SPCX

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0178%/8h= +19.5% APRnext payment +$0.22 per $10,000 · paid last 24h +0.051%

Price spread now: Phoenix against Lighter−0.013%74s7-day average +0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as 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−$160.158% of the position

Long on Lighter Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.026%+$3 on $10k

Price spread, last 4 days (all we have)+0.362%+$36 · spread now −0.013%, 7d avg +0.028%

Together, before fees+0.388%+ Points / potential airdropLighter: Season 3 · farm board+$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.042% cheaper against Lighter than usual: you would sell low and buy high (spread −0.013% now, against its 7-day average of +0.028%). If the spread goes back, that is −$4 on $10k: about 19 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.026% in total) that is about 11 days. The two prices were read 74 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	152.70	0.0032	pay 0.0004% / 1h	2m 07s	$1.6M	$7.4M	20x
Short	Phoenix SPCX	152.68	0.0210	get 0.0026% / 1h	2m 07s	$448K	$268K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.013%Rate

Funding earned: $37.42
Price spread: −0.013% → +0.028%: −$4.16
Slippage, 4 orders: −$8.79
Fee Lighter: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $17.47
Costs to cover: 0.158%
Break-even: 3.7 days

Slippage from Lighter: live order book, 6 min ago; Phoenix: live order book, 30 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, 6 min ago	0.65 bp	1.2 bp −$1	2.9 bp −$29	8.7 bp −$871	doesn't fit
Sell Phoenix live order book, 30 min ago	0.33 bp	6.3 bp −$6	23.0 bp −$230	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	152.71	+0.003%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0018%	8h	152.67	−0.020%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.78	+0.052%	$30.5M	$43.2M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.75	+0.033%	$96.1M	$32.8M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.81	+0.072%	$31.0M	$66.7M	75x	as long as short
StandX SPCX-USD	0.0000%	1h	152.65	−0.033%	$300K	$2.6M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.97	+0.177%	$8K	$841K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.74	+0.026%	$1.3M	$1.7M	75x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0012%	1h	152.72	+0.013%	$82K	$1.4M	10x	as long as short
Aftermath Perps SPCXUSD	+0.0015%	1h	152.60	−0.066%	$7K	$7K	10x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SPCXlong	+0.0032%	1h	152.70	long leg	$1.6M	$7.4M	20x
Lighter RH SPCX	+0.0032%	1h	152.68	−0.013%	$2.5M	$7.3M	20x	as long as short
QFEX SPCX-USD	+0.0035%	1h	152.68	−0.013%	$1.2M	$5.4M	10x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.63	−0.046%	$103K	$295K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.73	+0.020%	—	$1.2M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.74	+0.026%	$129.8M	$130.2M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.74	+0.026%	$489K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.72	+0.013%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.71	+0.007%	$531K	$363K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.53	−0.111%	$3.1M	$2.2M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0057%	8h	152.72	+0.012%	$101	—	5x	as long as short
Variational Omni SPCX	+0.0088%	8h	152.69	−0.007%	$5.9M	$2.7M	—	as long as short
Nado SPCX-PERP	+0.0094%	1h	152.65	−0.032%	$633K	$808K	20x	as long as short
Bullet SPCX-USD	+0.0096%	1h	152.75	+0.033%	$11K	$191K	10x	as long as short
Extended SPCX-USD	+0.0096%	1h	152.69	−0.005%	$723K	$5.4M	10x	as long as short
Binance SPCXUSDT	+0.0099%	8h	152.78	+0.049%	$252.9M	$1.37B	75x	as long as short
Pacifica SPCX	+0.0100%	1h	152.65	−0.033%	$169K	$117K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.59	−0.072%	$13.0M	$5.9M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.70	0.000%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.74	+0.026%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.70	0.000%	$89	—	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0107%	8h	152.80	+0.065%	$39.4M	$168.7M	75x	as long as short
RISEx SPCX/USDC	+0.0190%	1h	152.69	−0.003%	$382K	$507K	20x	as long as short
Phoenix SPCXshort	+0.0210%	1h	152.68	−0.013%	$448K	$268K	15x
Coinbase International SPCX-PERP-INTX	+0.0280%	1h	152.67	−0.020%	$687K	$1.0M	10x	as long as short
Aster SPCXUSD1	+0.0399%	8h	152.90	+0.130%	$19.0M	$30.7M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.78	+0.052%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0726%	4h	152.71	+0.009%	$1.7M	$890K	20x	as long as short