Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0214%/8h= +23.5% APRpaid last 24h +0.019%

Price spread now: Phoenix against KuCoin+0.066%78s7-day average +0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$370.370% of the position

Long on KuCoin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.082%+$8 on $10k

Price spread, last 3 days (all we have)+0.104%+$10 · spread now +0.066%, 7d avg +0.057%

Together, before fees+0.186%+$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.057%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate. The two prices were read 78 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.082% in total (about 4.3% 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	152.55	0.0100	pay 0.0100% / 8h	1h 08m	$13.0M	$5.5M	20x
Short	Phoenix SPCX	152.65	0.0314	get 0.0039% / 1h	8m 12s	$445K	$196K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.066%Rate

Funding earned: $45.01
Price spread: +0.066% → +0.057%: $0.9
Slippage, 4 orders: −$18.04
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $8.88
Costs to cover: 0.370%
Break-even: 5.6 days

Slippage from KuCoin: live order book, 5 min ago; Phoenix: live order book, 9 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, 5 min ago	0.33 bp	11.9 bp −$12	35.9 bp −$359	doesn't fit	doesn't fit
Sell Phoenix live order book, 9 min ago	0.33 bp	5.3 bp −$5	18.0 bp −$180	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 −0.0272% / S +0.0488%	1h	152.66	+0.069%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.68	+0.085%	$96.6M	$30.9M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+13.088%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.70	+0.098%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.89	+0.223%	$8K	$977K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.69	+0.092%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0026%	1h	152.57	+0.015%	$7K	$10K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.60	+0.033%	$1.7M	$7.2M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.60	+0.033%	$2.5M	$7.6M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+3.081%	$9K	$27K	5.5x	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	152.62	+0.046%	—	$1.1M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.64	+0.059%	$489K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.66	+0.072%	$1.7M	$79K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.68	+0.085%	$538K	$404K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.52	−0.020%	$3.2M	$2.6M	10x	as long as short
QFEX SPCX-USD	+0.0066%	1h	152.67	+0.079%	$1.2M	$7.6M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0079%	8h	152.65	+0.069%	$101	—	5x	as long as short
BloFin SPCX-USDT	+0.0080%	8h	152.66	+0.072%	$1.9M	$1.4M	75x	as long as short
Pacifica SPCX	+0.0100%	1h	152.58	+0.020%	$175K	$133K	10x	as long as short
KuCoin SPCXUSDTMlong	+0.0100%	8h	152.55	long leg	$13.0M	$5.5M	20x
ApeX Omni SPCXUSDT	+0.0100%	1h	152.65	+0.066%	$58K	$270K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.67	+0.079%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.69	+0.090%	$89	—	10x	as long as short
Bullet SPCX-USD	+0.0123%	1h	152.68	+0.084%	$11K	$188K	10x	as long as short
Bybit SPCXUSDT	+0.0145%	8h	152.71	+0.105%	$30.8M	$42.4M	100x	as long as short
tradeXYZ xyz:SPCX	+0.0172%	1h	152.65	+0.066%	$131.0M	$108.0M	20x	as long as short
Variational Omni SPCX	+0.0178%	8h	152.64	+0.062%	$6.0M	$3.9M	—	as long as short
OKX SPCX-USDT-SWAP	+0.0191%	8h	152.71	+0.105%	$39.0M	$168.6M	75x	as long as short
Extended SPCX-USD	+0.0200%	1h	152.65	+0.068%	$739K	$3.6M	10x	as long as short
Binance SPCXUSDT	+0.0201%	8h	152.69	+0.093%	$255.6M	$1.38B	75x	as long as short
Arcus SPCX-USD	+0.0227%	1h	152.61	+0.039%	$106K	$296K	5x	as long as short
Nado SPCX-PERP	+0.0248%	1h	152.54	−0.006%	$625K	$872K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	152.63	+0.052%	$741K	$947K	10x	as long as short
Aster SPCXUSD1	+0.0256%	8h	152.75	+0.131%	$19.0M	$21.9M	20x	as long as short
Phoenix SPCXshort	+0.0314%	1h	152.65	+0.066%	$445K	$196K	15x
Bitget SPCXUSDT	+0.0317%	8h	152.70	+0.098%	$31.1M	$66.5M	75x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0406%	1h	152.64	+0.059%	$70K	$1.1M	10x	as long as short
RISEx SPCX/USDC	+0.0543%	1h	152.71	+0.103%	$402K	$548K	20x	as long as short
edgeX SPCXUSDC	+0.0798%	4h	152.65	+0.064%	$1.7M	$892K	20x	as long as short