Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0154%/8h= −16.8% APRpaid last 24h +0.021%

Price spread now: Phoenix against Aster−0.069%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$220.217% of the position

Long on Aster Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 4 days (all we have)+0.231%+$23 · spread now −0.069%, 7d avg −0.005%

Together, before fees+0.248%+ Points / potential airdropAster: Stage 5 · farm board+$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Phoenix is 0.063% cheaper against Aster than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.005%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SPCXUSD1	153.11	0.0415	pay 0.0415% / 8h	3h 59m	$19.0M	$21.5M	20x
Short	Phoenix SPCX	153.01	0.0261	get 0.0033% / 1h	59m 20s	$445K	$264K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Aster. 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 AsterbpFee PhoenixbpOrdersPrice spread, now −0.069%Rate

Funding earned: −$32.25
Price spread: −0.069% → −0.005%: −$6.35
Slippage, 4 orders: −$6.66
Fee Aster: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$60.25
Costs to cover: 0.217%
Break-even: never at this rate

Slippage from Aster: live order book, 5 min ago; Phoenix: live order book, 58 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 Aster live order book, 5 min ago	0.33 bp	4.6 bp −$5	6.5 bp −$65	doesn't fit	doesn't fit
Sell Phoenix live order book, 58 min ago	0.33 bp	5.5 bp −$6	16.8 bp −$168	doesn't fit	doesn't fit

SPCX on 39 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
GMX SPCX/USD [ETH-USDC]	L −0.0214% / S +0.0456%	1h	153.00	−0.078%	$91K	—	20x	as long as short
Bybit SPCXUSDT	0.0000%	8h	153.05	−0.042%	$30.7M	$42.9M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.01	−0.069%	$96.3M	$31.1M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	153.07	−0.029%	$31.7M	$65.3M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.680%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.91	−0.134%	$302K	$2.9M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.26	+0.095%	$7K	$938K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.09	−0.016%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0027%	1h	153.04	−0.051%	$8K	$8K	10x	as long as short
BloFin SPCX-USDT	+0.0028%	8h	153.03	−0.055%	$1.9M	$1.4M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SPCX	+0.0032%	1h	152.96	−0.101%	$1.6M	$7.3M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.92	−0.127%	$2.5M	$7.3M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.95	−0.108%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.97	−0.095%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.98	−0.088%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.00	−0.075%	$1.7M	$95K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	153.02	−0.062%	$532K	$391K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.84	−0.180%	$3.2M	$2.5M	10x	as long as short
QFEX SPCX-USD	+0.0050%	1h	153.00	−0.075%	$1.2M	$5.9M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0080%	8h	153.02	−0.061%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.93	−0.121%	$169K	$129K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.96	−0.101%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.04	−0.049%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.04	−0.049%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.01	−0.068%	$89	—	10x	as long as short
Variational Omni SPCX	+0.0132%	8h	153.00	−0.076%	$6.0M	$2.9M	—	as long as short
Extended SPCX-USD	+0.0144%	1h	152.98	−0.086%	$734K	$3.8M	10x	as long as short
Binance SPCXUSDT	+0.0148%	8h	153.03	−0.058%	$248.0M	$1.36B	75x	as long as short
OKX SPCX-USDT-SWAP	+0.0152%	8h	153.08	−0.023%	$39.5M	$166.6M	75x	as long as short
RISEx SPCX/USDC	+0.0217%	1h	153.03	−0.054%	$409K	$525K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0248%	1h	153.10	−0.010%	$738K	$926K	10x	as long as short
Bullet SPCX-USD	+0.0261%	1h	153.03	−0.055%	$12K	$192K	10x	as long as short
Phoenix SPCXshort	+0.0261%	1h	153.01	−0.069%	$445K	$264K	15x
Nado SPCX-PERP	+0.0283%	1h	152.87	−0.159%	$616K	$815K	20x	as long as short
tradeXYZ xyz:SPCX	+0.0295%	1h	152.98	−0.088%	$141.4M	$119.2M	20x	as long as short
Aster SPCXUSD1long	+0.0415%	8h	153.11	long leg	$19.0M	$21.5M	20x
Injective SPCX/USDC PERP	+0.0440%	1h	153.32	+0.134%	$9K	$28K	5.5x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0470%	1h	152.98	−0.088%	$84K	$1.2M	10x	as long as short
edgeX SPCXUSDC	+0.0914%	4h	153.00	−0.072%	$1.7M	$893K	20x	as long as short