Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0175%/8h= +19.1% APRpaid last 24h −0.009%

Price spread now: Binance against Injective−2.722%67s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Binance is 2.722% cheaper against Injective than usual: you would sell low and buy high (spread −2.722% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$272 on $10k: about 52 days of funding at the current rate (+$5 a day). The two prices were read 67 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	Injective SPCX/USDC PERP	157.25	0.0033	pay 0.0004% / 1h	58m 19s	$9K	$27K	5.5x
Short	Binance SPCXUSDT	152.97	0.0208	get 0.0208% / 8h	7h 58m	$252.7M	$1.39B	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now −2.722%Rate

Funding earned: $36.7
Price spread: −2.722% → 0.000%: −$272.18
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: −$245.5
Costs to cover: 0.100%
Break-even: 53.8 days

Slippage unknown: Injective: no order-book sample; Binance: live order book, 16 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 Injective no order-book sample	—	—	—	—	—
Sell Binance live order book, 16 min ago	0.33 bp	5.3 bp −$5	5.8 bp −$58	9.2 bp −$920	19.2 bp −$9,597

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 −0.0291% / S +0.0501%	1h	152.94	−2.744%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.96	−2.728%	$96.6M	$30.9M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+9.708%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.81	−2.824%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.23	−2.556%	$8K	$971K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.98	−2.715%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0029%	1h	152.81	−2.823%	$7K	$8K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.91	−2.760%	$2.5M	$7.4M	20x	as long as short
Injective SPCX/USDC PERPlong	+0.0033%	1h	157.25	long leg	$9K	$27K	5.5x
Vest SPCX-USD-PERP	+0.0046%	1h	152.97	−2.722%	—	$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
SoDEX SPCX-USD	+0.0050%	1h	152.91	−2.760%	$1.7M	$81K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.92	−2.754%	$534K	$414K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.70	−2.893%	$3.2M	$2.8M	10x	as long as short
QFEX SPCX-USD	+0.0063%	1h	152.95	−2.734%	$1.2M	$7.6M	10x	as long as short
BloFin SPCX-USDT	+0.0088%	8h	152.91	−2.760%	$1.9M	$1.4M	75x	as long as short
Lighter SPCX	+0.0088%	1h	152.94	−2.741%	$1.6M	$7.4M	20x	as long as short
Pacifica SPCX	+0.0100%	1h	152.89	−2.773%	$173K	$129K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.90	−2.766%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.78	−2.843%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.00	−2.703%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.00	−2.703%	$89	—	10x	as long as short
Paradex SPCX-USD-PERP	+0.0106%	8h	153.01	−2.699%	$101	—	5x	as long as short
Polymarket Perps SPCX-USD	+0.0123%	1h	152.87	−2.785%	$489K	$1.1M	10x	as long as short
Bybit SPCXUSDT	+0.0167%	8h	152.99	−2.709%	$30.7M	$42.8M	100x	as long as short
Nado SPCX-PERP	+0.0181%	1h	152.86	−2.792%	$600K	$882K	20x	as long as short
Variational Omni SPCX	+0.0189%	8h	152.87	−2.783%	$6.1M	$3.5M	—	as long as short
Arcus SPCX-USD	+0.0194%	1h	152.85	−2.798%	$105K	$297K	5x	as long as short
OKX SPCX-USDT-SWAP	+0.0200%	8h	152.97	−2.722%	$39.0M	$169.4M	75x	as long as short
Extended SPCX-USD	+0.0208%	1h	152.94	−2.740%	$734K	$3.7M	10x	as long as short
Binance SPCXUSDTshort	+0.0208%	8h	152.97	−2.722%	$252.7M	$1.39B	75x
Phoenix SPCX	+0.0261%	1h	152.92	−2.754%	$445K	$268K	15x	as long as short
Bitget SPCXUSDT	+0.0314%	8h	153.00	−2.703%	$31.2M	$67.0M	75x	as long as short
Aster SPCXUSD1	+0.0317%	8h	152.98	−2.714%	$19.0M	$21.3M	20x	as long as short
tradeXYZ xyz:SPCX	+0.0327%	1h	152.87	−2.785%	$143.4M	$119.6M	20x	as long as short
Bullet SPCX-USD	+0.0327%	1h	152.98	−2.718%	$12K	$187K	10x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0328%	1h	152.97	−2.722%	$733K	$970K	10x	as long as short
RISEx SPCX/USDC	+0.0409%	1h	153.03	−2.681%	$401K	$540K	20x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0470%	1h	152.98	−2.715%	$71K	$1.0M	10x	as long as short
edgeX SPCXUSDC	+0.0717%	4h	152.88	−2.781%	$1.7M	$894K	20x	as long as short