | |
| Gate.io↗long | +1.1% | every 4h |
Rates annualized; updated ~every few minutes from live venue data. Venue names link to that exchange's full funding table; ↗ opens the market on the exchange itself. Every spread between these two venues is on the Gate.io vs MEXC page. 12 pairs scanned for SPX.
SPX arbitrage — 30-day backtest
long Gate.io · short MEXCOver the last 30 days, holding long Gate.io / short MEXC would have produced 6.8% APR — versus the 7.4% the live spread implies right now (equity $10,000 → $10,056). This is a backtest on historical funding, not a live result: funding drifts and decays, so backtested results rarely match the current headline rate — which is why size and holding window matter more than the top-line number.
Open full interactive backtest →SPX — FAQ
Is SPX funding positive right now?
SPX perpetual funding is positive on 13 of 13 venues Perpia tracks. The highest is +11.4% on Extended; the lowest is +1.1% on Gate.io.
What is the best SPX funding arbitrage right now?
Go long Gate.io and short MEXC for about 7.4% net APR after fees — the widest delta-neutral SPX spread Perpia currently sees.
Which exchange has the highest SPX funding rate?
Extended, at +11.4% annualized. Funding shifts continuously, so check the live table above before trading.
How SPX funding arbitrage works
Funding arbitrage combines opposing positions on two venues — long the one paying the most negative funding, short the one paying the most positive — to reduce directional exposure and capture the difference between their funding payments. Fees, slippage, basis divergence and liquidation risk can reduce the result. See the methodology for how it is measured and the guide for the full walkthrough.
Markets related to SPX
also quoted on both Gate.io and MEXCThe same two exchanges you would already have funded for the SPX trade. Every spread between them is on the Gate.io vs MEXC page.