Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0791%/8h= +86.6% APRpaid last 24h −0.053%

Price spread now: edgeX against Bullet+0.006%53s7-day average −0.009% · 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−$240.236% of the position

Long on Bullet Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.253%+$25 on $10k

Price spread, last 4 days (all we have)−0.011%−$1 · spread now +0.006%, 7d avg −0.009%

Together, before fees+0.241%+ Points / potential airdropedgeX: Active · farm board+$24 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.009%, so right now this pair is about funding alone: +$24 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.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.253% in total (about 26.6% 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	152.65	0.0198	pay 0.0025% / 1h	55m 16s	$11K	$192K	10x
Short	edgeX SPCXUSDC	152.66	0.0988	get 0.0494% / 4h	1h 55m	$1.7M	$891K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.006%Rate

Funding earned: $166.02
Price spread: +0.006% → −0.009%: $1.56
Slippage, 4 orders: −$6.57
Fee Bullet: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $144.01
Costs to cover: 0.236%
Break-even: 0.9 days

Slippage from Bullet: live order book, 54 min ago; edgeX: 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, 54 min ago	0.65 bp	5.7 bp −$6	20.0 bp −$200	doesn't fit	doesn't fit
Sell edgeX live order book, 4 min ago	1.64 bp	6.1 bp −$6	7.1 bp −$71	21.8 bp −$2,175	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 −0.0187% / S +0.0435%	1h	152.50	−0.095%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0028%	8h	152.60	−0.033%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.60	−0.033%	$30.6M	$42.7M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.57	−0.052%	$96.2M	$31.7M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.63	−0.013%	$31.2M	$66.0M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+13.022%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.67	+0.013%	$300K	$2.7M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.83	+0.118%	$8K	$897K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.66	+0.007%	$1.3M	$1.8M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0018%	1h	152.54	−0.074%	$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	152.52	−0.085%	$2.5M	$7.2M	20x	as long as short
QFEX SPCX-USD	+0.0038%	1h	152.57	−0.052%	$1.2M	$5.5M	10x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.58	−0.046%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.56	−0.059%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.56	−0.059%	$487K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.57	−0.052%	$1.7M	$96K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.56	−0.059%	$530K	$383K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.57	−0.052%	$3.2M	$2.3M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0060%	8h	152.64	−0.009%	$101	—	5x	as long as short
tradeXYZ xyz:SPCX	+0.0060%	1h	152.51	−0.092%	$130.1M	$129.1M	20x	as long as short
Lighter SPCX	+0.0064%	1h	152.54	−0.072%	$1.6M	$7.3M	20x	as long as short
RISEx SPCX/USDC	+0.0072%	1h	152.61	−0.026%	$408K	$505K	20x	as long as short
Variational Omni SPCX	+0.0073%	8h	152.63	−0.014%	$6.0M	$2.8M	—	as long as short
Binance SPCXUSDT	+0.0092%	8h	152.61	−0.026%	$250.1M	$1.36B	75x	as long as short
Extended SPCX-USD	+0.0096%	1h	152.56	−0.058%	$732K	$4.6M	10x	as long as short
Pacifica SPCX	+0.0100%	1h	152.52	−0.085%	$169K	$118K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.51	−0.092%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.54	−0.072%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.61	−0.026%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.58	−0.045%	$88	—	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0109%	8h	152.63	−0.013%	$39.6M	$166.9M	75x	as long as short
Nado SPCX-PERP	+0.0191%	1h	152.44	−0.139%	$611K	$800K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0192%	1h	152.61	−0.026%	$729K	$929K	10x	as long as short
Bullet SPCX-USDlong	+0.0198%	1h	152.65	long leg	$11K	$192K	10x
Phoenix SPCX	+0.0263%	1h	152.65	0.000%	$444K	$266K	15x	as long as short
Aster SPCXUSD1	+0.0349%	8h	152.71	+0.037%	$18.9M	$25.3M	20x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0406%	1h	152.56	−0.059%	$89K	$1.3M	10x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.89	+0.157%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDCshort	+0.0988%	4h	152.66	+0.006%	$1.7M	$891K	20x