SP500 funding rates and arbitrage
Updated 2026-11-11 23:02 UTC
Best SP500 arbitrage after every cost
| Coin | Pair | Long | Short | Net · 168 h | Net APR | Max size | Status |
|---|---|---|---|---|---|---|---|
| SP500 | Perp ↔ perp | BingX NCSISP5002USD-USDT | HTX SPX500-USDT | +$24.18 † | +12.6% | — | Watch |
At $10,000 per side, held 7 days, after taker fees, order-book slippage and carry. † slippage estimated from the top of the book (no live order book for this pair); ‡ before slippage (no order book at all).
SP500 funding rate on every exchange
| Exchange | Contract | Rate | Every | Annualised | Settled 7d, annualised | Open interest | Next settlement |
|---|---|---|---|---|---|---|---|
| Bulk | US500-USD | 0.0013% | 1 h | +10.9% | — | $53.8K | 2026-11-12 00:00 |
| Ondo Perps | US500-USD.P | 0.0006% | 1 h | +5.5% | — | $7.5M | 2026-11-12 00:00 |
| PopDEX | US500USDT | 0.0006% | 1 h | +5.5% | +5.5% | $545.6K | 2026-11-12 00:00 |
| HTX | SPX500-USDT | 0.0006% | 1 h | +5.5% | +3.6% | $454.1K | 2026-11-12 00:00 |
| Hyperliquid | xyz:SP500 | 0.0001% | 1 h | +1.2% | +4.2% | $437.7M | 2026-11-12 00:00 |
| Bullet | US500-USD | 0.0000% | 1 h | 0.0% | — | $21.5K | 2026-11-12 00:00 |
| QFEX | US500-USD | 0.0000% | 1 h | 0.0% | — | $6M | 2026-11-12 00:00 |
| Bitget | SP500USDT | 0.0000% | 8 h | 0.0% | +13.9% | $5.8M | 2026-11-12 00:00 |
| OKX | US500-USDT-SWAP | 0.0000% | 8 h | 0.0% | +9.3% | $341.1K | 2026-11-12 00:00 |
| Gate | SPX500_USDT | 0.0000% | 8 h | 0.0% | 0.0% | $679.8K | 2026-11-12 00:00 |
| Variational | US500-PERP | 0.0000% | 8 h | 0.0% | 0.0% | $13.5M | 2026-11-12 00:00 |
| Lighter | US500 | -0.0003% | 1 h | −2.6% | +3.3% | $1.8M | 2026-11-12 00:00 |
| MEXC | SPX500_USDT | -0.0072% | 8 h | −7.9% | +2.7% | $43.5M | 2026-11-12 00:00 |
| BingX | NCSISP5002USD-USDT | -0.0107% | 8 h | −11.7% | +9.8% | $975.4K | 2026-11-12 00:00 |
| LBank | SPX500USDT | -0.0128% | 8 h | −14.0% | −12.8% | — | 2026-11-12 00:00 |
| Paradex | US500-USD-PERP | -0.0296% | 8 h | −32.4% | — | $28.5K | 2026-11-12 00:00 |
| Pacifica | SP500 | -0.0060% | 1 h | −52.9% | +5.1% | $470.4K | 2026-11-12 00:00 |
Cost to enter $10,000 of SP500
| Exchange | Contract | Fee + slippage | Source |
|---|---|---|---|
| Lighter | US500 | 0.1 bp | order-book snapshot, 57 min old |
| Hyperliquid | xyz:SP500 | 1.0 bp | order-book snapshot, 16 min old |
| BingX | NCSISP5002USD-USDT | 5.1 bp | order-book snapshot, 19 min old |
| Pacifica | SP500 | 8.8 bp | order-book snapshot, 55 min old |
| MEXC | SPX500_USDT | 14.9 bp | order-book snapshot, 22 min old |
| OKX | US500-USDT-SWAP | 6.2 bp | top of book only |
| Bitget | SP500USDT | 7.7 bp | top of book only |
| HTX | SPX500-USDT | 9.5 bp * | top of book only |
| Gate | SPX500_USDT | 10.1 bp | top of book only |
| Paradex | US500-USD-PERP | book can't fill $10,000 | order-book snapshot, 11 min old |
Taker fee plus slippage of a market buy of $10,000 from the mid price, at standard (VIP0) fees. * fee estimated: the exchange publishes no fee schedule without an account.
Questions
Is SP500 funding-rate arbitrage profitable right now?
Not right now. At $10,000 per side for 7 days the best SP500 pair (BingX / HTX) would net +$24.18 after taker fees, order-book slippage and carry, but it is on watch rather than actionable; the live page shows what holds it back.
Which exchange has the highest SP500 funding rate?
Bulk at +10.9% a year (0.0013% every 1 h); the lowest is Pacifica at −52.9%. A positive rate is paid by longs to shorts, a negative one by shorts to longs.
The method behind every number on AfterFees is published; Pro opens each figure into its line-by-line calculation. Estimates from current data, not investment advice. We never hold funds or trade for you.