Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0215%/8h= +23.5% APRpaid last 24h +0.037%

Price spread now: Nado against Gate−0.052%7-day average +0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$350.350% of the position

Long on Gate Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.061%+$6 on $10k

Price spread, last 7 days+0.097%+$10 · spread now −0.052%, 7d avg +0.022%

Together, before fees+0.159%+ Points / potential airdropNado: Active · farm board+$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.074% cheaper against Gate than usual: you would sell low and buy high (spread −0.052% now, against its 7-day average of +0.022%). If the spread goes back, that is −$7 on $10k: about 27 hours of funding at the current rate (+$6 a day). At the pace of the last 3 days (+0.061% in total) that is about 3.8 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.061% in total (about 7.1% 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	Gate SPCX_USDT	152.62	0	get 0.0000% / 8h	1h 29m	$96.5M	$30.9M	100x
Short	Nado SPCX-PERP	152.54	0.0215	get 0.0027% / 1h	29m 48s	$625K	$871K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.052%Rate

Funding earned: $45.13
Price spread: −0.052% → +0.022%: −$7.36
Slippage, 4 orders: −$13.03
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $2.73
Costs to cover: 0.350%
Break-even: 6.6 days

Slippage from Gate: live order book, 4 min ago; Nado: live order book, 54 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	0.33 bp	10.4 bp −$10	15.9 bp −$159	43.1 bp −$4,312	84.1 bp −$42.1K
Sell Nado live order book, 54 min ago	0.33 bp	7.4 bp −$7	25.6 bp −$256	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	152.63	+0.003%	$88K	—	20x	as long as short
Gate SPCX_USDTlong	0.0000%	8h	152.62	long leg	$96.5M	$30.9M	100x
GRVT SPCX_USDT_Perp	0.0000%	8h	172.51	+13.032%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.68	+0.039%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.84	+0.144%	$8K	$977K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.65	+0.020%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0022%	1h	152.59	−0.019%	$7K	$10K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.57	−0.033%	$1.6M	$7.2M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.57	−0.033%	$2.4M	$7.5M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+3.034%	$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	152.62	0.000%	—	$1.1M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.63	+0.007%	$489K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.63	+0.007%	$1.7M	$79K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.65	+0.020%	$539K	$404K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.51	−0.072%	$3.2M	$2.6M	10x	as long as short
Bullet SPCX-USD	+0.0064%	1h	152.64	+0.014%	$11K	$189K	10x	as long as short
QFEX SPCX-USD	+0.0066%	1h	152.63	+0.007%	$1.2M	$7.6M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0070%	8h	152.63	+0.006%	$101	—	5x	as long as short
BloFin SPCX-USDT	+0.0079%	8h	152.67	+0.033%	$1.9M	$1.4M	75x	as long as short
Pacifica SPCX	+0.0100%	1h	152.57	−0.033%	$175K	$133K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.52	−0.066%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.57	−0.033%	$58K	$270K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.57	−0.033%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.65	+0.021%	$89	—	10x	as long as short
tradeXYZ xyz:SPCX	+0.0121%	1h	152.62	0.000%	$130.0M	$107.5M	20x	as long as short
Bybit SPCXUSDT	+0.0137%	8h	152.66	+0.026%	$30.8M	$42.3M	100x	as long as short
OKX SPCX-USDT-SWAP	+0.0179%	8h	152.64	+0.013%	$38.9M	$168.4M	75x	as long as short
Variational Omni SPCX	+0.0180%	8h	152.64	+0.010%	$6.0M	$3.9M	—	as long as short
Binance SPCXUSDT	+0.0199%	8h	152.64	+0.015%	$255.7M	$1.38B	75x	as long as short
Extended SPCX-USD	+0.0200%	1h	152.61	−0.004%	$715K	$3.6M	10x	as long as short
Nado SPCX-PERPshort	+0.0215%	1h	152.54	−0.052%	$625K	$871K	20x
Arcus SPCX-USD	+0.0227%	1h	152.57	−0.033%	$106K	$296K	5x	as long as short
Aster SPCXUSD1	+0.0244%	8h	152.72	+0.063%	$19.0M	$21.8M	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	152.71	+0.059%	$741K	$947K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0274%	1h	152.61	−0.007%	$71K	$1.1M	10x	as long as short
Phoenix SPCX	+0.0314%	1h	152.65	+0.020%	$445K	$196K	15x	as long as short
Bitget SPCXUSDT	+0.0315%	8h	152.67	+0.033%	$31.0M	$66.5M	75x	as long as short
edgeX SPCXUSDC	+0.0516%	4h	152.65	+0.017%	$1.7M	$893K	20x	as long as short
RISEx SPCX/USDC	+0.0543%	1h	152.70	+0.052%	$402K	$541K	20x	as long as short