Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0104%/8h= −11.3% APRpaid last 24h +0.009%

Price spread now: Injective against Bybit+3.007%78s7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Injective is 3.007% dearer against Bybit than usual: you sell high and buy low (spread +3.007% now, against zero (this spread has no 7-day history yet)): +$301 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3 months. Mind the row above: over the last 7 days funding on this pair paid +0.054%, so the current rate has only just turned against you. The two prices were read 78 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	152.66	0.0137	pay 0.0137% / 8h	1h 30m	$30.8M	$42.3M	100x
Short	Injective SPCX/USDC PERP	157.25	0.0033	get 0.0004% / 1h	30m 00s	$9K	$27K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +3.007%Rate

Funding earned: −$21.75
Price spread: +3.007% → 0.000%: $300.67
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $267.89
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 4 min ago; Injective: 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	7.9 bp −$8	9.6 bp −$96	38.5 bp −$3,853	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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]	L −0.0272% / S +0.0488%	1h	152.63	−0.023%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.62	−0.026%	$96.5M	$30.9M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.51	+13.002%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.68	+0.013%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.84	+0.118%	$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	+0.0022%	1h	152.59	−0.045%	$7K	$10K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.57	−0.059%	$1.6M	$7.2M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.57	−0.059%	$2.4M	$7.5M	20x	as long as short
Injective SPCX/USDC PERPshort	+0.0033%	1h	157.25	+3.007%	$9K	$27K	5.5x

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	152.62	−0.026%	—	$1.1M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.63	−0.020%	$489K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.63	−0.020%	$1.7M	$79K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.65	−0.007%	$539K	$404K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.51	−0.098%	$3.2M	$2.6M	10x	as long as short
Bullet SPCX-USD	+0.0064%	1h	152.64	−0.012%	$11K	$189K	10x	as long as short
QFEX SPCX-USD	+0.0066%	1h	152.63	−0.020%	$1.2M	$7.6M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0070%	8h	152.63	−0.020%	$101	—	5x	as long as short
BloFin SPCX-USDT	+0.0079%	8h	152.67	+0.007%	$1.9M	$1.4M	75x	as long as short
Pacifica SPCX	+0.0100%	1h	152.57	−0.059%	$175K	$133K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.52	−0.092%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.57	−0.059%	$58K	$270K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.57	−0.059%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.65	−0.005%	$89	—	10x	as long as short
tradeXYZ xyz:SPCX	+0.0120%	1h	152.63	−0.020%	$130.0M	$107.5M	20x	as long as short
Bybit SPCXUSDTlong	+0.0137%	8h	152.66	long leg	$30.8M	$42.3M	100x
OKX SPCX-USDT-SWAP	+0.0179%	8h	152.64	−0.013%	$38.9M	$168.4M	75x	as long as short
Variational Omni SPCX	+0.0180%	8h	152.64	−0.016%	$6.0M	$3.9M	—	as long as short
Binance SPCXUSDT	+0.0199%	8h	152.64	−0.012%	$255.7M	$1.38B	75x	as long as short
Extended SPCX-USD	+0.0200%	1h	152.61	−0.030%	$715K	$3.6M	10x	as long as short
Nado SPCX-PERP	+0.0215%	1h	152.54	−0.078%	$625K	$871K	20x	as long as short
Arcus SPCX-USD	+0.0227%	1h	152.57	−0.059%	$106K	$296K	5x	as long as short
Aster SPCXUSD1	+0.0244%	8h	152.72	+0.037%	$19.0M	$21.8M	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	152.71	+0.033%	$741K	$947K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0274%	1h	152.61	−0.033%	$71K	$1.1M	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	0.000%	$31.0M	$66.5M	75x	as long as short
edgeX SPCXUSDC	+0.0516%	4h	152.65	−0.009%	$1.7M	$893K	20x	as long as short
RISEx SPCX/USDC	+0.0543%	1h	152.70	+0.026%	$402K	$541K	20x	as long as short