Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0082%/8h= −8.9% APRpaid last 24h −0.033%

Price spread now: OKX against Coinbase International+0.151%7-day average +0.001% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$270.275% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.281%−$28 on $10k

Price spread, last 4 days (all we have)−0.315%−$31 · spread now +0.151%, 7d avg +0.001%

Together, before fees−0.596%−$60 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.149% dearer against Coinbase International than usual: you sell high and buy low (spread +0.151% now, against its 7-day average of +0.001%): +$15 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 6.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SPCX-PERP-INTX	152.67	0.0184	pay 0.0023% / 1h	58m 04s	$687K	$1.0M	10x
Short	OKX SPCX-USDT-SWAP	152.90	0.0102	get 0.0102% / 8h	6h 58m	$39.4M	$168.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.151%Rate

Funding earned: −$17.13
Price spread: +0.151% → +0.001%: $14.93
Slippage, 4 orders: −$7.48
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$29.68
Costs to cover: 0.275%
Break-even: never at this rate

Slippage from Coinbase International: live order book, just now; OKX: live order book, 6 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, just now	3.27 bp	8.3 bp −$8	12.2 bp −$122	doesn't fit	doesn't fit
Sell OKX live order book, 6 min ago	0.33 bp	5.4 bp −$5	7.5 bp −$75	14.2 bp −$1,419	doesn't fit

SPCX on 38 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	152.75	+0.049%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0024%	8h	152.76	+0.059%	$1.9M	$1.2M	75x	as long as short
Nado SPCX-PERP	−0.0016%	1h	152.82	+0.096%	$635K	$810K	20x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.83	+0.105%	$30.4M	$43.3M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.83	+0.105%	$96.1M	$31.8M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.88	+0.138%	$31.0M	$66.8M	75x	as long as short
StandX SPCX-USD	0.0000%	1h	152.66	−0.007%	$303K	$2.6M	20x	as long as short
Bullet SPCX-USD	0.0000%	1h	152.88	+0.136%	$11K	$191K	10x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.12	+0.295%	$8K	$841K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	0.0000%	1h	152.86	+0.124%	$82K	$1.4M	10x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX SPCX-USDT	0.0000%	8h	152.90	+0.151%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0014%	1h	152.68	+0.004%	$7K	$7K	10x	as long as short
QFEX SPCX-USD	+0.0031%	1h	152.83	+0.105%	$1.2M	$5.4M	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.82	+0.098%	$1.6M	$7.4M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.82	+0.098%	$2.5M	$7.3M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.77	+0.066%	$103K	$295K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.89	+0.144%	—	$1.3M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.79	+0.079%	$129.7M	$130.3M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.88	+0.138%	$490K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.82	+0.098%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.83	+0.105%	$531K	$363K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.57	−0.066%	$3.1M	$2.2M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0056%	8h	152.86	+0.127%	$101	—	5x	as long as short
RISEx SPCX/USDC	+0.0068%	1h	152.88	+0.137%	$382K	$507K	20x	as long as short
Variational Omni SPCX	+0.0081%	8h	152.78	+0.070%	$5.9M	$2.7M	—	as long as short
Binance SPCXUSDT	+0.0095%	8h	152.82	+0.098%	$252.3M	$1.38B	75x	as long as short
Extended SPCX-USD	+0.0096%	1h	152.78	+0.071%	$723K	$5.4M	10x	as long as short
Pacifica SPCX	+0.0100%	1h	152.83	+0.105%	$169K	$117K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.77	+0.066%	$13.0M	$5.9M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.84	+0.111%	$58K	$270K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.87	+0.131%	$15K	$7K	10x	as long as short
OKX SPCX-USDT-SWAPshort	+0.0102%	8h	152.90	+0.151%	$39.4M	$168.9M	75x
Aevo SPCX-PERP	+0.0104%	1h	152.83	+0.105%	$89	—	10x	as long as short
Coinbase International SPCX-PERP-INTXlong	+0.0184%	1h	152.67	long leg	$687K	$1.0M	10x
Phoenix SPCX	+0.0210%	1h	152.77	+0.066%	$449K	$267K	15x	as long as short
Aster SPCXUSD1	+0.0397%	8h	152.98	+0.205%	$19.0M	$30.7M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.78	+0.072%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0488%	4h	152.78	+0.075%	$1.7M	$891K	20x	as long as short