Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0072%/8h= +7.9% APRpaid last 24h +0.043%

Price spread now: Deribit against Bybit−0.039%7-day average +0.004% · 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−$38as in the Price arb table

costs, in and out, $10k−$340.336% of the position

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.105%+$10 on $10k

Price spread, last 3 days (all we have)+0.061%+$6 · spread now −0.039%, 7d avg +0.004%

Together, before fees+0.166%+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.043% cheaper against Bybit than usual: you would sell low and buy high (spread −0.039% now, against its 7-day average of +0.004%). If the spread goes back, that is −$4 on $10k: about 48 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SPCXUSDT	152.64	0.0137	pay 0.0137% / 8h	1h 27m	$30.8M	$42.3M	100x
Short	Deribit SPCX_USDC-PERPETUAL	152.58	0.0209	get 0.0026% / 1h	27m 42s	$70K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.039%Rate

Funding earned: $15.13
Price spread: −0.039% → +0.004%: −$4.32
Slippage, 4 orders: −$15.62
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$22.81
Costs to cover: 0.336%
Break-even: 17.5 days

Slippage from Bybit: live order book, 1 min ago; Deribit: 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 Bybit live order book, 1 min ago	0.33 bp	7.0 bp −$7	9.8 bp −$98	46.2 bp −$4,621	doesn't fit
Sell Deribit live order book, 1 min ago	6.23 bp	10.3 bp −$10	11.9 bp −$119	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	152.60	−0.023%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.61	−0.020%	$96.5M	$30.9M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.51	+13.021%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.65	+0.007%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.84	+0.131%	$8K	$977K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.65	+0.007%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0023%	1h	152.59	−0.032%	$7K	$10K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.56	−0.052%	$1.6M	$7.2M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.56	−0.052%	$2.4M	$7.5M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+3.020%	$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	152.59	−0.033%	—	$1.1M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.61	−0.020%	$489K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.61	−0.020%	$1.7M	$79K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.62	−0.013%	$539K	$404K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.51	−0.085%	$3.2M	$2.6M	10x	as long as short
QFEX SPCX-USD	+0.0066%	1h	152.61	−0.020%	$1.2M	$7.6M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0069%	8h	152.62	−0.015%	$101	—	5x	as long as short
Bullet SPCX-USD	+0.0070%	1h	152.64	0.000%	$11K	$189K	10x	as long as short
BloFin SPCX-USDT	+0.0078%	8h	152.69	+0.033%	$1.9M	$1.4M	75x	as long as short
Pacifica SPCX	+0.0100%	1h	152.55	−0.059%	$175K	$133K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.51	−0.085%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.57	−0.046%	$58K	$270K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.64	0.000%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.63	−0.004%	$89	—	10x	as long as short
tradeXYZ xyz:SPCX	+0.0129%	1h	152.59	−0.033%	$130.0M	$107.5M	20x	as long as short
Bybit SPCXUSDTlong	+0.0137%	8h	152.64	long leg	$30.8M	$42.3M	100x
OKX SPCX-USDT-SWAP	+0.0180%	8h	152.64	0.000%	$38.9M	$168.4M	75x	as long as short
Variational Omni SPCX	+0.0180%	8h	152.64	−0.003%	$6.0M	$3.9M	—	as long as short
Binance SPCXUSDT	+0.0197%	8h	152.64	−0.001%	$255.5M	$1.38B	75x	as long as short
Extended SPCX-USD	+0.0200%	1h	152.61	−0.018%	$715K	$3.6M	10x	as long as short
Deribit SPCX_USDC-PERPETUALshort	+0.0209%	1h	152.58	−0.039%	$70K	$1.1M	10x
Nado SPCX-PERP	+0.0217%	1h	152.52	−0.080%	$625K	$871K	20x	as long as short
Arcus SPCX-USD	+0.0227%	1h	152.56	−0.052%	$106K	$296K	5x	as long as short
Aster SPCXUSD1	+0.0244%	8h	152.69	+0.033%	$19.0M	$21.8M	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	152.71	+0.046%	$741K	$947K	10x	as long as short
Phoenix SPCX	+0.0314%	1h	152.65	+0.007%	$445K	$196K	15x	as long as short
Bitget SPCXUSDT	+0.0315%	8h	152.66	+0.013%	$31.0M	$66.5M	75x	as long as short
edgeX SPCXUSDC	+0.0516%	4h	152.65	+0.004%	$1.7M	$893K	20x	as long as short
RISEx SPCX/USDC	+0.0543%	1h	152.67	+0.021%	$402K	$541K	20x	as long as short