Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.043%

Price spread now: Bybit against Deribit+0.039%7-day average −0.004% · 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−$29as in the Price arb table

costs, in and out, $10k−$340.335% of the position

Long on Deribit Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.104%−$10 on $10k

Price spread, last 3 days (all we have)−0.059%−$6 · spread now +0.039%, 7d avg −0.004%

Together, before fees−0.163%−$16 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.044% dearer against Deribit than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SPCX_USDC-PERPETUAL	152.58	0.0143	pay 0.0018% / 1h	24m 26s	$70K	$1.1M	10x
Short	Bybit SPCXUSDT	152.64	0.0143	get 0.0143% / 8h	2h 24m	$30.7M	$42.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.039%Rate

Funding earned: $0.01
Price spread: +0.039% → −0.004%: $4.38
Slippage, 4 orders: −$15.52
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$29.14
Costs to cover: 0.335%
Break-even: 32385.4 days

Slippage from Deribit: live order book, 5 min ago; Bybit: 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 Deribit live order book, 5 min ago	4.92 bp	8.4 bp −$8	12.4 bp −$124	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.33 bp	8.3 bp −$8	13.4 bp −$134	25.7 bp −$2,566	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 −0.0271% / S +0.0488%	1h	152.57	−0.003%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.63	+0.033%	$96.4M	$31.0M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.50	+13.057%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.69	+0.072%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.84	+0.170%	$8K	$990K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.61	+0.020%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0025%	1h	152.54	−0.028%	$7K	$10K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.57	−0.007%	$2.4M	$7.7M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+3.061%	$9K	$27K	5.5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.62	+0.026%	—	$1.1M	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps SPCX-USD	+0.0050%	1h	152.58	0.000%	$489K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.63	+0.033%	$1.7M	$79K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.63	+0.033%	$541K	$402K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.51	−0.046%	$3.1M	$2.6M	10x	as long as short
QFEX SPCX-USD	+0.0057%	1h	152.64	+0.039%	$1.2M	$7.6M	10x	as long as short
BloFin SPCX-USDT	+0.0077%	8h	152.71	+0.085%	$1.9M	$1.4M	75x	as long as short
Lighter SPCX	+0.0088%	1h	152.59	+0.007%	$1.6M	$7.3M	20x	as long as short
Pacifica SPCX	+0.0100%	1h	152.59	+0.007%	$175K	$135K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.50	−0.052%	$13.0M	$5.2M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.53	−0.033%	$58K	$270K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.68	+0.066%	$15K	$7K	10x	as long as short
Paradex SPCX-USD-PERP	+0.0103%	8h	152.65	+0.043%	$101	—	5x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.66	+0.052%	$89	—	10x	as long as short
Deribit SPCX_USDC-PERPETUALlong	+0.0143%	1h	152.58	long leg	$70K	$1.1M	10x
Bybit SPCXUSDTshort	+0.0143%	8h	152.64	+0.039%	$30.7M	$42.3M	100x
OKX SPCX-USDT-SWAP	+0.0166%	8h	152.65	+0.046%	$39.0M	$168.1M	75x	as long as short
Variational Omni SPCX	+0.0169%	8h	152.64	+0.039%	$6.1M	$4.3M	—	as long as short
tradeXYZ xyz:SPCX	+0.0187%	1h	152.57	−0.007%	$129.9M	$107.2M	20x	as long as short
Binance SPCXUSDT	+0.0198%	8h	152.65	+0.046%	$256.2M	$1.38B	75x	as long as short
Extended SPCX-USD	+0.0200%	1h	152.63	+0.036%	$715K	$3.6M	10x	as long as short
Bullet SPCX-USD	+0.0206%	1h	152.64	+0.043%	$12K	$190K	10x	as long as short
Aster SPCXUSD1	+0.0227%	8h	152.70	+0.079%	$19.0M	$21.3M	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0232%	1h	152.16	−0.275%	$739K	$963K	10x	as long as short
Phoenix SPCX	+0.0262%	1h	152.61	+0.020%	$370K	$191K	15x	as long as short
Arcus SPCX-USD	+0.0293%	1h	152.59	+0.007%	$106K	$296K	5x	as long as short
Nado SPCX-PERP	+0.0313%	1h	152.49	−0.061%	$624K	$878K	20x	as long as short
Bitget SPCXUSDT	+0.0334%	8h	152.64	+0.039%	$31.3M	$66.3M	75x	as long as short
RISEx SPCX/USDC	+0.0462%	1h	152.69	+0.072%	$383K	$540K	20x	as long as short
edgeX SPCXUSDC	+0.0768%	4h	152.65	+0.047%	$1.7M	$892K	20x	as long as short