Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0440%/8h= +48.2% APRpaid last 24h +0.020%

Price spread now: Injective against GRVT−11.209%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on GRVT Short on Injective

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Funding pays, the price is against you. Injective is 11.209% cheaper against GRVT than usual: you would sell low and buy high (spread −11.209% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$1,121 on $10k: about 3 months of funding at the current rate (+$13 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT SPCX_USDT_Perp	172.53	0	get 0.0000% / 8h	3h 02m	$4K	$882	10x
Short	Injective SPCX/USDC PERP	153.19	0.0440	get 0.0055% / 1h	2m 14s	$9K	$28K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against GRVT. 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 GRVTbpFee InjectivebpOrdersPrice spread, now −11.209%Rate

Funding earned: $92.4
Price spread: −11.209% → 0.000%: −$1,120.87
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$1,037.49
Costs to cover: 0.090%
Break-even: 85.6 days

Slippage unknown: GRVT: no order-book sample; Injective: no order-book sample. Net counts fees only.

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 GRVT no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

GRVT and Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0224% / S +0.0463%	1h	152.40	−11.669%	$90K	—	20x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.48	−11.620%	$30.6M	$42.7M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.48	−11.620%	$96.2M	$31.7M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.52	−11.597%	$31.4M	$65.9M	75x	as long as short
GRVT SPCX_USDT_Perplong	0.0000%	8h	172.53	long leg	$4K	$882	10x
StandX SPCX-USD	0.0000%	1h	152.55	−11.580%	$300K	$2.9M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.70	−11.493%	$8K	$916K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.57	−11.568%	$1.3M	$1.8M	75x	as long as short
BloFin SPCX-USDT	+0.0013%	8h	152.55	−11.580%	$1.9M	$1.3M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0028%	1h	152.39	−11.672%	$7K	$8K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SPCX	+0.0032%	1h	152.36	−11.690%	$2.5M	$7.4M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.41	−11.661%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.50	−11.609%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.47	−11.626%	$490K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.44	−11.643%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.46	−11.632%	$532K	$388K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.33	−11.707%	$3.2M	$2.3M	10x	as long as short
QFEX SPCX-USD	+0.0050%	1h	152.47	−11.626%	$1.2M	$5.6M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0055%	8h	152.52	−11.596%	$101	—	5x	as long as short
Lighter SPCX	+0.0056%	1h	152.40	−11.667%	$1.6M	$7.5M	20x	as long as short
tradeXYZ xyz:SPCX	+0.0057%	1h	152.40	−11.667%	$131.0M	$128.4M	20x	as long as short
Pacifica SPCX	+0.0100%	1h	152.39	−11.672%	$169K	$120K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.37	−11.684%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.45	−11.638%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.52	−11.597%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.49	−11.616%	$88	—	10x	as long as short
Variational Omni SPCX	+0.0125%	8h	152.47	−11.627%	$6.0M	$2.9M	—	as long as short
Binance SPCXUSDT	+0.0133%	8h	152.46	−11.632%	$250.5M	$1.36B	75x	as long as short
Extended SPCX-USD	+0.0136%	1h	152.47	−11.626%	$731K	$4.6M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0140%	8h	152.52	−11.597%	$39.4M	$166.3M	75x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0144%	1h	152.47	−11.626%	$87K	$1.2M	10x	as long as short
Nado SPCX-PERP	+0.0185%	1h	152.43	−11.649%	$613K	$802K	20x	as long as short
Bullet SPCX-USD	+0.0191%	1h	152.51	−11.603%	$11K	$192K	10x	as long as short
RISEx SPCX/USDC	+0.0217%	1h	152.55	−11.581%	$408K	$522K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0248%	1h	152.44	−11.643%	$739K	$931K	10x	as long as short
Phoenix SPCX	+0.0261%	1h	152.42	−11.655%	$443K	$264K	15x	as long as short
Aster SPCXUSD1	+0.0403%	8h	152.57	−11.567%	$18.9M	$24.0M	20x	as long as short
Injective SPCX/USDC PERPshort	+0.0440%	1h	153.19	−11.209%	$9K	$28K	5.5x
edgeX SPCXUSDC	+0.0883%	4h	152.48	−11.618%	$1.7M	$893K	20x	as long as short