Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0280%/8h= +30.7% APRpaid last 24h +0.050%

Price spread now: Coinbase International against Bybit−0.066%7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$320.322% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.279%+$28 on $10k

Price spread, last 4 days (all we have)+0.210%+$21 · spread now −0.066%, 7d avg +0.004%

Together, before fees+0.489%+$49 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.070% cheaper against Bybit than usual: you would sell low and buy high (spread −0.066% now, against its 7-day average of +0.004%). If the spread goes back, that is −$7 on $10k: about 20 hours of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.279% in total) that is about 42 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SPCXUSDT	152.23	0	get 0.0000% / 8h	7h 48m	$30.4M	$43.0M	100x
Short	Coinbase International SPCX-PERP-INTX	152.13	0.0280	get 0.0035% / 1h	48m 15s	$693K	$992K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.066%Rate

Funding earned: $58.8
Price spread: −0.066% → +0.004%: −$6.98
Slippage, 4 orders: −$11.22
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $19.6
Costs to cover: 0.322%
Break-even: 4.7 days

Slippage from Bybit: live order book, 6 min ago; Coinbase International: live order book, 50 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, 6 min ago	0.33 bp	7.8 bp −$8	11.9 bp −$119	42.7 bp −$4,268	doesn't fit
Sell Coinbase International live order book, 50 min ago	2.95 bp	9.4 bp −$9	11.8 bp −$118	doesn't fit	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	152.18	−0.036%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0011%	8h	152.27	+0.026%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDTlong	0.0000%	8h	152.23	long leg	$30.4M	$43.0M	100x
Gate SPCX_USDT	0.0000%	8h	152.20	−0.020%	$96.1M	$32.0M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.25	+0.013%	$31.0M	$66.8M	75x	as long as short
StandX SPCX-USD	0.0000%	1h	152.28	+0.033%	$300K	$2.6M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.52	+0.191%	$8K	$862K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	0.0000%	1h	152.16	−0.046%	$87K	$1.4M	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.34	+0.072%	$1.3M	$1.8M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0021%	1h	152.20	−0.021%	$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	152.18	−0.033%	$1.6M	$7.3M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.17	−0.039%	$2.5M	$7.2M	20x	as long as short
QFEX SPCX-USD	+0.0035%	1h	152.21	−0.013%	$1.2M	$5.5M	10x	as long as short
Bullet SPCX-USD	+0.0040%	1h	152.26	+0.020%	$11K	$191K	10x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.19	−0.026%	$102K	$299K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.25	+0.013%	—	$1.2M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.17	−0.039%	$129.8M	$129.6M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.17	−0.039%	$488K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.18	−0.033%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.20	−0.020%	$529K	$366K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.13	−0.066%	$3.2M	$2.2M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0066%	8h	152.24	+0.007%	$100	—	5x	as long as short
Nado SPCX-PERP	+0.0080%	1h	152.20	−0.018%	$635K	$815K	20x	as long as short
Variational Omni SPCX	+0.0092%	8h	152.28	+0.033%	$5.9M	$2.8M	—	as long as short
Pacifica SPCX	+0.0100%	1h	152.20	−0.020%	$168K	$118K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.16	−0.046%	$13.0M	$5.7M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.38	+0.099%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.26	+0.020%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.21	−0.010%	$88	—	10x	as long as short
Binance SPCXUSDT	+0.0109%	8h	152.24	+0.007%	$253.4M	$1.37B	75x	as long as short
Extended SPCX-USD	+0.0112%	1h	152.21	−0.014%	$725K	$5.3M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0122%	8h	152.24	+0.007%	$39.5M	$167.2M	75x	as long as short
RISEx SPCX/USDC	+0.0190%	1h	152.26	+0.020%	$381K	$506K	20x	as long as short
Phoenix SPCX	+0.0210%	1h	152.18	−0.033%	$447K	$268K	15x	as long as short
Coinbase International SPCX-PERP-INTXshort	+0.0280%	1h	152.13	−0.066%	$693K	$992K	10x
edgeX SPCXUSDC	+0.0311%	4h	152.31	+0.054%	$1.7M	$890K	20x	as long as short
Aster SPCXUSD1	+0.0381%	8h	152.35	+0.080%	$18.9M	$30.7M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.57	+0.223%	$9K	$28K	5.5x	as long as short