Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0187%/8h= +20.5% APRpaid last 24h +0.076%

Price spread now: Phoenix against BloFin−0.065%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs+$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$260.258% of the position

Long on BloFin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.298%+$30 on $10k

Price spread, last 3 days (all we have)+0.031%+$3 · spread now −0.065%, 7d avg −0.008%

Together, before fees+0.329%+$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.058% cheaper against BloFin than usual: you would sell low and buy high (spread −0.065% now, against its 7-day average of −0.008%). If the spread goes back, that is −$6 on $10k: about 25 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin SPCX-USDT	152.92	0.0074	pay 0.0074% / 8h	26m 22s	$1.9M	$1.4M	75x
Short	Phoenix SPCX	152.82	0.0261	get 0.0033% / 1h	26m 22s	$445K	$269K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against BloFin. 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 BloFinbpFee PhoenixbpOrdersPrice spread, now −0.065%Rate

Funding earned: $39.28
Price spread: −0.065% → −0.008%: −$5.77
Slippage, 4 orders: −$6.78
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $7.73
Costs to cover: 0.258%
Break-even: 5.6 days

Slippage from BloFin: live order book, 1 min ago; Phoenix: live order book, 51 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 BloFin live order book, 1 min ago	0.33 bp	6.3 bp −$6	6.4 bp −$64	8.9 bp −$894	15.3 bp −$7,631
Sell Phoenix live order book, 51 min ago	0.33 bp	5.3 bp −$5	18.0 bp −$180	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 −0.0275% / S +0.0490%	1h	152.91	−0.010%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.92	0.000%	$96.6M	$31.4M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.51	+12.810%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.81	−0.072%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.10	+0.118%	$8K	$972K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.91	−0.007%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0032%	1h	152.82	−0.065%	$7K	$10K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.87	−0.033%	$2.5M	$7.6M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+2.832%	$9K	$27K	5.5x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.90	−0.013%	$105K	$297K	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SPCX-USD-PERP	+0.0046%	1h	152.88	−0.026%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.89	−0.020%	$489K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.92	0.000%	$1.7M	$79K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.87	−0.033%	$536K	$409K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.72	−0.131%	$3.2M	$2.8M	10x	as long as short
QFEX SPCX-USD	+0.0052%	1h	152.88	−0.026%	$1.2M	$7.6M	10x	as long as short
BloFin SPCX-USDTlong	+0.0074%	8h	152.92	long leg	$1.9M	$1.4M	75x
Lighter SPCX	+0.0080%	1h	152.88	−0.026%	$1.6M	$7.4M	20x	as long as short
Paradex SPCX-USD-PERP	+0.0088%	8h	152.90	−0.014%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.82	−0.065%	$173K	$130K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.81	−0.072%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.92	0.000%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.93	+0.007%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.94	+0.015%	$89	—	10x	as long as short
Bullet SPCX-USD	+0.0132%	1h	152.94	+0.012%	$11K	$188K	10x	as long as short
Bybit SPCXUSDT	+0.0149%	8h	152.95	+0.020%	$30.7M	$42.8M	100x	as long as short
Variational Omni SPCX	+0.0173%	8h	152.92	−0.002%	$6.0M	$3.5M	—	as long as short
Extended SPCX-USD	+0.0192%	1h	152.91	−0.005%	$734K	$3.6M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0193%	8h	152.94	+0.013%	$39.0M	$169.4M	75x	as long as short
Binance SPCXUSDT	+0.0195%	8h	152.94	+0.013%	$253.2M	$1.39B	75x	as long as short
tradeXYZ xyz:SPCX	+0.0258%	1h	152.90	−0.013%	$143.4M	$118.9M	20x	as long as short
Phoenix SPCXshort	+0.0261%	1h	152.82	−0.065%	$445K	$269K	15x
Coinbase International SPCX-PERP-INTX	+0.0280%	1h	152.97	+0.033%	$733K	$970K	10x	as long as short
Aster SPCXUSD1	+0.0287%	8h	153.01	+0.059%	$19.0M	$21.3M	20x	as long as short
Nado SPCX-PERP	+0.0291%	1h	152.80	−0.080%	$602K	$884K	20x	as long as short
Bitget SPCXUSDT	+0.0308%	8h	152.95	+0.020%	$31.3M	$67.2M	75x	as long as short
RISEx SPCX/USDC	+0.0339%	1h	152.96	+0.027%	$403K	$539K	20x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0470%	1h	152.92	0.000%	$71K	$1.0M	10x	as long as short
edgeX SPCXUSDC	+0.0807%	4h	152.87	−0.031%	$1.7M	$891K	20x	as long as short