Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0148%/8h= −16.3% APRpaid last 24h −0.009%

Price spread now: Binance against Bullet+0.016%53s7-day average +0.008% · you sell dearer than you buy

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

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

costs, in and out, $10k−$240.241% of the position

Long on Bullet Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.090%−$9 on $10k

Price spread, last 4 days (all we have)+0.093%+$9 · spread now +0.016%, 7d avg +0.008%

Together, before fees+0.002%$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.008%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate. The two prices were read 53 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	Bullet SPCX-USD	152.64	0.0197	pay 0.0025% / 1h	50m 34s	$11K	$190K	10x
Short	Binance SPCXUSDT	152.66	0.0049	get 0.0049% / 8h	4h 50m	$252.2M	$1.37B	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bullet. 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 BulletbpFee BinancebpOrdersPrice spread, now +0.016%Rate

Funding earned: −$31.18
Price spread: +0.016% → +0.008%: $0.79
Slippage, 4 orders: −$6.09
Fee Bullet: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$54.48
Costs to cover: 0.241%
Break-even: never at this rate

Slippage from Bullet: live order book, 56 min ago; Binance: live order book, 16 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 Bullet live order book, 56 min ago	0.33 bp	8.0 bp −$8	20.7 bp −$207	doesn't fit	doesn't fit
Sell Binance live order book, 16 min ago	0.33 bp	5.3 bp −$5	5.9 bp −$59	11.3 bp −$1,128	25.4 bp −$12.7K

SPCX on 38 exchanges

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 −0.0187% / S +0.0435%	1h	152.53	−0.073%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0073%	8h	152.68	+0.028%	$2.0M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.65	+0.008%	$30.1M	$42.4M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.60	−0.024%	$96.2M	$30.4M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.67	+0.022%	$31.1M	$66.5M	75x	as long as short
StandX SPCX-USD	0.0000%	1h	152.58	−0.037%	$306K	$2.6M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.74	+0.067%	$8K	$809K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.69	+0.035%	$1.3M	$1.7M	75x	as long as short
Variational Omni SPCX	+0.0011%	8h	152.60	−0.021%	$5.9M	$2.7M	—	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0012%	1h	152.54	−0.064%	$42K	$1.4M	10x	as long as short

Show all 38 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps SPCXUSD	+0.0021%	1h	152.55	−0.060%	$7K	$7K	10x	as long as short
QFEX SPCX-USD	+0.0029%	1h	152.59	−0.031%	$1.2M	$5.4M	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.56	−0.050%	$1.6M	$7.2M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.51	−0.083%	$2.5M	$7.0M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	152.78	+0.094%	$9K	$28K	5.5x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.59	−0.031%	$103K	$293K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.55	−0.057%	—	$1.2M	10x	as long as short
Extended SPCX-USD	+0.0048%	1h	152.59	−0.029%	$700K	$5.3M	10x	as long as short
Binance SPCXUSDTshort	+0.0049%	8h	152.66	+0.016%	$252.2M	$1.37B	75x
tradeXYZ xyz:SPCX	+0.0050%	1h	152.53	−0.070%	$128.1M	$129.4M	20x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.59	−0.031%	$1.7M	$56K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.61	−0.018%	$532K	$377K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.53	−0.070%	$3.1M	$2.1M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0051%	8h	152.61	−0.019%	$101	—	5x	as long as short
OKX SPCX-USDT-SWAP	+0.0086%	8h	152.67	+0.022%	$39.8M	$167.6M	75x	as long as short
Pacifica SPCX	+0.0100%	1h	152.51	−0.083%	$169K	$114K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.52	−0.077%	$13.0M	$6.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.45	−0.123%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.62	−0.011%	$15K	$7K	10x	as long as short
RISEx SPCX/USDC	+0.0104%	1h	152.66	+0.015%	$351K	$482K	20x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.58	−0.039%	$88	—	10x	as long as short
Polymarket Perps SPCX-USD	+0.0150%	1h	152.62	−0.011%	$483K	$1.0M	10x	as long as short
Nado SPCX-PERP	+0.0175%	1h	152.55	−0.060%	$630K	$811K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0192%	1h	152.54	−0.064%	$732K	$1.1M	10x	as long as short
Bullet SPCX-USDlong	+0.0197%	1h	152.64	long leg	$11K	$190K	10x
Phoenix SPCX	+0.0210%	1h	152.54	−0.064%	$449K	$272K	15x	as long as short
Aster SPCXUSD1	+0.0421%	8h	152.78	+0.094%	$19.0M	$30.5M	20x	as long as short
edgeX SPCXUSDC	+0.0949%	4h	152.53	−0.070%	$1.7M	$889K	20x	as long as short