Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0167%/8h= −18.3% APRpaid last 24h −0.024%

Price spread now: Gate against Bullet−0.026%7-day average −0.046% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$360.361% of the position

Long on Bullet Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.105%−$11 on $10k

Price spread, last 4 days (all we have)−0.927%−$93 · spread now −0.026%, 7d avg −0.046%

Together, before fees−1.032%−$103 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.046%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet SPCX-USD	153.10	0.0167	pay 0.0021% / 1h	22m 38s	$11K	$189K	10x
Short	Gate SPCX_USDT	153.06	0	get 0.0000% / 8h	6h 22m	$96.1M	$31.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.026%Rate

Funding earned: −$35.03
Price spread: −0.026% → −0.046%: $1.98
Slippage, 4 orders: −$13.11
Fee Bullet: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$69.16
Costs to cover: 0.361%
Break-even: never at this rate

Slippage from Bullet: live order book, 46 min ago; Gate: live order book, 1 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, 46 min ago	0.65 bp	5.7 bp −$6	20.5 bp −$205	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	0.33 bp	12.3 bp −$12	15.8 bp −$158	29.3 bp −$2,929	48.8 bp −$24.4K

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 −0.0343% / S +0.0539%	1h	153.06	−0.029%	$88K	—	20x	as long as short
Gate SPCX_USDTshort	0.0000%	8h	153.06	−0.026%	$96.1M	$31.3M	100x
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.689%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.96	−0.091%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.35	+0.163%	$8K	$946K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.12	+0.013%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0025%	1h	152.97	−0.087%	$7K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	153.04	−0.039%	$1.6M	$7.2M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	153.01	−0.059%	$2.5M	$7.3M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	153.32	+0.144%	$9K	$27K	5.5x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus SPCX-USD	+0.0040%	1h	153.00	−0.065%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.03	−0.046%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0049%	1h	153.05	−0.033%	$1.2M	$6.8M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	153.02	−0.052%	$501K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.08	−0.013%	$1.7M	$90K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	153.08	−0.013%	$534K	$405K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.91	−0.124%	$3.2M	$2.6M	10x	as long as short
Bybit SPCXUSDT	+0.0086%	8h	153.11	+0.007%	$30.8M	$43.0M	100x	as long as short
Paradex SPCX-USD-PERP	+0.0088%	8h	153.11	+0.007%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.98	−0.078%	$169K	$133K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.99	−0.072%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.01	−0.059%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.09	−0.007%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.09	−0.006%	$89	—	10x	as long as short
Bitget SPCXUSDT	+0.0148%	8h	153.13	+0.020%	$31.9M	$66.2M	75x	as long as short
Bullet SPCX-USDlong	+0.0167%	1h	153.10	long leg	$11K	$189K	10x
tradeXYZ xyz:SPCX	+0.0179%	1h	153.05	−0.033%	$142.4M	$119.1M	20x	as long as short
OKX SPCX-USDT-SWAP	+0.0196%	8h	153.11	+0.007%	$39.4M	$169.0M	75x	as long as short
Variational Omni SPCX	+0.0207%	8h	153.07	−0.020%	$6.0M	$3.3M	—	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0208%	1h	153.02	−0.052%	$72K	$1.1M	10x	as long as short
Binance SPCXUSDT	+0.0222%	8h	153.11	+0.005%	$253.0M	$1.37B	75x	as long as short
Extended SPCX-USD	+0.0224%	1h	153.06	−0.027%	$736K	$3.8M	10x	as long as short
Nado SPCX-PERP	+0.0244%	1h	152.97	−0.085%	$622K	$839K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0288%	1h	152.97	−0.085%	$738K	$983K	10x	as long as short
Phoenix SPCX	+0.0314%	1h	153.07	−0.020%	$445K	$270K	15x	as long as short
Aster SPCXUSD1	+0.0406%	8h	153.13	+0.019%	$19.0M	$14.9M	20x	as long as short
RISEx SPCX/USDC	+0.0410%	1h	153.11	+0.005%	$408K	$539K	20x	as long as short
edgeX SPCXUSDC	+0.0774%	4h	153.05	−0.034%	$1.7M	$892K	20x	as long as short