Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%

Price spread now: Lighter RH against GRVT−11.300%79s7-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 Lighter RH

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 · Lighter RH: Points live · farm boardneeds both histories

Funding pays, the price is against you. Lighter RH is 11.300% cheaper against GRVT than usual: you would sell low and buy high (spread −11.300% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$1,130 on $10k: about years of funding at the current rate (+$1 a day). The two prices were read 79 seconds apart, so part of this spread may be the market moving, not a spread.

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	4h 19m	$4K	$882	10x
Short	Lighter RH SPCX	153.03	0.0032	get 0.0004% / 1h	19m 49s	$2.5M	$7.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −11.300%Rate

Funding earned: $6.72
Price spread: −11.300% → 0.000%: −$1,130.04
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$1,132.32
Costs to cover: 0.090%
Break-even: 1186.5 days

Slippage unknown: GRVT: no order-book sample; Lighter RH: live order book, 4 min ago. 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 Lighter RH live order book, 4 min ago	1.63 bp	1.7 bp −$2	3.3 bp −$33	33.9 bp −$3,389	doesn't fit

GRVT: 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 −0.0253% / S +0.0486%	1h	153.06	−11.280%	$91K	—	20x	as long as short
Bybit SPCXUSDT	0.0000%	8h	153.10	−11.260%	$30.8M	$42.9M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.08	−11.271%	$96.3M	$31.3M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	153.13	−11.242%	$31.7M	$65.3M	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	153.02	−11.306%	$302K	$2.9M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.35	−11.115%	$8K	$938K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.14	−11.237%	$1.3M	$1.7M	75x	as long as short
edgeX SPCXUSDC	0.0000%	4h	153.08	−11.270%	$1.7M	$892K	20x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0011%	1h	153.05	−11.289%	$77K	$1.2M	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps SPCXUSD	+0.0022%	1h	153.02	−11.305%	$8K	$8K	10x	as long as short
BloFin SPCX-USDT	+0.0029%	8h	153.11	−11.254%	$1.9M	$1.4M	75x	as long as short
Lighter SPCX	+0.0032%	1h	153.06	−11.283%	$1.6M	$7.3M	20x	as long as short
Lighter RH SPCXshort	+0.0032%	1h	153.03	−11.300%	$2.5M	$7.3M	20x
Arcus SPCX-USD	+0.0040%	1h	153.02	−11.306%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.09	−11.266%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0046%	1h	153.05	−11.289%	$1.2M	$6.0M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	153.04	−11.295%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.07	−11.277%	$1.7M	$97K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	153.10	−11.260%	$533K	$393K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.98	−11.329%	$3.2M	$2.5M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0061%	8h	153.11	−11.256%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	153.00	−11.318%	$169K	$130K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	153.02	−11.306%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.01	−11.312%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.10	−11.260%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.10	−11.261%	$89	—	10x	as long as short
tradeXYZ xyz:SPCX	+0.0106%	1h	153.05	−11.289%	$141.4M	$119.0M	20x	as long as short
Bullet SPCX-USD	+0.0106%	1h	153.11	−11.256%	$11K	$191K	10x	as long as short
Nado SPCX-PERP	+0.0130%	1h	153.03	−11.300%	$617K	$821K	20x	as long as short
Variational Omni SPCX	+0.0133%	8h	153.09	−11.268%	$6.0M	$3.0M	—	as long as short
Extended SPCX-USD	+0.0144%	1h	153.05	−11.289%	$734K	$3.8M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0147%	8h	153.12	−11.248%	$39.5M	$166.8M	75x	as long as short
Binance SPCXUSDT	+0.0148%	8h	153.09	−11.263%	$251.1M	$1.37B	75x	as long as short
RISEx SPCX/USDC	+0.0191%	1h	153.13	−11.240%	$410K	$530K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	153.10	−11.260%	$738K	$926K	10x	as long as short
Phoenix SPCX	+0.0261%	1h	153.10	−11.260%	$445K	$268K	15x	as long as short
Aster SPCXUSD1	+0.0409%	8h	153.17	−11.217%	$19.0M	$21.1M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.50	−11.028%	$9K	$28K	5.5x	as long as short