Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0186%/8h= +20.4% APRpaid last 24h +0.007%

Price spread now: Nado against Bitget−0.071%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$300.304% of the position

Long on Bitget Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.036%+$4 on $10k

Price spread, last 7 days+0.124%+$12 · spread now −0.071%, 7d avg −0.022%

Together, before fees+0.159%+ Points / potential airdropNado: Active · farm board+$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.049% cheaper against Bitget than usual: you would sell low and buy high (spread −0.071% now, against its 7-day average of −0.022%). If the spread goes back, that is −$5 on $10k: about 21 hours of funding at the current rate (+$6 a day). At the pace of the last 3 days (+0.036% in total) that is about 4.5 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.036% in total (about 4.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SPCXUSDT	153.06	0.0006	pay 0.0006% / 8h	5h 36m	$31.7M	$66.1M	75x
Short	Nado SPCX-PERP	152.95	0.0192	get 0.0024% / 1h	36m 59s	$622K	$831K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Bitget. 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 BitgetbpFee NadobpOrdersPrice spread, now −0.071%Rate

Funding earned: $39.1
Price spread: −0.071% → −0.022%: −$4.9
Slippage, 4 orders: −$11.42
Fee Bitget: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $3.79
Costs to cover: 0.304%
Break-even: 6.3 days

Slippage from Bitget: live order book, 2 min ago; Nado: 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 Bitget live order book, 2 min ago	0.33 bp	6.8 bp −$7	8.3 bp −$83	22.4 bp −$2,243	31.8 bp −$15.9K
Sell Nado live order book, 26 min ago	0.33 bp	9.2 bp −$9	25.8 bp −$258	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	−0.042%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.00	−0.039%	$96.1M	$31.3M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.717%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.95	−0.072%	$302K	$3.0M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.22	+0.105%	$8K	$940K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.05	−0.007%	$1.3M	$1.7M	75x	as long as short
Bitget SPCXUSDTlong	+0.0006%	8h	153.06	long leg	$31.7M	$66.1M	75x
Deribit SPCX_USDC-PERPETUAL	+0.0012%	1h	152.97	−0.059%	$72K	$1.2M	10x	as long as short
Aftermath Perps SPCXUSD	+0.0025%	1h	152.96	−0.066%	$7K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.98	−0.052%	$1.6M	$7.2M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SPCX	+0.0032%	1h	152.96	−0.065%	$2.5M	$7.2M	20x	as long as short
Bybit SPCXUSDT	+0.0034%	8h	153.02	−0.026%	$30.8M	$42.8M	100x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.95	−0.072%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.01	−0.033%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0048%	1h	152.98	−0.052%	$1.2M	$6.6M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.97	−0.059%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.99	−0.046%	$1.7M	$93K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.99	−0.046%	$534K	$402K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.85	−0.137%	$3.2M	$2.5M	10x	as long as short
BloFin SPCX-USDT	+0.0068%	8h	153.03	−0.020%	$1.9M	$1.4M	75x	as long as short
Paradex SPCX-USD-PERP	+0.0072%	8h	153.03	−0.019%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.92	−0.091%	$169K	$129K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.93	−0.085%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.93	−0.085%	$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	−0.039%	$89	—	10x	as long as short
Bullet SPCX-USD	+0.0132%	1h	153.02	−0.026%	$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	−0.036%	$6.0M	$3.1M	—	as long as short
tradeXYZ xyz:SPCX	+0.0180%	1h	152.98	−0.052%	$142.1M	$119.4M	20x	as long as short
Binance SPCXUSDT	+0.0188%	8h	153.02	−0.023%	$252.6M	$1.37B	75x	as long as short
Extended SPCX-USD	+0.0192%	1h	152.98	−0.053%	$736K	$3.8M	10x	as long as short
Nado SPCX-PERPshort	+0.0192%	1h	152.95	−0.071%	$622K	$831K	20x
RISEx SPCX/USDC	+0.0199%	1h	153.03	−0.021%	$408K	$549K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	153.01	−0.033%	$738K	$980K	10x	as long as short
Phoenix SPCX	+0.0262%	1h	153.02	−0.026%	$445K	$267K	15x	as long as short
Aster SPCXUSD1	+0.0405%	8h	153.10	+0.023%	$19.0M	$17.0M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.28	+0.144%	$9K	$27K	5.5x	as long as short
edgeX SPCXUSDC	+0.0612%	4h	153.00	−0.040%	$1.7M	$891K	20x	as long as short