Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0066%/8h= +7.2% APRpaid last 24h −0.010%

Price spread now: Variational Omni against Bullet−0.028%7-day average −0.004% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bullet Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.090%−$9 on $10k

Price spread, last 4 days (all we have)+0.158%+$16 · spread now −0.028%, 7d avg −0.004%

Together, before fees+0.067%+ Points / potential airdropVariational Omni: Active · farm board+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.024% cheaper against Bullet than usual: you would sell low and buy high (spread −0.028% now, against its 7-day average of −0.004%). If the spread goes back, that is −$2 on $10k: about 29 hours of funding at the current rate (+$2 a day). Mind the row above: over the last 3 days funding on this pair cost −0.090%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet SPCX-USD	153.11	0.0088	pay 0.0011% / 1h	43m 46s	$11K	$192K	10x
Short	Variational Omni SPCX	153.07	0.0154	get 0.0154% / 8h	4h 43m	$6.0M	$3.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.028%Rate

Funding earned: $13.81
Price spread: −0.028% → −0.004%: −$2.37
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $3.44
Costs to cover: 0.080%
Break-even: 5.3 days

Slippage unknown: Bullet: live order book, 15 min ago; Variational Omni: RFQ quote, just now. Net counts fees only.

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, 15 min ago	0.65 bp	5.7 bp −$6	20.2 bp −$202	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, just now	2.35 bp	doesn't fit	3.3 bp −$33	doesn't fit	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 −0.0314% / S +0.0531%	1h	153.06	−0.029%	$91K	—	20x	as long as short
Bybit SPCXUSDT	0.0000%	8h	153.08	−0.019%	$30.8M	$42.9M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.09	−0.013%	$96.3M	$31.3M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	153.14	+0.020%	$31.7M	$65.4M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.681%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	153.01	−0.065%	$302K	$3.0M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.33	+0.144%	$8K	$936K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.09	−0.013%	$1.3M	$1.7M	75x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0011%	1h	153.04	−0.046%	$73K	$1.2M	10x	as long as short
Aftermath Perps SPCXUSD	+0.0023%	1h	153.03	−0.051%	$8K	$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 SPCX	+0.0032%	1h	153.07	−0.026%	$1.6M	$7.3M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	153.02	−0.059%	$2.5M	$7.2M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	153.01	−0.065%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.10	−0.006%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0046%	1h	153.05	−0.039%	$1.2M	$6.3M	10x	as long as short
BloFin SPCX-USDT	+0.0046%	8h	153.10	−0.006%	$1.9M	$1.4M	75x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	153.06	−0.032%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.08	−0.019%	$1.7M	$95K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	153.09	−0.013%	$533K	$397K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.92	−0.124%	$3.2M	$2.5M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0066%	8h	153.09	−0.014%	$101	—	5x	as long as short
tradeXYZ xyz:SPCX	+0.0077%	1h	153.07	−0.026%	$141.5M	$119.2M	20x	as long as short
Bullet SPCX-USDlong	+0.0088%	1h	153.11	long leg	$11K	$192K	10x
Pacifica SPCX	+0.0100%	1h	153.00	−0.072%	$169K	$130K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.99	−0.078%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.01	−0.065%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.10	−0.006%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.09	−0.013%	$89	—	10x	as long as short
Nado SPCX-PERP	+0.0139%	1h	153.02	−0.059%	$617K	$824K	20x	as long as short
Variational Omni SPCXshort	+0.0154%	8h	153.07	−0.028%	$6.0M	$3.1M	—
OKX SPCX-USDT-SWAP	+0.0158%	8h	153.13	+0.013%	$39.5M	$167.0M	75x	as long as short
Binance SPCXUSDT	+0.0165%	8h	153.11	0.000%	$252.3M	$1.37B	75x	as long as short
Extended SPCX-USD	+0.0168%	1h	153.07	−0.026%	$738K	$3.8M	10x	as long as short
RISEx SPCX/USDC	+0.0191%	1h	153.13	+0.015%	$410K	$530K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	153.04	−0.046%	$738K	$925K	10x	as long as short
Phoenix SPCX	+0.0261%	1h	153.05	−0.039%	$445K	$268K	15x	as long as short
edgeX SPCXUSDC	+0.0297%	4h	153.05	−0.036%	$1.7M	$893K	20x	as long as short
Aster SPCXUSD1	+0.0411%	8h	153.15	+0.025%	$19.0M	$19.3M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.35	+0.157%	$9K	$28K	5.5x	as long as short