Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0250%/8h= −27.4% APRpaid last 24h −0.023%

Price spread now: Polymarket Perps against Bitget−0.046%50s7-day average −0.081% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as 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−$230.229% of the position

Long on Bitget Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 7 days+0.004%$0 · spread now −0.046%, 7d avg −0.081%

Together, before fees+0.018%+$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.035% dearer against Bitget than usual: you sell high and buy low (spread −0.046% now, against its 7-day average of −0.081%): +$4 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 11 hours. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.014% in total (about 0.7% 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	153.13	0.0300	pay 0.0300% / 8h	7h 12m	$31.6M	$66.7M	75x
Short	Polymarket Perps SPCX-USD	153.06	0.0050	get 0.0006% / 1h	12m 42s	$489K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.046%Rate

Funding earned: −$52.5
Price spread: −0.046% → −0.081%: $3.53
Slippage, 4 orders: −$2.93
Fee Bitget: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$71.9
Costs to cover: 0.229%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; Polymarket Perps: live order book, 1 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, 1 min ago	0.33 bp	6.6 bp −$7	8.0 bp −$80	14.4 bp −$1,437	19.6 bp −$9,799
Sell Polymarket Perps live order book, 1 min ago	0.98 bp	5.0 bp −$5	6.2 bp −$62	9.3 bp −$928	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 −0.0323% / S +0.0524%	1h	153.07	−0.036%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.08	−0.033%	$96.4M	$31.3M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.662%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.97	−0.104%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.29	+0.104%	$8K	$954K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.09	−0.026%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0028%	1h	152.99	−0.092%	$8K	$8K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	153.02	−0.072%	$2.5M	$7.5M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+2.691%	$9K	$27K	5.5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.09	−0.026%	—	$1.2M	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SPCX	+0.0048%	1h	153.04	−0.059%	$1.6M	$7.4M	20x	as long as short
Polymarket Perps SPCX-USDshort	+0.0050%	1h	153.06	−0.046%	$489K	$1.1M	10x
SoDEX SPCX-USD	+0.0050%	1h	153.08	−0.033%	$1.7M	$86K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	153.13	0.000%	$534K	$407K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.92	−0.137%	$3.2M	$2.6M	10x	as long as short
QFEX SPCX-USD	+0.0063%	1h	153.06	−0.046%	$1.2M	$7.2M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0098%	8h	153.11	−0.010%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	153.02	−0.072%	$173K	$129K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.99	−0.091%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.01	−0.078%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.13	0.000%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.11	−0.010%	$89	—	10x	as long as short
BloFin SPCX-USDT	+0.0122%	8h	153.13	0.000%	$1.9M	$1.4M	75x	as long as short
Bybit SPCXUSDT	+0.0167%	8h	153.13	0.000%	$30.9M	$42.8M	100x	as long as short
Arcus SPCX-USD	+0.0194%	1h	153.02	−0.072%	$105K	$297K	5x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0208%	1h	153.05	−0.052%	$72K	$1.1M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0217%	8h	153.10	−0.020%	$39.3M	$169.1M	75x	as long as short
tradeXYZ xyz:SPCX	+0.0222%	1h	153.05	−0.052%	$143.1M	$119.3M	20x	as long as short
Variational Omni SPCX	+0.0226%	8h	153.06	−0.045%	$6.0M	$3.5M	—	as long as short
Bullet SPCX-USD	+0.0232%	1h	153.12	−0.007%	$11K	$188K	10x	as long as short
Extended SPCX-USD	+0.0240%	1h	153.07	−0.042%	$734K	$3.9M	10x	as long as short
Nado SPCX-PERP	+0.0242%	1h	152.99	−0.089%	$620K	$853K	20x	as long as short
Binance SPCXUSDT	+0.0244%	8h	153.10	−0.020%	$252.8M	$1.38B	75x	as long as short
Bitget SPCXUSDTlong	+0.0300%	8h	153.13	long leg	$31.6M	$66.7M	75x
Phoenix SPCX	+0.0314%	1h	153.08	−0.033%	$445K	$271K	15x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0328%	1h	153.01	−0.078%	$731K	$977K	10x	as long as short
edgeX SPCXUSDC	+0.0339%	4h	153.07	−0.041%	$1.7M	$894K	20x	as long as short
Aster SPCXUSD1	+0.0384%	8h	153.12	−0.006%	$19.0M	$18.3M	20x	as long as short
RISEx SPCX/USDC	+0.0409%	1h	153.13	+0.003%	$401K	$536K	20x	as long as short