Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0018%/8h= +2.0% APRpaid last 24h +0.001%

Price spread now: Phemex against Lighter+0.013%7-day average −0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$570.568% of the position

Long on Lighter Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.112%−$11 on $10k

Price spread, last 4 days (all we have)−0.360%−$36 · spread now +0.013%, 7d avg −0.040%

Together, before fees−0.473%+ Points / potential airdropLighter: Season 3 · farm board−$47 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Phemex is 0.053% dearer against Lighter than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.040%. Mind the row above: over the last 7 days funding on this pair cost −0.112%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter SPCX	152.00	0.0032	pay 0.0004% / 1h	26m 31s	$1.6M	$7.4M	20x
Short	Phemex SPCXUSDT	152.02	0.0050	get 0.0050% / 8h	7h 26m	$529K	$363K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.013%Rate

Funding earned: $3.78
Price spread: +0.013% → −0.040%: $5.33
Slippage, 4 orders: −$44.82
Fee Lighter: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$47.71
Costs to cover: 0.568%
Break-even: 95.4 days

Slippage from Lighter: live order book, 7 min ago; Phemex: live order book, 6 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, 7 min ago	0.33 bp	0.8 bp −$1	1.9 bp −$19	8.8 bp −$884	doesn't fit
Sell Phemex live order book, 6 min ago	0.33 bp	13.7 bp −$14	doesn't fit	doesn't fit	doesn't fit

SPCX on 38 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	151.97	−0.023%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0022%	8h	152.03	+0.020%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.07	+0.046%	$30.4M	$43.3M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.00	0.000%	$96.1M	$32.3M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.05	+0.033%	$30.9M	$66.9M	75x	as long as short
StandX SPCX-USD	0.0000%	1h	152.02	+0.013%	$299K	$2.6M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.20	+0.132%	$8K	$850K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.13	+0.086%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0021%	1h	151.99	−0.005%	$7K	$7K	10x	as long as short
Lighter SPCXlong	+0.0032%	1h	152.00	long leg	$1.6M	$7.4M	20x

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SPCX	+0.0032%	1h	151.98	−0.013%	$2.5M	$7.3M	20x	as long as short
QFEX SPCX-USD	+0.0035%	1h	152.05	+0.033%	$1.2M	$5.4M	10x	as long as short
Arcus SPCX-USD	+0.0040%	1h	151.99	−0.007%	$102K	$299K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.04	+0.026%	—	$1.2M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	151.91	−0.059%	$129.3M	$129.7M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	151.97	−0.020%	$487K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.02	+0.013%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDTshort	+0.0050%	8h	152.02	+0.013%	$529K	$363K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	151.91	−0.059%	$3.1M	$2.2M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0061%	8h	152.06	+0.042%	$100	—	5x	as long as short
Variational Omni SPCX	+0.0081%	8h	152.06	+0.039%	$5.9M	$2.8M	—	as long as short
Extended SPCX-USD	+0.0096%	1h	152.03	+0.020%	$725K	$5.3M	10x	as long as short
Binance SPCXUSDT	+0.0098%	8h	152.02	+0.013%	$254.1M	$1.37B	75x	as long as short
Pacifica SPCX	+0.0100%	1h	151.97	−0.020%	$168K	$117K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	151.97	−0.020%	$12.9M	$5.7M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	151.97	−0.020%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.06	+0.039%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.00	0.000%	$88	—	10x	as long as short
Nado SPCX-PERP	+0.0112%	1h	151.99	−0.003%	$635K	$813K	20x	as long as short
OKX SPCX-USDT-SWAP	+0.0113%	8h	152.05	+0.033%	$39.2M	$167.7M	75x	as long as short
Bullet SPCX-USD	+0.0132%	1h	152.00	0.000%	$10K	$192K	10x	as long as short
edgeX SPCXUSDC	+0.0156%	4h	152.05	+0.032%	$1.7M	$891K	20x	as long as short
RISEx SPCX/USDC	+0.0190%	1h	152.06	+0.039%	$380K	$507K	20x	as long as short
Phoenix SPCX	+0.0210%	1h	152.01	+0.007%	$447K	$268K	15x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0211%	1h	152.03	+0.020%	$85K	$1.4M	10x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0280%	1h	152.03	+0.020%	$693K	$997K	10x	as long as short
Aster SPCXUSD1	+0.0381%	8h	152.14	+0.091%	$18.9M	$30.7M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.51	+0.336%	$9K	$28K	5.5x	as long as short