Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0142%/8h= −15.5% APRpaid last 24h +0.009%

Price spread now: Phemex against Extended+0.013%7-day average −0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$320.319% of the position

Long on Extended Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.090%−$9 on $10k

Price spread, last 3 days (all we have)−0.125%−$13 · spread now +0.013%, 7d avg −0.038%

Together, before fees−0.215%+ Points / potential airdropExtended: Active · farm board−$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.051% dearer against Extended than usual: you sell high and buy low (spread +0.013% now, against its 7-day average of −0.038%): +$5 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 29 hours. At the pace of the last 7 days (−0.090% in total) that is about 4.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SPCX-USD	152.57	0.0192	pay 0.0024% / 1h	18m 10s	$739K	$3.6M	10x
Short	Phemex SPCXUSDT	152.59	0.0050	get 0.0050% / 8h	1h 18m	$538K	$403K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Extended. 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 ExtendedbpFee PhemexbpOrdersPrice spread, now +0.013%Rate

Funding earned: −$29.82
Price spread: +0.013% → −0.038%: $5.08
Slippage, 4 orders: −$14.87
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$56.61
Costs to cover: 0.319%
Break-even: never at this rate

Slippage from Extended: live order book, 6 min ago; Phemex: live order book, 64 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 Extended live order book, 6 min ago	0.98 bp	3.5 bp −$3	6.1 bp −$61	doesn't fit	doesn't fit
Sell Phemex live order book, 64 min ago	2.29 bp	13.7 bp −$14	doesn't fit	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 −0.0272% / S +0.0488%	1h	152.57	+0.003%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.57	0.000%	$96.5M	$30.9M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+13.073%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.63	+0.039%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.80	+0.150%	$8K	$978K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.60	+0.019%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0025%	1h	152.59	+0.013%	$7K	$10K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.53	−0.026%	$1.7M	$7.2M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.52	−0.033%	$2.5M	$7.6M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+3.067%	$9K	$27K	5.5x	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	152.53	−0.026%	—	$1.1M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.57	0.000%	$488K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.58	+0.006%	$1.7M	$79K	20x	as long as short
Phemex SPCXUSDTshort	+0.0050%	8h	152.59	+0.013%	$538K	$403K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.47	−0.066%	$3.2M	$2.6M	10x	as long as short
QFEX SPCX-USD	+0.0066%	1h	152.57	0.000%	$1.2M	$7.6M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0067%	8h	152.58	+0.009%	$101	—	5x	as long as short
BloFin SPCX-USDT	+0.0076%	8h	152.61	+0.026%	$1.9M	$1.4M	75x	as long as short
Bullet SPCX-USD	+0.0097%	1h	152.60	+0.019%	$11K	$188K	10x	as long as short
Pacifica SPCX	+0.0100%	1h	152.52	−0.033%	$175K	$133K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.51	−0.040%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.53	−0.026%	$58K	$270K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.60	+0.019%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.59	+0.015%	$89	—	10x	as long as short
Bybit SPCXUSDT	+0.0138%	8h	152.60	+0.019%	$30.8M	$42.4M	100x	as long as short
tradeXYZ xyz:SPCX	+0.0150%	1h	152.57	0.000%	$130.2M	$107.6M	20x	as long as short
Variational Omni SPCX	+0.0175%	8h	152.60	+0.017%	$6.0M	$3.9M	—	as long as short
OKX SPCX-USDT-SWAP	+0.0181%	8h	152.62	+0.032%	$38.9M	$168.4M	75x	as long as short
Extended SPCX-USDlong	+0.0192%	1h	152.57	long leg	$739K	$3.6M	10x
Binance SPCXUSDT	+0.0195%	8h	152.61	+0.026%	$255.4M	$1.38B	75x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0209%	1h	152.54	−0.020%	$70K	$1.1M	10x	as long as short
Arcus SPCX-USD	+0.0227%	1h	152.53	−0.026%	$106K	$296K	5x	as long as short
Nado SPCX-PERP	+0.0238%	1h	152.48	−0.059%	$624K	$872K	20x	as long as short
Aster SPCXUSD1	+0.0247%	8h	152.66	+0.056%	$19.0M	$21.8M	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	152.61	+0.026%	$741K	$946K	10x	as long as short
Phoenix SPCX	+0.0314%	1h	152.60	+0.019%	$445K	$196K	15x	as long as short
Bitget SPCXUSDT	+0.0315%	8h	152.60	+0.019%	$31.0M	$66.5M	75x	as long as short
edgeX SPCXUSDC	+0.0386%	4h	152.60	+0.017%	$1.7M	$893K	20x	as long as short
RISEx SPCX/USDC	+0.0543%	1h	152.65	+0.054%	$402K	$548K	20x	as long as short