SPCX

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0314%/8h= +34.4% APRnext payment +$0.39 per $10,000 · paid last 24h −0.009%

Price spread now: Phoenix against Deribit+0.013%7-day average +0.003% · 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−$27as in the Price arb table

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

Long on Deribit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.036%−$4 on $10k

Price spread, last 3 days (all we have)−0.045%−$4 · spread now +0.013%, 7d avg +0.003%

Together, before fees−0.081%−$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.003%, so right now this pair is about funding alone: +$9 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid -0.036% in total (about -2.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.39 per $10,000. 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	153.09	0	get 0.0000% / 1h	6m 39s	$72K	$1.1M	10x
Short	Phoenix SPCX	153.11	0.0314	get 0.0039% / 1h	6m 39s	$445K	$271K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.013%Rate

Funding earned: $65.93
Price spread: +0.013% → +0.003%: $0.97
Slippage, 4 orders: −$14.3
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $38.6
Costs to cover: 0.283%
Break-even: 2.9 days

Slippage from Deribit: live order book, 2 min ago; Phoenix: live order book, 65 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, 2 min ago	0.33 bp	3.8 bp −$4	6.4 bp −$64	doesn't fit	doesn't fit
Sell Phoenix live order book, 65 min ago	0.33 bp	5.1 bp −$5	15.6 bp −$156	doesn't fit	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 −0.0327% / S +0.0527%	1h	153.10	+0.010%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.12	+0.020%	$96.4M	$31.3M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.692%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	153.05	−0.026%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.34	+0.163%	$8K	$954K	10x	as long as short
Deribit SPCX_USDC-PERPETUALlong	0.0000%	1h	153.09	long leg	$72K	$1.1M	10x
HTX SPCX-USDT	0.0000%	8h	153.17	+0.052%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0026%	1h	153.00	−0.060%	$8K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	153.08	−0.007%	$1.6M	$7.4M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	153.06	−0.020%	$2.5M	$7.5M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+2.717%	$9K	$27K	5.5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.18	+0.059%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	153.11	+0.013%	$489K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.11	+0.013%	$1.7M	$86K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	153.12	+0.020%	$534K	$407K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.97	−0.078%	$3.2M	$2.6M	10x	as long as short
QFEX SPCX-USD	+0.0063%	1h	153.09	0.000%	$1.2M	$7.2M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0092%	8h	153.14	+0.033%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	153.05	−0.026%	$173K	$129K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	153.01	−0.052%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.04	−0.033%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.16	+0.046%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.14	+0.034%	$89	—	10x	as long as short
BloFin SPCX-USDT	+0.0123%	8h	153.15	+0.039%	$1.9M	$1.4M	75x	as long as short
Bybit SPCXUSDT	+0.0133%	8h	153.16	+0.046%	$30.9M	$42.8M	100x	as long as short
Arcus SPCX-USD	+0.0194%	1h	153.06	−0.020%	$105K	$297K	5x	as long as short
tradeXYZ xyz:SPCX	+0.0207%	1h	153.10	+0.007%	$143.1M	$119.2M	20x	as long as short
OKX SPCX-USDT-SWAP	+0.0215%	8h	153.16	+0.046%	$39.3M	$169.1M	75x	as long as short
Bullet SPCX-USD	+0.0216%	1h	153.14	+0.033%	$11K	$189K	10x	as long as short
Variational Omni SPCX	+0.0229%	8h	153.08	−0.007%	$6.0M	$3.5M	—	as long as short
Nado SPCX-PERP	+0.0235%	1h	153.07	−0.014%	$621K	$851K	20x	as long as short
Extended SPCX-USD	+0.0240%	1h	153.10	+0.007%	$734K	$3.9M	10x	as long as short
Binance SPCXUSDT	+0.0243%	8h	153.14	+0.029%	$252.8M	$1.38B	75x	as long as short
Bitget SPCXUSDT	+0.0293%	8h	153.17	+0.052%	$31.7M	$66.7M	75x	as long as short
Phoenix SPCXshort	+0.0314%	1h	153.11	+0.013%	$445K	$271K	15x
Coinbase International SPCX-PERP-INTX	+0.0328%	1h	153.14	+0.033%	$728K	$986K	10x	as long as short
Aster SPCXUSD1	+0.0388%	8h	153.14	+0.033%	$19.0M	$18.5M	20x	as long as short
RISEx SPCX/USDC	+0.0409%	1h	153.17	+0.052%	$401K	$535K	20x	as long as short
edgeX SPCXUSDC	+0.0902%	4h	153.10	+0.006%	$1.7M	$892K	20x	as long as short