Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0074%/8h= +8.1% APRpaid last 24h +0.029%

Price spread now: Phoenix against Binance0.000%55s7-day average −0.009% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$230.232% of the position

Long on Binance Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.036%+$4 on $10k

Price spread, last 4 days (all we have)−0.108%−$11 · spread now 0.000%, 7d avg −0.009%

Together, before fees−0.073%−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.009%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SPCXUSDT	153.02	0.0188	pay 0.0188% / 8h	5h 36m	$252.7M	$1.37B	75x
Short	Phoenix SPCX	153.02	0.0262	get 0.0033% / 1h	36m 35s	$445K	$267K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Binance. 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 BinancebpFee PhoenixbpOrdersPrice spread, now 0.000%Rate

Funding earned: $15.5
Price spread: 0.000% → −0.009%: $0.92
Slippage, 4 orders: −$6.23
Fee Binance: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$6.8
Costs to cover: 0.232%
Break-even: 10.1 days

Slippage from Binance: live order book, 7 min ago; Phoenix: live order book, 26 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 Binance live order book, 7 min ago	0.33 bp	5.3 bp −$5	5.9 bp −$59	10.0 bp −$1,003	17.4 bp −$8,700
Sell Phoenix live order book, 26 min ago	0.33 bp	4.8 bp −$5	14.9 bp −$149	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 −0.0333% / S +0.0531%	1h	153.00	−0.016%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.00	−0.013%	$96.1M	$31.3M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.747%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.95	−0.046%	$302K	$3.0M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.22	+0.131%	$8K	$940K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.05	+0.020%	$1.3M	$1.7M	75x	as long as short
Bitget SPCXUSDT	+0.0004%	8h	153.06	+0.026%	$31.7M	$66.1M	75x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0012%	1h	152.97	−0.033%	$72K	$1.2M	10x	as long as short
Aftermath Perps SPCXUSD	+0.0025%	1h	152.96	−0.040%	$7K	$8K	10x	as long as short
Bybit SPCXUSDT	+0.0031%	8h	153.02	0.000%	$30.8M	$42.8M	100x	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	152.98	−0.026%	$1.6M	$7.2M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.96	−0.039%	$2.5M	$7.2M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.94	−0.052%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.01	−0.006%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0048%	1h	152.98	−0.026%	$1.2M	$6.6M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.97	−0.033%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.99	−0.019%	$1.7M	$93K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.99	−0.019%	$534K	$402K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.85	−0.111%	$3.2M	$2.5M	10x	as long as short
BloFin SPCX-USDT	+0.0068%	8h	153.03	+0.007%	$1.9M	$1.4M	75x	as long as short
Paradex SPCX-USD-PERP	+0.0072%	8h	153.03	+0.007%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.91	−0.072%	$169K	$129K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.93	−0.059%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.93	−0.059%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.04	+0.013%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.00	−0.013%	$89	—	10x	as long as short
Bullet SPCX-USD	+0.0132%	1h	153.02	0.000%	$11K	$190K	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0179%	8h	153.04	+0.013%	$39.5M	$167.7M	75x	as long as short
Variational Omni SPCX	+0.0179%	8h	153.01	−0.010%	$6.0M	$3.1M	—	as long as short
tradeXYZ xyz:SPCX	+0.0180%	1h	152.98	−0.026%	$142.1M	$119.4M	20x	as long as short
Binance SPCXUSDTlong	+0.0188%	8h	153.02	long leg	$252.7M	$1.37B	75x
Extended SPCX-USD	+0.0192%	1h	152.99	−0.021%	$736K	$3.8M	10x	as long as short
Nado SPCX-PERP	+0.0192%	1h	152.95	−0.045%	$622K	$831K	20x	as long as short
RISEx SPCX/USDC	+0.0199%	1h	153.04	+0.014%	$408K	$549K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	153.01	−0.006%	$738K	$980K	10x	as long as short
Phoenix SPCXshort	+0.0262%	1h	153.02	0.000%	$445K	$267K	15x
Aster SPCXUSD1	+0.0404%	8h	153.10	+0.050%	$19.0M	$17.0M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.28	+0.170%	$9K	$27K	5.5x	as long as short
edgeX SPCXUSDC	+0.0612%	4h	153.00	−0.014%	$1.7M	$891K	20x	as long as short