Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0418%/8h= −45.8% APRpaid last 24h −0.040%

Price spread now: Bitget against Deribit+0.020%48s7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$350.345% of the position

Long on Deribit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.098%−$10 on $10k

Price spread, last 3 days (all we have)−0.029%−$3 · spread now +0.020%, 7d avg +0.014%

Together, before fees−0.127%−$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: −$13 a day on $10k at the current rate. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid -0.098% in total (about -7.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SPCX_USDC-PERPETUAL	152.89	0.0732	pay 0.0092% / 1h	0m 23s	$71K	$1.0M	10x
Short	Bitget SPCXUSDT	152.92	0.0314	get 0.0314% / 8h	0m 23s	$31.2M	$67.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Deribit. 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 DeribitbpFee BitgetbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$87.79
Price spread: +0.020% → +0.014%: $0.53
Slippage, 4 orders: −$15.54
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$121.8
Costs to cover: 0.345%
Break-even: never at this rate

Slippage from Deribit: live order book, 4 min ago; Bitget: live order book, 9 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 Deribit live order book, 4 min ago	6.87 bp	10.4 bp −$10	14.0 bp −$140	doesn't fit	doesn't fit
Sell Bitget live order book, 9 min ago	0.65 bp	6.7 bp −$7	8.0 bp −$80	20.7 bp −$2,067	28.7 bp −$14.4K

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 −0.0290% / S +0.0501%	1h	152.87	−0.016%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.89	0.000%	$96.6M	$31.5M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.836%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.81	−0.052%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.12	+0.150%	$8K	$971K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.88	−0.007%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0030%	1h	152.83	−0.039%	$7K	$8K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.83	−0.039%	$2.5M	$7.6M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+2.852%	$9K	$27K	5.5x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.85	−0.026%	$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	152.89	0.000%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.86	−0.020%	$489K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.87	−0.013%	$1.7M	$79K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.82	−0.046%	$534K	$414K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.75	−0.092%	$3.2M	$2.8M	10x	as long as short
QFEX SPCX-USD	+0.0052%	1h	152.87	−0.013%	$1.2M	$7.7M	10x	as long as short
edgeX SPCXUSDC	+0.0062%	4h	152.91	+0.011%	$1.7M	$894K	20x	as long as short
BloFin SPCX-USDT	+0.0088%	8h	152.92	+0.020%	$1.9M	$1.4M	75x	as long as short
Pacifica SPCX	+0.0100%	1h	152.80	−0.059%	$173K	$130K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.85	−0.026%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.85	−0.026%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.92	+0.020%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.92	+0.018%	$89	—	10x	as long as short
Paradex SPCX-USD-PERP	+0.0106%	8h	152.93	+0.028%	$101	—	5x	as long as short
Lighter SPCX	+0.0112%	1h	152.86	−0.020%	$1.6M	$7.5M	20x	as long as short
Bybit SPCXUSDT	+0.0157%	8h	152.91	+0.013%	$30.7M	$42.9M	100x	as long as short
Bullet SPCX-USD	+0.0170%	1h	152.91	+0.011%	$12K	$187K	10x	as long as short
Variational Omni SPCX	+0.0189%	8h	152.87	−0.010%	$6.1M	$3.5M	—	as long as short
OKX SPCX-USDT-SWAP	+0.0200%	8h	152.90	+0.007%	$38.9M	$169.3M	75x	as long as short
Binance SPCXUSDT	+0.0208%	8h	152.89	+0.001%	$253.0M	$1.39B	75x	as long as short
Extended SPCX-USD	+0.0208%	1h	152.87	−0.013%	$734K	$3.6M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0250%	1h	152.86	−0.020%	$143.4M	$119.5M	20x	as long as short
Phoenix SPCX	+0.0261%	1h	152.90	+0.007%	$445K	$269K	15x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0280%	1h	152.97	+0.052%	$733K	$970K	10x	as long as short
Nado SPCX-PERP	+0.0286%	1h	152.78	−0.071%	$600K	$884K	20x	as long as short
Bitget SPCXUSDTshort	+0.0314%	8h	152.92	+0.020%	$31.2M	$67.1M	75x
Aster SPCXUSD1	+0.0316%	8h	153.00	+0.072%	$19.0M	$21.3M	20x	as long as short
RISEx SPCX/USDC	+0.0339%	1h	152.96	+0.043%	$401K	$540K	20x	as long as short
Deribit SPCX_USDC-PERPETUALlong	+0.0732%	1h	152.89	long leg	$71K	$1.0M	10x