Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.026%

Price spread now: Bitget against Coinbase International−0.026%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$310.310% of the position

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.234%−$23 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now −0.026%, 7d avg +0.012%

Together, before fees−0.194%−$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bitget is 0.038% cheaper against Coinbase International than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.012%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SPCX-PERP-INTX	152.34	0.0240	pay 0.0030% / 1h	0m 06s	$728K	$930K	10x
Short	Bitget SPCXUSDT	152.30	0	get 0.0000% / 8h	0m 06s	$31.2M	$66.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Coinbase International. 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 Coinbase InternationalbpFee BitgetbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$50.4
Price spread: −0.026% → +0.012%: −$3.78
Slippage, 4 orders: −$9.03
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$85.21
Costs to cover: 0.310%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 38 min ago; Bitget: live order book, 4 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 Coinbase International live order book, 38 min ago	2.95 bp	8.1 bp −$8	10.7 bp −$107	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	0.33 bp	6.7 bp −$7	8.7 bp −$87	24.7 bp −$2,469	35.5 bp −$17.8K

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 −0.0187% / S +0.0435%	1h	152.18	−0.108%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0004%	8h	152.31	−0.020%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.27	−0.046%	$30.5M	$42.7M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.25	−0.059%	$96.2M	$32.0M	100x	as long as short
Bitget SPCXUSDTshort	0.0000%	8h	152.30	−0.026%	$31.2M	$66.2M	75x
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+13.247%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.34	0.000%	$300K	$2.6M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.57	+0.151%	$8K	$888K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.37	+0.020%	$1.3M	$1.8M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0021%	1h	152.21	−0.086%	$7K	$8K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SPCX	+0.0032%	1h	152.21	−0.085%	$1.6M	$7.4M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.20	−0.092%	$2.5M	$7.3M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.23	−0.072%	$102K	$298K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.26	−0.053%	—	$1.2M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.17	−0.112%	$129.6M	$129.4M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.22	−0.079%	$488K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.24	−0.066%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.28	−0.039%	$530K	$370K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.17	−0.112%	$3.2M	$2.2M	10x	as long as short
QFEX SPCX-USD	+0.0070%	1h	152.23	−0.072%	$1.2M	$5.5M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0071%	8h	152.22	−0.079%	$100	—	5x	as long as short
Variational Omni SPCX	+0.0098%	8h	152.27	−0.043%	$5.9M	$2.8M	—	as long as short
Pacifica SPCX	+0.0100%	1h	152.17	−0.112%	$168K	$119K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.18	−0.105%	$13.0M	$5.6M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.36	+0.013%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.26	−0.053%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.25	−0.061%	$88	—	10x	as long as short
Bullet SPCX-USD	+0.0112%	1h	152.25	−0.059%	$11K	$192K	10x	as long as short
Extended SPCX-USD	+0.0112%	1h	152.25	−0.061%	$723K	$5.3M	10x	as long as short
Binance SPCXUSDT	+0.0115%	8h	152.28	−0.039%	$253.2M	$1.36B	75x	as long as short
OKX SPCX-USDT-SWAP	+0.0132%	8h	152.29	−0.033%	$39.7M	$166.6M	75x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0144%	1h	152.21	−0.085%	$89K	$1.4M	10x	as long as short
Nado SPCX-PERP	+0.0149%	1h	152.21	−0.088%	$631K	$803K	20x	as long as short
Coinbase International SPCX-PERP-INTXlong	+0.0240%	1h	152.34	long leg	$728K	$930K	10x
Phoenix SPCX	+0.0368%	1h	152.32	−0.013%	$444K	$266K	15x	as long as short
Aster SPCXUSD1	+0.0385%	8h	152.38	+0.025%	$18.9M	$30.6M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.70	+0.236%	$9K	$28K	5.5x	as long as short
RISEx SPCX/USDC	+0.0445%	1h	152.27	−0.044%	$381K	$505K	20x	as long as short
edgeX SPCXUSDC	+0.0952%	4h	152.33	−0.006%	$1.7M	$891K	20x	as long as short