Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0123%/8h= −13.4% APRpaid last 24h −0.047%

Price spread now: Bybit against Coinbase International−0.039%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$280.283% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.274%−$27 on $10k

Price spread, last 3 days (all we have)+0.065%+$7 · spread now −0.039%, 7d avg −0.004%

Together, before fees−0.209%−$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bybit is 0.035% cheaper against Coinbase International than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.004%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SPCX-PERP-INTX	152.97	0.0280	pay 0.0035% / 1h	1m 01s	$733K	$970K	10x
Short	Bybit SPCXUSDT	152.91	0.0157	get 0.0157% / 8h	1m 01s	$30.7M	$42.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.039%Rate

Funding earned: −$25.78
Price spread: −0.039% → −0.004%: −$3.5
Slippage, 4 orders: −$7.32
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$57.6
Costs to cover: 0.283%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 12 min ago; Bybit: live order book, 8 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, 12 min ago	1.96 bp	7.0 bp −$7	11.2 bp −$112	doesn't fit	doesn't fit
Sell Bybit live order book, 8 min ago	0.33 bp	6.7 bp −$7	9.5 bp −$95	28.0 bp −$2,805	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 −0.0289% / S +0.0500%	1h	152.85	−0.075%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.88	−0.059%	$96.6M	$31.5M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.777%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.81	−0.105%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.12	+0.098%	$8K	$971K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.88	−0.059%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0030%	1h	152.83	−0.091%	$7K	$8K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.82	−0.098%	$2.5M	$7.6M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+2.798%	$9K	$27K	5.5x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.83	−0.092%	$105K	$297K	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	152.86	−0.072%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.86	−0.072%	$489K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.87	−0.065%	$1.7M	$79K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.82	−0.098%	$534K	$414K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.75	−0.144%	$3.2M	$2.8M	10x	as long as short
QFEX SPCX-USD	+0.0052%	1h	152.87	−0.065%	$1.2M	$7.7M	10x	as long as short
edgeX SPCXUSDC	+0.0062%	4h	152.91	−0.042%	$1.7M	$894K	20x	as long as short
BloFin SPCX-USDT	+0.0088%	8h	152.92	−0.033%	$1.9M	$1.4M	75x	as long as short
Pacifica SPCX	+0.0100%	1h	152.81	−0.105%	$173K	$130K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.83	−0.092%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.85	−0.078%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.92	−0.033%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.92	−0.034%	$89	—	10x	as long as short
Paradex SPCX-USD-PERP	+0.0105%	8h	152.91	−0.042%	$101	—	5x	as long as short
Lighter SPCX	+0.0112%	1h	152.86	−0.072%	$1.6M	$7.5M	20x	as long as short
Bybit SPCXUSDTshort	+0.0157%	8h	152.91	−0.039%	$30.7M	$42.8M	100x
Bullet SPCX-USD	+0.0170%	1h	152.89	−0.051%	$12K	$187K	10x	as long as short
Variational Omni SPCX	+0.0189%	8h	152.87	−0.063%	$6.1M	$3.5M	—	as long as short
OKX SPCX-USDT-SWAP	+0.0200%	8h	152.91	−0.039%	$38.9M	$169.3M	75x	as long as short
Binance SPCXUSDT	+0.0208%	8h	152.89	−0.052%	$253.0M	$1.39B	75x	as long as short
Extended SPCX-USD	+0.0208%	1h	152.86	−0.072%	$734K	$3.6M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0251%	1h	152.85	−0.078%	$143.4M	$119.5M	20x	as long as short
Phoenix SPCX	+0.0261%	1h	152.90	−0.046%	$445K	$269K	15x	as long as short
Coinbase International SPCX-PERP-INTXlong	+0.0280%	1h	152.97	long leg	$733K	$970K	10x
Nado SPCX-PERP	+0.0285%	1h	152.74	−0.150%	$599K	$884K	20x	as long as short
Bitget SPCXUSDT	+0.0314%	8h	152.91	−0.039%	$31.2M	$67.1M	75x	as long as short
Aster SPCXUSD1	+0.0314%	8h	152.97	0.000%	$19.0M	$21.3M	20x	as long as short
RISEx SPCX/USDC	+0.0339%	1h	152.95	−0.013%	$401K	$540K	20x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0732%	1h	152.89	−0.052%	$71K	$1.0M	10x	as long as short