Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0232%/8h= +25.4% APRpaid last 24h +0.045%

Price spread now: Coinbase International against Gate−0.269%7-day average +0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$400.405% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.293%+$29 on $10k

Price spread, last 3 days (all we have)+0.328%+$33 · spread now −0.269%, 7d avg +0.029%

Together, before fees+0.621%+$62 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.297% cheaper against Gate than usual: you would sell low and buy high (spread −0.269% now, against its 7-day average of +0.029%). If the spread goes back, that is −$30 on $10k: about 4.3 days of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SPCX_USDT	152.57	0	get 0.0000% / 8h	2h 29m	$96.3M	$31.0M	100x
Short	Coinbase International SPCX-PERP-INTX	152.16	0.0232	get 0.0029% / 1h	29m 33s	$739K	$963K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. 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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now −0.269%Rate

Funding earned: $48.72
Price spread: −0.269% → +0.029%: −$29.73
Slippage, 4 orders: −$15.49
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$21.5
Costs to cover: 0.405%
Break-even: 10.1 days

Slippage from Gate: live order book, 4 min ago; Coinbase International: live order book, 59 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 Gate live order book, 4 min ago	0.65 bp	8.7 bp −$9	16.0 bp −$160	44.2 bp −$4,417	79.9 bp −$40.0K
Sell Coinbase International live order book, 59 min ago	4.27 bp	9.3 bp −$9	12.3 bp −$123	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 −0.0271% / S +0.0488%	1h	152.53	−0.029%	$88K	—	20x	as long as short
Gate SPCX_USDTlong	0.0000%	8h	152.57	long leg	$96.3M	$31.0M	100x
GRVT SPCX_USDT_Perp	0.0000%	8h	172.50	+13.065%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.62	+0.033%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.78	+0.138%	$8K	$989K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.58	+0.007%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0024%	1h	152.51	−0.038%	$7K	$10K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.51	−0.039%	$2.4M	$7.7M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+3.067%	$9K	$27K	5.5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.56	−0.007%	—	$1.0M	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps SPCX-USD	+0.0050%	1h	152.52	−0.033%	$488K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.57	0.000%	$1.7M	$79K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.59	+0.013%	$542K	$402K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.46	−0.072%	$3.1M	$2.6M	10x	as long as short
QFEX SPCX-USD	+0.0057%	1h	152.56	−0.007%	$1.2M	$7.6M	10x	as long as short
BloFin SPCX-USDT	+0.0063%	8h	152.61	+0.026%	$1.9M	$1.4M	75x	as long as short
Lighter SPCX	+0.0080%	1h	152.53	−0.026%	$1.6M	$7.3M	20x	as long as short
Paradex SPCX-USD-PERP	+0.0091%	8h	152.59	+0.011%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.52	−0.033%	$175K	$135K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.44	−0.085%	$13.0M	$5.2M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.64	+0.046%	$58K	$270K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.59	+0.013%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.61	+0.025%	$89	—	10x	as long as short
Bybit SPCXUSDT	+0.0134%	8h	152.61	+0.026%	$30.7M	$42.2M	100x	as long as short
OKX SPCX-USDT-SWAP	+0.0155%	8h	152.60	+0.020%	$38.9M	$168.0M	75x	as long as short
Variational Omni SPCX	+0.0157%	8h	152.60	+0.018%	$6.1M	$4.3M	—	as long as short
tradeXYZ xyz:SPCX	+0.0179%	1h	152.52	−0.033%	$129.9M	$107.2M	20x	as long as short
Extended SPCX-USD	+0.0184%	1h	152.58	+0.005%	$715K	$3.6M	10x	as long as short
Bullet SPCX-USD	+0.0184%	1h	152.59	+0.013%	$12K	$190K	10x	as long as short
Binance SPCXUSDT	+0.0186%	8h	152.60	+0.020%	$256.0M	$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
Aster SPCXUSD1	+0.0213%	8h	152.63	+0.040%	$19.0M	$21.3M	20x	as long as short
Coinbase International SPCX-PERP-INTXshort	+0.0232%	1h	152.16	−0.269%	$739K	$963K	10x
Phoenix SPCX	+0.0262%	1h	152.58	+0.007%	$370K	$191K	15x	as long as short
Arcus SPCX-USD	+0.0293%	1h	152.53	−0.026%	$106K	$296K	5x	as long as short
Nado SPCX-PERP	+0.0305%	1h	152.42	−0.095%	$624K	$878K	20x	as long as short
Bitget SPCXUSDT	+0.0329%	8h	152.59	+0.013%	$31.2M	$66.3M	75x	as long as short
RISEx SPCX/USDC	+0.0462%	1h	152.62	+0.033%	$383K	$539K	20x	as long as short
edgeX SPCXUSDC	+0.0611%	4h	152.60	+0.018%	$1.7M	$894K	20x	as long as short