Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.023%

Price spread now: Bybit against Bullet+0.039%7-day average −0.019% · 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−$20as in the Price arb table

costs, in and out, $10k−$260.255% of the position

Long on Bullet Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.104%−$10 on $10k

Price spread, last 4 days (all we have)−0.516%−$52 · spread now +0.039%, 7d avg −0.019%

Together, before fees−0.620%−$62 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.059% dearer against Bullet than usual: you sell high and buy low (spread +0.039% now, against its 7-day average of −0.019%): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.9 days. At the pace of the last 4 days (−0.104% in total) that is about 48 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet SPCX-USD	152.19	0.0033	pay 0.0004% / 1h	49m 36s	$11K	$192K	10x
Short	Bybit SPCXUSDT	152.25	0	get 0.0000% / 8h	7h 49m	$30.4M	$43.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.039%Rate

Funding earned: −$6.99
Price spread: +0.039% → −0.019%: $5.88
Slippage, 4 orders: −$6.53
Fee Bullet: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$26.64
Costs to cover: 0.255%
Break-even: never at this rate

Slippage from Bullet: live order book, 49 min ago; Bybit: 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, 49 min ago	0.33 bp	5.5 bp −$6	20.1 bp −$201	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.33 bp	6.8 bp −$7	10.4 bp −$104	29.6 bp −$2,962	doesn't fit

SPCX on 38 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	152.09	−0.062%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0011%	8h	152.31	+0.079%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDTshort	0.0000%	8h	152.25	+0.039%	$30.4M	$43.0M	100x
Gate SPCX_USDT	0.0000%	8h	152.23	+0.026%	$96.2M	$31.9M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.28	+0.059%	$31.0M	$66.7M	75x	as long as short
StandX SPCX-USD	0.0000%	1h	152.32	+0.085%	$300K	$2.6M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.55	+0.237%	$8K	$862K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	0.0000%	1h	152.13	−0.039%	$87K	$1.4M	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.28	+0.059%	$1.3M	$1.8M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0021%	1h	152.17	−0.011%	$7K	$7K	10x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SPCX	+0.0032%	1h	152.22	+0.020%	$1.6M	$7.3M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.19	0.000%	$2.5M	$7.2M	20x	as long as short
Bullet SPCX-USDlong	+0.0033%	1h	152.19	long leg	$11K	$192K	10x
QFEX SPCX-USD	+0.0035%	1h	152.24	+0.033%	$1.2M	$5.5M	10x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.20	+0.007%	$102K	$299K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.25	+0.039%	—	$1.2M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.18	−0.007%	$129.9M	$129.6M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.16	−0.020%	$488K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.18	−0.007%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.22	+0.020%	$529K	$367K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.13	−0.039%	$3.2M	$2.2M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0066%	8h	152.25	+0.042%	$100	—	5x	as long as short
Nado SPCX-PERP	+0.0080%	1h	152.23	+0.025%	$635K	$815K	20x	as long as short
Variational Omni SPCX	+0.0092%	8h	152.28	+0.059%	$5.9M	$2.8M	—	as long as short
Pacifica SPCX	+0.0100%	1h	152.18	−0.007%	$168K	$118K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.16	−0.020%	$13.0M	$5.7M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.38	+0.125%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.23	+0.026%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.17	−0.014%	$88	—	10x	as long as short
Binance SPCXUSDT	+0.0109%	8h	152.24	+0.036%	$253.4M	$1.37B	75x	as long as short
Extended SPCX-USD	+0.0112%	1h	152.21	+0.015%	$723K	$5.3M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0123%	8h	152.30	+0.072%	$39.5M	$167.2M	75x	as long as short
RISEx SPCX/USDC	+0.0190%	1h	152.26	+0.047%	$381K	$506K	20x	as long as short
Phoenix SPCX	+0.0210%	1h	152.18	−0.007%	$447K	$268K	15x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0280%	1h	152.13	−0.039%	$693K	$992K	10x	as long as short
edgeX SPCXUSDC	+0.0311%	4h	152.31	+0.081%	$1.7M	$890K	20x	as long as short
Aster SPCXUSD1	+0.0380%	8h	152.35	+0.107%	$18.9M	$30.7M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.57	+0.250%	$9K	$28K	5.5x	as long as short