Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0273%/8h= −29.9% APRpaid last 24h +0.004%

Price spread now: Bitget against Bullet+0.002%7-day average −0.004% · 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−$25as in the Price arb table

costs, in and out, $10k−$250.251% of the position

Long on Bullet Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.077%−$8 on $10k

Price spread, last 4 days (all we have)−0.141%−$14 · spread now +0.002%, 7d avg −0.004%

Together, before fees−0.218%−$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.004%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.077% in total (about -8.1% 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	Bullet SPCX-USD	152.41	0.0273	pay 0.0034% / 1h	34m 59s	$11K	$192K	10x
Short	Bitget SPCXUSDT	152.41	0	get 0.0000% / 8h	1h 34m	$31.2M	$66.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.002%Rate

Funding earned: −$57.36
Price spread: +0.002% → −0.004%: $0.59
Slippage, 4 orders: −$5.14
Fee Bullet: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$81.91
Costs to cover: 0.251%
Break-even: never at this rate

Slippage from Bullet: live order book, 9 min ago; Bitget: live order book, 4 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, 9 min ago	0.65 bp	5.8 bp −$6	20.4 bp −$204	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	0.33 bp	7.1 bp −$7	8.9 bp −$89	19.2 bp −$1,917	23.9 bp −$12.0K

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 −0.0187% / S +0.0435%	1h	152.31	−0.067%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0011%	8h	152.40	−0.005%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.40	−0.005%	$30.6M	$42.7M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.36	−0.031%	$96.1M	$31.9M	100x	as long as short
Bitget SPCXUSDTshort	0.0000%	8h	152.41	+0.002%	$31.2M	$66.0M	75x
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+13.199%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.38	−0.018%	$300K	$2.7M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.67	+0.173%	$8K	$895K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.48	+0.048%	$1.3M	$1.8M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0024%	1h	152.39	−0.010%	$7K	$8K	10x	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	152.30	−0.070%	$2.5M	$7.3M	20x	as long as short
QFEX SPCX-USD	+0.0038%	1h	152.38	−0.018%	$1.2M	$5.5M	10x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.34	−0.044%	$103K	$299K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.33	−0.051%	—	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.37	−0.024%	$1.7M	$97K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.39	−0.011%	$531K	$381K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.25	−0.103%	$3.2M	$2.2M	10x	as long as short
RISEx SPCX/USDC	+0.0072%	1h	152.42	+0.011%	$408K	$498K	20x	as long as short
Paradex SPCX-USD-PERP	+0.0089%	8h	152.42	+0.010%	$101	—	5x	as long as short
Variational Omni SPCX	+0.0090%	8h	152.38	−0.019%	$5.9M	$2.8M	—	as long as short
tradeXYZ xyz:SPCX	+0.0094%	1h	152.30	−0.070%	$129.9M	$129.0M	20x	as long as short
Pacifica SPCX	+0.0100%	1h	152.34	−0.044%	$169K	$120K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.27	−0.090%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.37	−0.024%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.39	−0.011%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.39	−0.012%	$88	—	10x	as long as short
Binance SPCXUSDT	+0.0109%	8h	152.39	−0.010%	$251.5M	$1.36B	75x	as long as short
Polymarket Perps SPCX-USD	+0.0110%	1h	152.38	−0.018%	$487K	$1.2M	10x	as long as short
Lighter SPCX	+0.0112%	1h	152.31	−0.064%	$1.6M	$7.4M	20x	as long as short
Extended SPCX-USD	+0.0112%	1h	152.36	−0.033%	$733K	$3.8M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0120%	8h	152.43	+0.015%	$39.5M	$166.6M	75x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0192%	1h	152.36	−0.031%	$732K	$938K	10x	as long as short
edgeX SPCXUSDC	+0.0209%	4h	152.39	−0.009%	$1.7M	$892K	20x	as long as short
Phoenix SPCX	+0.0210%	1h	152.38	−0.018%	$443K	$266K	15x	as long as short
Nado SPCX-PERP	+0.0244%	1h	152.25	−0.105%	$626K	$808K	20x	as long as short
Bullet SPCX-USDlong	+0.0273%	1h	152.41	long leg	$11K	$192K	10x
Aster SPCXUSD1	+0.0372%	8h	152.51	+0.066%	$18.9M	$27.4M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.81	+0.264%	$9K	$28K	5.5x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0538%	1h	152.36	−0.031%	$89K	$1.3M	10x	as long as short