Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0338%/8h= −37.0% APRpaid last 24h −0.006%

Price spread now: Variational Omni against Injective−0.073%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 Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Variational Omni is 0.073% cheaper against Injective than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective SPCX/USDC PERP	152.70	0.0440	pay 0.0055% / 1h	17m 19s	$9K	$28K	5.5x
Short	Variational Omni SPCX	152.59	0.0102	get 0.0102% / 8h	2h 17m	$6.0M	$2.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.073%Rate

Funding earned: −$71.01
Price spread: −0.073% → 0.000%: −$7.32
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$78.34
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Variational Omni: RFQ quote, 2 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 Variational Omni RFQ quote, 2 min ago	2.33 bp	doesn't fit	3.6 bp −$36	doesn't fit	doesn't fit

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 −0.0187% / S +0.0435%	1h	152.56	−0.092%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0008%	8h	152.64	−0.039%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.70	0.000%	$30.6M	$42.7M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.66	−0.026%	$96.2M	$31.8M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.70	0.000%	$31.3M	$65.8M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.986%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.69	−0.007%	$300K	$2.8M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.82	+0.079%	$8K	$906K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	0.0000%	1h	152.62	−0.052%	$88K	$1.3M	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.74	+0.026%	$1.3M	$1.8M	75x	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	+0.0019%	1h	152.49	−0.135%	$7K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.62	−0.052%	$1.6M	$7.4M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.61	−0.059%	$2.5M	$7.3M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.55	−0.098%	$105K	$297K	5x	as long as short
QFEX SPCX-USD	+0.0043%	1h	152.63	−0.046%	$1.2M	$5.5M	10x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.67	−0.020%	—	$1.2M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.55	−0.098%	$130.9M	$128.7M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.62	−0.052%	$488K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.65	−0.033%	$1.7M	$96K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.70	0.000%	$531K	$387K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.47	−0.151%	$3.2M	$2.3M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0058%	8h	152.70	+0.003%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.58	−0.079%	$169K	$118K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.58	−0.079%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.53	−0.111%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.68	−0.013%	$15K	$7K	10x	as long as short
Variational Omni SPCXshort	+0.0102%	8h	152.59	−0.073%	$6.0M	$2.8M	—
Aevo SPCX-PERP	+0.0104%	1h	152.67	−0.023%	$89	—	10x	as long as short
Nado SPCX-PERP	+0.0110%	1h	152.64	−0.040%	$612K	$803K	20x	as long as short
Binance SPCXUSDT	+0.0112%	8h	152.67	−0.017%	$250.5M	$1.36B	75x	as long as short
Extended SPCX-USD	+0.0112%	1h	152.64	−0.039%	$731K	$4.6M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0120%	8h	152.70	0.000%	$39.5M	$166.6M	75x	as long as short
Bullet SPCX-USD	+0.0143%	1h	152.68	−0.014%	$12K	$193K	10x	as long as short
RISEx SPCX/USDC	+0.0238%	1h	152.70	0.000%	$409K	$513K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0248%	1h	152.62	−0.052%	$732K	$932K	10x	as long as short
Phoenix SPCX	+0.0263%	1h	152.58	−0.079%	$444K	$266K	15x	as long as short
Aster SPCXUSD1	+0.0368%	8h	152.69	−0.006%	$18.9M	$24.7M	20x	as long as short
Injective SPCX/USDC PERPlong	+0.0440%	1h	152.70	long leg	$9K	$28K	5.5x
edgeX SPCXUSDC	+0.0990%	4h	152.59	−0.073%	$1.7M	$892K	20x	as long as short