Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0625%/8h= −68.5% APRpaid last 24h −0.122%

Price spread now: GMX against Bybit−0.023%51s7-day average — · you buy dearer than you sell

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

Long on Bybit Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and GMX is 0.023% cheaper against Bybit than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

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 19m	$30.8M	$42.4M	100x
Short	GMX SPCX/USD [ETH-USDC]	152.56	L −0.0272% / S +0.0488%	pay 0.0061% / 1h	19m 30s	$88K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.023%Rate

Funding earned: −$131.35
Price spread: −0.023% → 0.000%: −$2.29
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: −$156.64
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 4 min ago; GMX: no order-book sample. 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 Bybit live order book, 4 min ago	0.33 bp	6.7 bp −$7	9.5 bp −$95	60.2 bp −$6,022	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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]short	L −0.0272% / S +0.0488%	1h	152.56	−0.023%	$88K	—	20x
Gate SPCX_USDT	0.0000%	8h	152.58	−0.013%	$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	152.81	+0.138%	$8K	$978K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.59	−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	152.55	−0.033%	—	$1.1M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.56	−0.026%	$488K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.57	−0.020%	$1.7M	$79K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.60	0.000%	$538K	$403K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.44	−0.105%	$3.2M	$2.6M	10x	as long as short
QFEX SPCX-USD	+0.0066%	1h	152.58	−0.013%	$1.2M	$7.6M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0067%	8h	152.59	−0.008%	$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-USD	+0.0091%	1h	152.59	−0.007%	$11K	$188K	10x	as long as short
Pacifica SPCX	+0.0100%	1h	152.51	−0.059%	$175K	$133K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.51	−0.059%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.53	−0.046%	$58K	$270K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.62	+0.013%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.62	+0.010%	$89	—	10x	as long as short
Bybit SPCXUSDTlong	+0.0137%	8h	152.60	long leg	$30.8M	$42.4M	100x
tradeXYZ xyz:SPCX	+0.0145%	1h	152.57	−0.020%	$130.1M	$107.5M	20x	as long as short
Variational Omni SPCX	+0.0175%	8h	152.60	−0.003%	$6.0M	$3.9M	—	as long as short
OKX SPCX-USDT-SWAP	+0.0181%	8h	152.62	+0.013%	$38.9M	$168.4M	75x	as long as short
Extended SPCX-USD	+0.0192%	1h	152.57	−0.017%	$739K	$3.6M	10x	as long as short
Binance SPCXUSDT	+0.0196%	8h	152.60	0.000%	$255.4M	$1.38B	75x	as long as short
Arcus SPCX-USD	+0.0227%	1h	152.53	−0.046%	$106K	$296K	5x	as long as short
Nado SPCX-PERP	+0.0236%	1h	152.48	−0.076%	$624K	$872K	20x	as long as short
Aster SPCXUSD1	+0.0246%	8h	152.67	+0.045%	$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
Deribit SPCX_USDC-PERPETUAL	+0.0275%	1h	152.56	−0.026%	$70K	$1.1M	10x	as long as short
Phoenix SPCX	+0.0314%	1h	152.60	0.000%	$445K	$196K	15x	as long as short
Bitget SPCXUSDT	+0.0316%	8h	152.60	0.000%	$31.0M	$66.5M	75x	as long as short
edgeX SPCXUSDC	+0.0386%	4h	152.60	−0.003%	$1.7M	$893K	20x	as long as short
RISEx SPCX/USDC	+0.0543%	1h	152.65	+0.029%	$402K	$548K	20x	as long as short