Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0440%/8h= −48.2% APRpaid last 24h +0.023%

Price spread now: Bitget against Injective−0.157%7-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 Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Bitget is 0.157% cheaper against Injective than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.002% in total (about -0.1% 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	Injective SPCX/USDC PERP	153.32	0.0440	pay 0.0055% / 1h	58m 53s	$9K	$28K	5.5x
Short	Bitget SPCXUSDT	153.08	0	get 0.0000% / 8h	3h 58m	$31.7M	$65.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.157%Rate

Funding earned: −$92.4
Price spread: −0.157% → 0.000%: −$15.65
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$120.07
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Bitget: live order book, 5 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 Bitget live order book, 5 min ago	0.33 bp	6.6 bp −$7	8.3 bp −$83	25.9 bp −$2,587	38.0 bp −$19.0K

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 −0.0214% / S +0.0456%	1h	153.00	−0.212%	$91K	—	20x	as long as short
Bybit SPCXUSDT	0.0000%	8h	153.08	−0.157%	$30.7M	$42.9M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.01	−0.202%	$96.3M	$31.1M	100x	as long as short
Bitget SPCXUSDTshort	0.0000%	8h	153.08	−0.157%	$31.7M	$65.3M	75x
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.530%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.91	−0.267%	$302K	$2.9M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.26	−0.039%	$7K	$938K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.09	−0.150%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0027%	1h	153.04	−0.184%	$8K	$8K	10x	as long as short
BloFin SPCX-USDT	+0.0028%	8h	153.03	−0.189%	$1.9M	$1.4M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SPCX	+0.0032%	1h	152.96	−0.235%	$1.6M	$7.3M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.93	−0.254%	$2.5M	$7.2M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.95	−0.241%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.97	−0.228%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.98	−0.222%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.00	−0.209%	$1.7M	$95K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	153.02	−0.196%	$532K	$391K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.84	−0.313%	$3.2M	$2.5M	10x	as long as short
QFEX SPCX-USD	+0.0050%	1h	153.00	−0.209%	$1.2M	$5.9M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0080%	8h	153.02	−0.195%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.93	−0.254%	$169K	$129K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.97	−0.228%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.04	−0.183%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.04	−0.183%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.01	−0.202%	$89	—	10x	as long as short
Variational Omni SPCX	+0.0132%	8h	153.00	−0.210%	$6.0M	$2.9M	—	as long as short
Extended SPCX-USD	+0.0144%	1h	153.01	−0.201%	$734K	$3.8M	10x	as long as short
Binance SPCXUSDT	+0.0148%	8h	153.06	−0.170%	$248.1M	$1.36B	75x	as long as short
OKX SPCX-USDT-SWAP	+0.0152%	8h	153.08	−0.157%	$39.6M	$166.7M	75x	as long as short
RISEx SPCX/USDC	+0.0217%	1h	153.03	−0.188%	$409K	$525K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0248%	1h	153.10	−0.143%	$738K	$926K	10x	as long as short
Bullet SPCX-USD	+0.0261%	1h	153.03	−0.189%	$12K	$192K	10x	as long as short
Phoenix SPCX	+0.0261%	1h	153.01	−0.202%	$445K	$264K	15x	as long as short
Nado SPCX-PERP	+0.0283%	1h	152.87	−0.292%	$616K	$815K	20x	as long as short
tradeXYZ xyz:SPCX	+0.0320%	1h	152.98	−0.222%	$141.4M	$119.2M	20x	as long as short
Aster SPCXUSD1	+0.0415%	8h	153.12	−0.129%	$19.0M	$21.6M	20x	as long as short
Injective SPCX/USDC PERPlong	+0.0440%	1h	153.32	long leg	$9K	$28K	5.5x
Deribit SPCX_USDC-PERPETUAL	+0.0470%	1h	152.98	−0.222%	$84K	$1.2M	10x	as long as short
edgeX SPCXUSDC	+0.0914%	4h	153.00	−0.206%	$1.7M	$893K	20x	as long as short