Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0676%/8h= −74.0% APRpaid last 24h −0.028%

Price spread now: Bullet against edgeX+0.044%67s7-day average +0.009% · 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−$240.236% of the position

Long on edgeX Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.307%−$31 on $10k

Price spread, last 3 days (all we have)−0.038%−$4 · spread now +0.044%, 7d avg +0.009%

Together, before fees−0.345%+ Points / potential airdropedgeX: Active · farm board−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bullet is 0.035% dearer against edgeX than usual: you sell high and buy low (spread +0.044% now, against its 7-day average of +0.009%): +$3 on $10k if it goes back. Holding the pair costs −$20 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 3 days (−0.307% in total) that is about 9 hours. The two prices were read 67 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX SPCXUSDC	152.87	0.0807	pay 0.0404% / 4h	26m 31s	$1.7M	$891K	20x
Short	Bullet SPCX-USD	152.94	0.0132	get 0.0016% / 1h	26m 31s	$11K	$188K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against edgeX. 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 edgeXbpFee BulletbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$141.88
Price spread: +0.044% → +0.009%: $3.45
Slippage, 4 orders: −$6.64
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$162.07
Costs to cover: 0.236%
Break-even: never at this rate

Slippage from edgeX: live order book, 2 min ago; Bullet: live order book, 52 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 edgeX live order book, 2 min ago	1.63 bp	6.1 bp −$6	7.4 bp −$74	22.1 bp −$2,213	doesn't fit
Sell Bullet live order book, 52 min ago	0.33 bp	5.9 bp −$6	20.6 bp −$206	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 −0.0274% / S +0.0489%	1h	152.88	+0.002%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.90	+0.018%	$96.5M	$31.4M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.51	+12.846%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.81	−0.041%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.10	+0.149%	$8K	$973K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.88	+0.005%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0032%	1h	152.82	−0.034%	$7K	$10K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.85	−0.015%	$2.5M	$7.6M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+2.864%	$9K	$27K	5.5x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.90	+0.018%	$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	152.88	+0.005%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.89	+0.012%	$489K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.89	+0.012%	$1.7M	$79K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.85	−0.015%	$536K	$408K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.72	−0.100%	$3.2M	$2.8M	10x	as long as short
QFEX SPCX-USD	+0.0052%	1h	152.88	+0.005%	$1.2M	$7.6M	10x	as long as short
BloFin SPCX-USDT	+0.0074%	8h	152.92	+0.031%	$1.9M	$1.4M	75x	as long as short
Lighter SPCX	+0.0080%	1h	152.88	+0.005%	$1.6M	$7.4M	20x	as long as short
Paradex SPCX-USD-PERP	+0.0088%	8h	152.90	+0.017%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.82	−0.034%	$173K	$130K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.81	−0.041%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.92	+0.031%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.90	+0.018%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.92	+0.034%	$89	—	10x	as long as short
Bullet SPCX-USDshort	+0.0132%	1h	152.94	+0.044%	$11K	$188K	10x
Bybit SPCXUSDT	+0.0149%	8h	152.92	+0.031%	$30.7M	$42.8M	100x	as long as short
Variational Omni SPCX	+0.0171%	8h	152.87	−0.003%	$6.0M	$3.5M	—	as long as short
Extended SPCX-USD	+0.0192%	1h	152.90	+0.017%	$734K	$3.6M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0193%	8h	152.93	+0.038%	$39.0M	$169.4M	75x	as long as short
Binance SPCXUSDT	+0.0195%	8h	152.92	+0.034%	$253.2M	$1.39B	75x	as long as short
tradeXYZ xyz:SPCX	+0.0258%	1h	152.90	+0.018%	$143.4M	$118.9M	20x	as long as short
Phoenix SPCX	+0.0261%	1h	152.82	−0.034%	$445K	$269K	15x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0280%	1h	152.97	+0.064%	$733K	$970K	10x	as long as short
Aster SPCXUSD1	+0.0287%	8h	152.99	+0.077%	$19.0M	$21.3M	20x	as long as short
Nado SPCX-PERP	+0.0291%	1h	152.80	−0.049%	$602K	$884K	20x	as long as short
Bitget SPCXUSDT	+0.0308%	8h	152.93	+0.038%	$31.2M	$67.2M	75x	as long as short
RISEx SPCX/USDC	+0.0339%	1h	152.96	+0.058%	$403K	$539K	20x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0470%	1h	152.90	+0.018%	$71K	$1.0M	10x	as long as short
edgeX SPCXUSDClong	+0.0807%	4h	152.87	long leg	$1.7M	$891K	20x