Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0050%/8h= +5.4% APRpaid last 24h −0.027%

Price spread now: BloFin against Lighter0.000%90s7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as 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−$140.142% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.282%−$28 on $10k

Price spread, last 3 days (all we have)−0.033%−$3 · spread now 0.000%, 7d avg +0.024%

Together, before fees−0.315%+ Points / potential airdropLighter: Season 3 · farm board−$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.024% cheaper against Lighter than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.024%). If the spread goes back, that is −$2 on $10k: about 38 hours of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.282%, so the current rate has only just turned in your favour. The two prices were read 90 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	Lighter SPCX	153.05	0.0040	pay 0.0005% / 1h	53m 33s	$1.6M	$7.4M	20x
Short	BloFin SPCX-USDT	153.05	0.0090	get 0.0090% / 8h	7h 53m	$1.9M	$1.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Lighter. 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 LighterbpFee BloFinbpOrdersPrice spread, now 0.000%Rate

Funding earned: $10.41
Price spread: 0.000% → +0.024%: −$2.36
Slippage, 4 orders: −$2.25
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$6.2
Costs to cover: 0.142%
Break-even: 11.2 days

Slippage from Lighter: live order book, 5 min ago; BloFin: 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 Lighter live order book, 5 min ago	0.33 bp	0.3 bp $0	1.8 bp −$18	9.4 bp −$937	doesn't fit
Sell BloFin live order book, 4 min ago	0.33 bp	6.8 bp −$7	8.5 bp −$85	11.9 bp −$1,189	19.2 bp −$9,610

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 −0.0293% / S +0.0503%	1h	153.01	−0.023%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.07	+0.013%	$96.6M	$31.0M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.51	+12.718%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.95	−0.065%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.27	+0.144%	$8K	$965K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.04	−0.007%	$1.3M	$1.7M	75x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0011%	1h	153.05	0.000%	$71K	$1.0M	10x	as long as short
Aftermath Perps SPCXUSD	+0.0028%	1h	152.85	−0.131%	$7K	$8K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	153.03	−0.013%	$2.5M	$7.4M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+2.744%	$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
Lighter SPCXlong	+0.0040%	1h	153.05	long leg	$1.6M	$7.4M	20x
Vest SPCX-USD-PERP	+0.0046%	1h	153.12	+0.046%	—	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.05	0.000%	$1.7M	$81K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.99	−0.039%	$535K	$414K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.92	−0.085%	$3.2M	$2.7M	10x	as long as short
Bybit SPCXUSDT	+0.0063%	8h	153.12	+0.046%	$30.8M	$42.8M	100x	as long as short
QFEX SPCX-USD	+0.0063%	1h	153.06	+0.007%	$1.2M	$7.6M	10x	as long as short
BloFin SPCX-USDTshort	+0.0090%	8h	153.05	0.000%	$1.9M	$1.4M	75x
Pacifica SPCX	+0.0100%	1h	153.00	−0.033%	$173K	$129K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	153.00	−0.033%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.93	−0.078%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.09	+0.026%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.00	−0.033%	$89	—	10x	as long as short
Paradex SPCX-USD-PERP	+0.0104%	8h	153.10	+0.032%	$101	—	5x	as long as short
Nado SPCX-PERP	+0.0172%	1h	153.02	−0.017%	$602K	$880K	20x	as long as short
Variational Omni SPCX	+0.0192%	8h	153.05	+0.003%	$6.0M	$3.5M	—	as long as short
Arcus SPCX-USD	+0.0194%	1h	152.97	−0.052%	$105K	$297K	5x	as long as short
OKX SPCX-USDT-SWAP	+0.0201%	8h	153.10	+0.033%	$39.1M	$169.3M	75x	as long as short
Extended SPCX-USD	+0.0208%	1h	153.07	+0.013%	$734K	$3.7M	10x	as long as short
Binance SPCXUSDT	+0.0209%	8h	153.10	+0.033%	$252.9M	$1.38B	75x	as long as short
Phoenix SPCX	+0.0261%	1h	153.03	−0.013%	$445K	$271K	15x	as long as short
Polymarket Perps SPCX-USD	+0.0322%	1h	153.02	−0.020%	$490K	$1.1M	10x	as long as short
Aster SPCXUSD1	+0.0322%	8h	153.07	+0.014%	$19.0M	$21.2M	20x	as long as short
Bitget SPCXUSDT	+0.0328%	8h	153.14	+0.059%	$31.3M	$66.7M	75x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0328%	1h	152.97	−0.052%	$733K	$970K	10x	as long as short
RISEx SPCX/USDC	+0.0409%	1h	153.13	+0.052%	$401K	$535K	20x	as long as short
tradeXYZ xyz:SPCX	+0.0453%	1h	153.03	−0.013%	$143.4M	$119.2M	20x	as long as short
Bullet SPCX-USD	+0.0523%	1h	153.06	+0.010%	$11K	$187K	10x	as long as short
edgeX SPCXUSDC	+0.0706%	4h	153.00	−0.035%	$1.7M	$892K	20x	as long as short