Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0049%/8h= −5.4% APRpaid last 24h +0.019%

Price spread now: Bullet against Bybit+0.007%7-day average +0.024% · 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−$27as in the Price arb table

costs, in and out, $10k−$250.249% of the position

Long on Bybit Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.099%+$10 on $10k

Price spread, last 3 days (all we have)+0.230%+$23 · spread now +0.007%, 7d avg +0.024%

Together, before fees+0.329%+$33 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.024%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +0.099%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SPCXUSDT	152.60	0.0137	pay 0.0137% / 8h	1h 20m	$30.8M	$42.4M	100x
Short	Bullet SPCX-USD	152.61	0.0088	get 0.0011% / 1h	20m 52s	$11K	$188K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Bybit. 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 BybitbpFee BulletbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$10.3
Price spread: +0.007% → +0.024%: −$1.71
Slippage, 4 orders: −$5.91
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$36.93
Costs to cover: 0.249%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Bullet: live order book, 63 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 Bybit live order book, 3 min ago	0.33 bp	6.7 bp −$7	9.5 bp −$95	60.2 bp −$6,022	doesn't fit
Sell Bullet live order book, 63 min ago	0.33 bp	5.4 bp −$5	20.2 bp −$202	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 −0.0272% / S +0.0488%	1h	152.57	−0.016%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.59	−0.007%	$96.5M	$30.9M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+13.051%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.63	+0.020%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.82	+0.144%	$8K	$978K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.61	+0.007%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0024%	1h	152.59	−0.006%	$7K	$10K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.53	−0.046%	$1.7M	$7.2M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.53	−0.046%	$2.5M	$7.6M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+3.047%	$9K	$27K	5.5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SPCX-USD-PERP	+0.0046%	1h	152.56	−0.026%	—	$1.1M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.58	−0.013%	$488K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.59	−0.007%	$1.7M	$79K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.61	+0.007%	$538K	$403K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.48	−0.079%	$3.2M	$2.6M	10x	as long as short
QFEX SPCX-USD	+0.0066%	1h	152.59	−0.007%	$1.2M	$7.6M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0067%	8h	152.59	−0.005%	$101	—	5x	as long as short
BloFin SPCX-USDT	+0.0076%	8h	152.62	+0.013%	$1.9M	$1.4M	75x	as long as short
Bullet SPCX-USDshort	+0.0088%	1h	152.61	+0.007%	$11K	$188K	10x
Pacifica SPCX	+0.0100%	1h	152.52	−0.052%	$175K	$133K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.52	−0.052%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.65	+0.033%	$58K	$270K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.63	+0.020%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.62	+0.014%	$89	—	10x	as long as short
Bybit SPCXUSDTlong	+0.0137%	8h	152.60	long leg	$30.8M	$42.4M	100x
tradeXYZ xyz:SPCX	+0.0143%	1h	152.57	−0.020%	$130.1M	$107.5M	20x	as long as short
Variational Omni SPCX	+0.0177%	8h	152.63	+0.017%	$6.0M	$3.9M	—	as long as short
OKX SPCX-USDT-SWAP	+0.0180%	8h	152.63	+0.020%	$38.9M	$168.4M	75x	as long as short
Extended SPCX-USD	+0.0192%	1h	152.59	−0.009%	$739K	$3.6M	10x	as long as short
Binance SPCXUSDT	+0.0196%	8h	152.61	+0.005%	$255.4M	$1.38B	75x	as long as short
Arcus SPCX-USD	+0.0227%	1h	152.54	−0.039%	$106K	$296K	5x	as long as short
Nado SPCX-PERP	+0.0232%	1h	152.49	−0.072%	$624K	$872K	20x	as long as short
Aster SPCXUSD1	+0.0246%	8h	152.68	+0.053%	$19.0M	$21.8M	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	152.71	+0.072%	$741K	$947K	10x	as long as short
Phoenix SPCX	+0.0314%	1h	152.60	0.000%	$445K	$196K	15x	as long as short
Bitget SPCXUSDT	+0.0315%	8h	152.65	+0.033%	$31.0M	$66.5M	75x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0340%	1h	152.57	−0.020%	$71K	$1.1M	10x	as long as short
edgeX SPCXUSDC	+0.0461%	4h	152.62	+0.015%	$1.7M	$892K	20x	as long as short
RISEx SPCX/USDC	+0.0543%	1h	152.66	+0.043%	$402K	$548K	20x	as long as short