Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0148%/8h= −16.2% APRpaid last 24h −0.026%

Price spread now: Orderly against Coinbase International+0.033%7-day average — · you sell dearer than you buy

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

Long on Coinbase International Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread pays, funding is against you. Orderly is 0.033% dearer against Coinbase International than usual: you sell high and buy low (spread +0.033% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SPCX-PERP-INTX	152.90	0.0248	pay 0.0031% / 1h	51m 30s	$741K	$939K	10x
Short	Orderly PERP_SPCX_USDC_mythos	152.95	0.0100	get 0.0100% / 8h	3h 51m	$15K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.033%Rate

Funding earned: −$31.08
Price spread: +0.033% → 0.000%: $3.27
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$43.81
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 2 min ago; Orderly: 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 Coinbase International live order book, 2 min ago	2.94 bp	8.2 bp −$8	11.6 bp −$116	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 −0.0214% / S +0.0456%	1h	152.90	−0.003%	$90K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.90	0.000%	$96.1M	$31.1M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.96	+0.039%	$31.8M	$65.3M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.836%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.93	+0.020%	$301K	$2.9M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.17	+0.177%	$7K	$935K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.98	+0.052%	$1.3M	$1.7M	75x	as long as short
Bybit SPCXUSDT	+0.0005%	8h	152.94	+0.026%	$30.7M	$42.6M	100x	as long as short
Aftermath Perps SPCXUSD	+0.0030%	1h	152.93	+0.021%	$7K	$8K	10x	as long as short
BloFin SPCX-USDT	+0.0031%	8h	152.94	+0.026%	$1.9M	$1.3M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SPCX	+0.0032%	1h	152.85	−0.033%	$2.5M	$7.2M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.86	−0.026%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.86	−0.026%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.88	−0.013%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.90	0.000%	$1.7M	$95K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.92	+0.013%	$532K	$390K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.80	−0.065%	$3.2M	$2.4M	10x	as long as short
QFEX SPCX-USD	+0.0050%	1h	152.90	0.000%	$1.2M	$5.9M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0092%	8h	152.93	+0.020%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.84	−0.039%	$169K	$129K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.84	−0.039%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.85	−0.033%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythosshort	+0.0100%	8h	152.95	+0.033%	$15K	$7K	10x
Aevo SPCX-PERP	+0.0104%	1h	152.92	+0.011%	$89	—	10x	as long as short
Lighter SPCX	+0.0136%	1h	152.88	−0.013%	$1.6M	$7.3M	20x	as long as short
Variational Omni SPCX	+0.0136%	8h	152.96	+0.038%	$6.0M	$2.9M	—	as long as short
Binance SPCXUSDT	+0.0152%	8h	152.93	+0.021%	$248.1M	$1.36B	75x	as long as short
Extended SPCX-USD	+0.0152%	1h	152.89	−0.008%	$738K	$3.8M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0155%	8h	152.94	+0.026%	$39.6M	$166.2M	75x	as long as short
RISEx SPCX/USDC	+0.0217%	1h	152.96	+0.039%	$409K	$517K	20x	as long as short
Coinbase International SPCX-PERP-INTXlong	+0.0248%	1h	152.90	long leg	$741K	$939K	10x
Nado SPCX-PERP	+0.0255%	1h	152.80	−0.068%	$615K	$813K	20x	as long as short
Phoenix SPCX	+0.0261%	1h	152.95	+0.033%	$445K	$264K	15x	as long as short
Bullet SPCX-USD	+0.0280%	1h	152.92	+0.016%	$12K	$193K	10x	as long as short
tradeXYZ xyz:SPCX	+0.0292%	1h	152.89	−0.007%	$141.4M	$119.1M	20x	as long as short
Aster SPCXUSD1	+0.0423%	8h	153.03	+0.085%	$19.0M	$21.7M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.32	+0.275%	$9K	$28K	5.5x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0470%	1h	152.88	−0.013%	$84K	$1.2M	10x	as long as short
edgeX SPCXUSDC	+0.0592%	4h	152.91	+0.006%	$1.7M	$892K	20x	as long as short