Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0305%/8h= +33.3% APRpaid last 24h +0.028%

Price spread now: Deribit against KuCoin+0.065%7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$450.454% of the position

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.107%+$11 on $10k

Price spread, last 3 days (all we have)−0.106%−$11 · spread now +0.065%, 7d avg +0.041%

Together, before fees0.000%$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Deribit is 0.024% dearer against KuCoin than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.041%.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid 0.107% in total (about 8.4% 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	KuCoin SPCXUSDTM	152.78	0.0100	pay 0.0100% / 8h	19m 33s	$13.0M	$5.5M	20x
Short	Deribit SPCX_USDC-PERPETUAL	152.88	0.0405	get 0.0051% / 1h	19m 33s	$71K	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against KuCoin. 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 KuCoinbpFee DeribitbpOrdersPrice spread, now +0.065%Rate

Funding earned: $63.95
Price spread: +0.065% → +0.041%: $2.43
Slippage, 4 orders: −$26.41
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $20.97
Costs to cover: 0.454%
Break-even: 4.7 days

Slippage from KuCoin: live order book, 4 min ago; Deribit: live order book, 4 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 KuCoin live order book, 4 min ago	0.98 bp	11.7 bp −$12	46.4 bp −$464	doesn't fit	doesn't fit
Sell Deribit live order book, 4 min ago	6.21 bp	10.4 bp −$10	14.4 bp −$144	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 −0.0277% / S +0.0492%	1h	152.90	+0.075%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.88	+0.065%	$96.6M	$31.4M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.918%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.82	+0.026%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.10	+0.209%	$8K	$972K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.91	+0.085%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0030%	1h	152.82	+0.028%	$7K	$10K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.82	+0.026%	$2.5M	$7.6M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+2.926%	$9K	$27K	5.5x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.83	+0.033%	$105K	$297K	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SPCX-USD-PERP	+0.0046%	1h	152.86	+0.052%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.86	+0.052%	$489K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.91	+0.085%	$1.7M	$79K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.86	+0.052%	$535K	$410K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.79	+0.007%	$3.2M	$2.8M	10x	as long as short
QFEX SPCX-USD	+0.0052%	1h	152.86	+0.052%	$1.2M	$7.7M	10x	as long as short
BloFin SPCX-USDT	+0.0077%	8h	152.96	+0.118%	$1.9M	$1.4M	75x	as long as short
Lighter SPCX	+0.0088%	1h	152.86	+0.052%	$1.6M	$7.4M	20x	as long as short
Paradex SPCX-USD-PERP	+0.0091%	8h	152.91	+0.082%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.82	+0.026%	$173K	$130K	10x	as long as short
KuCoin SPCXUSDTMlong	+0.0100%	8h	152.78	long leg	$13.0M	$5.5M	20x
ApeX Omni SPCXUSDT	+0.0100%	1h	152.85	+0.046%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.91	+0.085%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.93	+0.100%	$89	—	10x	as long as short
Bullet SPCX-USD	+0.0142%	1h	152.93	+0.098%	$11K	$188K	10x	as long as short
Bybit SPCXUSDT	+0.0150%	8h	152.90	+0.079%	$30.7M	$42.8M	100x	as long as short
Variational Omni SPCX	+0.0176%	8h	152.93	+0.101%	$6.0M	$3.5M	—	as long as short
OKX SPCX-USDT-SWAP	+0.0195%	8h	152.91	+0.085%	$38.9M	$169.4M	75x	as long as short
Binance SPCXUSDT	+0.0198%	8h	152.91	+0.085%	$253.1M	$1.39B	75x	as long as short
Extended SPCX-USD	+0.0200%	1h	152.87	+0.060%	$734K	$3.6M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0252%	1h	152.87	+0.059%	$143.5M	$119.4M	20x	as long as short
Phoenix SPCX	+0.0261%	1h	152.91	+0.085%	$446K	$269K	15x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0280%	1h	152.97	+0.124%	$733K	$970K	10x	as long as short
edgeX SPCXUSDC	+0.0281%	4h	152.91	+0.087%	$1.7M	$892K	20x	as long as short
Nado SPCX-PERP	+0.0294%	1h	152.77	−0.008%	$601K	$885K	20x	as long as short
Aster SPCXUSD1	+0.0295%	8h	152.98	+0.131%	$19.0M	$21.3M	20x	as long as short
Bitget SPCXUSDT	+0.0310%	8h	152.92	+0.092%	$31.2M	$67.3M	75x	as long as short
RISEx SPCX/USDC	+0.0339%	1h	152.94	+0.108%	$403K	$539K	20x	as long as short
Deribit SPCX_USDC-PERPETUALshort	+0.0405%	1h	152.88	+0.065%	$71K	$1.0M	10x