Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0305%/8h= +33.4% APRpaid last 24h +0.033%

Price spread now: Nado against HTX−0.066%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−$38as in the Price arb table

costs, in and out, $10k−$330.334% of the position

Long on HTX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.057%+$6 on $10k

Price spread, last 3 days (all we have)+0.065%+$7 · spread now −0.066%, 7d avg −0.022%

Together, before fees+0.123%+ Points / potential airdropNado: Active · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.044% cheaper against HTX than usual: you would sell low and buy high (spread −0.066% now, against its 7-day average of −0.022%). If the spread goes back, that is −$4 on $10k: about 12 hours of funding at the current rate (+$9 a day). At the pace of the last 3 days (+0.057% in total) that is about 2.4 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.057% in total (about 6.7% 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	HTX SPCX-USDT	152.66	0	get 0.0000% / 8h	2h 10m	$1.3M	$1.7M	75x
Short	Nado SPCX-PERP	152.56	0.0305	get 0.0038% / 1h	10m 18s	$625K	$878K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against HTX. 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 HTXbpFee NadobpOrdersPrice spread, now −0.066%Rate

Funding earned: $64.01
Price spread: −0.066% → −0.022%: −$4.39
Slippage, 4 orders: −$14.4
Fee HTX: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $26.22
Costs to cover: 0.334%
Break-even: 4.1 days

Slippage from HTX: live order book, 3 min ago; Nado: live order book, 13 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 HTX live order book, 3 min ago	0.33 bp	12.2 bp −$12	14.6 bp −$146	18.9 bp −$1,889	doesn't fit
Sell Nado live order book, 13 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 −0.0271% / S +0.0488%	1h	152.64	−0.013%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.68	+0.013%	$96.5M	$31.2M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.50	+12.998%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.71	+0.033%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.91	+0.164%	$8K	$990K	10x	as long as short
HTX SPCX-USDTlong	0.0000%	8h	152.66	long leg	$1.3M	$1.7M	75x
Aftermath Perps SPCXUSD	+0.0024%	1h	152.59	−0.047%	$7K	$10K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.62	−0.026%	$2.4M	$7.7M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+3.007%	$9K	$27K	5.5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.68	+0.013%	—	$1.1M	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	152.64	−0.013%	$489K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.67	+0.007%	$1.7M	$79K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.67	+0.007%	$540K	$406K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.54	−0.079%	$3.2M	$2.6M	10x	as long as short
QFEX SPCX-USD	+0.0057%	1h	152.67	+0.007%	$1.2M	$7.6M	10x	as long as short
Lighter SPCX	+0.0064%	1h	152.63	−0.020%	$1.6M	$7.3M	20x	as long as short
BloFin SPCX-USDT	+0.0092%	8h	152.70	+0.026%	$1.9M	$1.4M	75x	as long as short
Paradex SPCX-USD-PERP	+0.0099%	8h	152.70	+0.027%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.60	−0.039%	$175K	$135K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.56	−0.066%	$13.0M	$5.3M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.71	+0.033%	$58K	$270K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.70	+0.026%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.71	+0.035%	$89	—	10x	as long as short
Bybit SPCXUSDT	+0.0154%	8h	152.71	+0.033%	$30.7M	$42.3M	100x	as long as short
OKX SPCX-USDT-SWAP	+0.0183%	8h	152.69	+0.020%	$39.0M	$168.2M	75x	as long as short
tradeXYZ xyz:SPCX	+0.0185%	1h	152.63	−0.020%	$129.9M	$107.3M	20x	as long as short
Variational Omni SPCX	+0.0189%	8h	152.69	+0.020%	$6.1M	$4.3M	—	as long as short
Bullet SPCX-USD	+0.0205%	1h	152.69	+0.022%	$11K	$190K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0209%	1h	152.66	0.000%	$71K	$1.1M	10x	as long as short
Binance SPCXUSDT	+0.0213%	8h	152.69	+0.020%	$256.3M	$1.38B	75x	as long as short
Extended SPCX-USD	+0.0216%	1h	152.68	+0.013%	$715K	$3.6M	10x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0232%	1h	152.71	+0.033%	$741K	$947K	10x	as long as short
Aster SPCXUSD1	+0.0241%	8h	152.74	+0.052%	$19.0M	$21.3M	20x	as long as short
Phoenix SPCX	+0.0262%	1h	152.68	+0.013%	$371K	$191K	15x	as long as short
Arcus SPCX-USD	+0.0293%	1h	152.63	−0.020%	$106K	$296K	5x	as long as short
Nado SPCX-PERPshort	+0.0305%	1h	152.56	−0.066%	$625K	$878K	20x
edgeX SPCXUSDC	+0.0331%	4h	152.66	+0.002%	$1.7M	$894K	20x	as long as short
Bitget SPCXUSDT	+0.0342%	8h	152.69	+0.020%	$31.1M	$66.5M	75x	as long as short
RISEx SPCX/USDC	+0.0462%	1h	152.73	+0.043%	$393K	$539K	20x	as long as short