Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0580%/8h= −63.5% APRpaid last 24h −0.041%

Price spread now: Variational Omni against Deribit+0.025%7-day average +0.007% · you sell dearer than you buy

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

Long on Deribit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.102%−$10 on $10k

Price spread, last 4 days (all we have)+0.065%+$6 · spread now +0.025%, 7d avg +0.007%

Together, before fees−0.037%+ Points / potential airdropVariational Omni: Active · farm board−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.007%, so right now this pair is about funding alone: −$17 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.102% in total (about -10.3% 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	152.34	0.0670	pay 0.0084% / 1h	33m 45s	$89K	$1.3M	10x
Short	Variational Omni SPCX	152.38	0.0090	get 0.0090% / 8h	1h 33m	$5.9M	$2.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.025%Rate

Funding earned: −$121.86
Price spread: +0.025% → +0.007%: $1.77
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$127.09
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, just now; Variational Omni: RFQ quote, just now. 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 Deribit live order book, just now	3.94 bp	9.4 bp −$9	11.2 bp −$112	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, just now	2.33 bp	doesn't fit	2.5 bp −$25	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 −0.0187% / S +0.0435%	1h	152.31	−0.023%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0011%	8h	152.40	+0.039%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.42	+0.053%	$30.6M	$42.7M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.36	+0.013%	$96.1M	$31.9M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.42	+0.053%	$31.2M	$66.0M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+13.249%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.38	+0.026%	$300K	$2.7M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.67	+0.217%	$8K	$895K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.49	+0.098%	$1.3M	$1.8M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0025%	1h	152.34	+0.002%	$7K	$8K	10x	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	152.34	0.000%	$2.5M	$7.3M	20x	as long as short
QFEX SPCX-USD	+0.0038%	1h	152.36	+0.013%	$1.2M	$5.5M	10x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.33	−0.007%	$103K	$299K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.31	−0.020%	—	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.37	+0.020%	$1.7M	$97K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.38	+0.026%	$531K	$380K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.25	−0.059%	$3.2M	$2.2M	10x	as long as short
RISEx SPCX/USDC	+0.0072%	1h	152.44	+0.069%	$408K	$498K	20x	as long as short
Variational Omni SPCXshort	+0.0090%	8h	152.38	+0.025%	$5.9M	$2.8M	—
Paradex SPCX-USD-PERP	+0.0095%	8h	152.44	+0.065%	$101	—	5x	as long as short
tradeXYZ xyz:SPCX	+0.0099%	1h	152.31	−0.020%	$129.9M	$129.0M	20x	as long as short
Pacifica SPCX	+0.0100%	1h	152.34	0.000%	$169K	$120K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.29	−0.033%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.37	+0.020%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.38	+0.026%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.37	+0.021%	$88	—	10x	as long as short
Binance SPCXUSDT	+0.0112%	8h	152.43	+0.059%	$251.5M	$1.36B	75x	as long as short
Extended SPCX-USD	+0.0112%	1h	152.39	+0.035%	$733K	$3.7M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0117%	1h	152.38	+0.026%	$487K	$1.2M	10x	as long as short
Lighter SPCX	+0.0120%	1h	152.37	+0.020%	$1.6M	$7.4M	20x	as long as short
OKX SPCX-USDT-SWAP	+0.0121%	8h	152.42	+0.053%	$39.5M	$166.7M	75x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0192%	1h	152.36	+0.013%	$732K	$938K	10x	as long as short
edgeX SPCXUSDC	+0.0209%	4h	152.39	+0.035%	$1.7M	$892K	20x	as long as short
Phoenix SPCX	+0.0210%	1h	152.38	+0.026%	$443K	$266K	15x	as long as short
Nado SPCX-PERP	+0.0247%	1h	152.23	−0.075%	$626K	$808K	20x	as long as short
Bullet SPCX-USD	+0.0278%	1h	152.40	+0.040%	$11K	$192K	10x	as long as short
Aster SPCXUSD1	+0.0376%	8h	152.56	+0.147%	$18.9M	$27.6M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.81	+0.309%	$9K	$28K	5.5x	as long as short
Deribit SPCX_USDC-PERPETUALlong	+0.0670%	1h	152.34	long leg	$89K	$1.3M	10x