Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −11.0% APRpaid last 24h +0.001%

Price spread now: Phoenix against edgeX−0.087%7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$250.254% of the position

Long on edgeX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.592%−$59 on $10k

Price spread, last 4 days (all we have)+0.127%+$13 · spread now −0.087%, 7d avg +0.006%

Together, before fees−0.465%+ Points / potential airdropedgeX: Active · farm board−$47 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phoenix is 0.093% cheaper against edgeX than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.006%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX SPCXUSDC	152.31	0.0311	pay 0.0155% / 4h	3h 48m	$1.7M	$890K	20x
Short	Phoenix SPCX	152.18	0.0210	get 0.0026% / 1h	48m 59s	$447K	$268K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.087%Rate

Funding earned: −$21.1
Price spread: −0.087% → +0.006%: −$9.31
Slippage, 4 orders: −$9.39
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$55.8
Costs to cover: 0.254%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; Phoenix: live order book, 48 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, 5 min ago	1.97 bp	6.5 bp −$6	7.5 bp −$75	20.7 bp −$2,071	doesn't fit
Sell Phoenix live order book, 48 min ago	0.33 bp	5.3 bp −$5	17.4 bp −$174	doesn't fit	doesn't fit

SPCX on 38 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	152.18	−0.090%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0011%	8h	152.27	−0.028%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.25	−0.041%	$30.4M	$43.0M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.22	−0.061%	$96.2M	$31.9M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.28	−0.021%	$31.0M	$66.8M	75x	as long as short
StandX SPCX-USD	0.0000%	1h	152.32	+0.005%	$300K	$2.6M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.55	+0.156%	$8K	$862K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.28	−0.021%	$1.3M	$1.8M	75x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0013%	1h	152.24	−0.048%	$87K	$1.4M	10x	as long as short
Aftermath Perps SPCXUSD	+0.0021%	1h	152.20	−0.076%	$7K	$7K	10x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SPCX	+0.0032%	1h	152.22	−0.061%	$1.6M	$7.3M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.21	−0.067%	$2.5M	$7.2M	20x	as long as short
QFEX SPCX-USD	+0.0035%	1h	152.24	−0.048%	$1.2M	$5.5M	10x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.20	−0.074%	$102K	$299K	5x	as long as short
Bullet SPCX-USD	+0.0046%	1h	152.29	−0.018%	$11K	$192K	10x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.26	−0.035%	—	$1.2M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.21	−0.067%	$129.9M	$129.6M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.15	−0.107%	$488K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.23	−0.054%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.23	−0.054%	$529K	$366K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.13	−0.120%	$3.2M	$2.2M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0066%	8h	152.25	−0.039%	$100	—	5x	as long as short
Nado SPCX-PERP	+0.0082%	1h	152.18	−0.088%	$635K	$815K	20x	as long as short
Variational Omni SPCX	+0.0092%	8h	152.28	−0.022%	$5.9M	$2.8M	—	as long as short
Pacifica SPCX	+0.0100%	1h	152.18	−0.087%	$168K	$118K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.16	−0.100%	$13.0M	$5.7M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.38	+0.044%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.28	−0.021%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.23	−0.052%	$88	—	10x	as long as short
Binance SPCXUSDT	+0.0109%	8h	152.26	−0.035%	$253.4M	$1.37B	75x	as long as short
Extended SPCX-USD	+0.0112%	1h	152.21	−0.066%	$725K	$5.3M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0123%	8h	152.26	−0.035%	$39.5M	$167.2M	75x	as long as short
RISEx SPCX/USDC	+0.0190%	1h	152.26	−0.033%	$381K	$506K	20x	as long as short
Phoenix SPCXshort	+0.0210%	1h	152.18	−0.087%	$447K	$268K	15x
Coinbase International SPCX-PERP-INTX	+0.0280%	1h	152.13	−0.120%	$693K	$992K	10x	as long as short
edgeX SPCXUSDClong	+0.0311%	4h	152.31	long leg	$1.7M	$890K	20x
Aster SPCXUSD1	+0.0380%	8h	152.38	+0.042%	$18.9M	$30.7M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.57	+0.169%	$9K	$28K	5.5x	as long as short