Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0197%/8h= +21.6% APRpaid last 24h +0.007%

Price spread now: Variational Omni against Lighter0.000%7-day average +0.042% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.015%−$2 on $10k

Price spread, last 7 days+0.019%+$2 · spread now 0.000%, 7d avg +0.042%

Together, before fees+0.004%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board$0 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.042% cheaper against Lighter than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.042%). If the spread goes back, that is −$4 on $10k: about 17 hours of funding at the current rate (+$6 a day).

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.015% in total (about -1.6% 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	Lighter SPCX	153.08	0.0032	pay 0.0004% / 1h	7m 22s	$1.6M	$7.4M	20x
Short	Variational Omni SPCX	153.08	0.0229	get 0.0229% / 8h	7h 07m	$6.0M	$3.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now 0.000%Rate

Funding earned: $41.41
Price spread: 0.000% → +0.042%: −$4.21
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $37.2
Costs to cover: 0.000%
Break-even: 0.7 days

Slippage unknown: Lighter: live order book, 6 min ago; Variational Omni: RFQ quote, 2 min ago. Net counts fees only.

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	0.33 bp	0.3 bp $0	2.4 bp −$24	12.9 bp −$1,287	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	2.35 bp	doesn't fit	2.6 bp −$26	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 −0.0327% / S +0.0527%	1h	153.10	+0.016%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.14	+0.039%	$96.4M	$31.3M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.699%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	153.05	−0.020%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.34	+0.170%	$8K	$954K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	0.0000%	1h	153.09	+0.007%	$72K	$1.1M	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.17	+0.059%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0026%	1h	153.00	−0.053%	$8K	$8K	10x	as long as short
Lighter SPCXlong	+0.0032%	1h	153.08	long leg	$1.6M	$7.4M	20x
Lighter RH SPCX	+0.0032%	1h	153.07	−0.007%	$2.5M	$7.5M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+2.724%	$9K	$27K	5.5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.18	+0.065%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	153.11	+0.020%	$489K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.11	+0.020%	$1.7M	$86K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	153.12	+0.026%	$534K	$407K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.97	−0.072%	$3.2M	$2.6M	10x	as long as short
QFEX SPCX-USD	+0.0063%	1h	153.11	+0.020%	$1.2M	$7.2M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0093%	8h	153.14	+0.041%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	153.07	−0.007%	$173K	$129K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	153.04	−0.026%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.04	−0.026%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.16	+0.052%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.14	+0.040%	$89	—	10x	as long as short
BloFin SPCX-USDT	+0.0123%	8h	153.15	+0.046%	$1.9M	$1.4M	75x	as long as short
Bybit SPCXUSDT	+0.0139%	8h	153.16	+0.052%	$30.9M	$42.8M	100x	as long as short
Arcus SPCX-USD	+0.0194%	1h	153.05	−0.020%	$105K	$297K	5x	as long as short
tradeXYZ xyz:SPCX	+0.0209%	1h	153.11	+0.020%	$143.1M	$119.1M	20x	as long as short
OKX SPCX-USDT-SWAP	+0.0216%	8h	153.15	+0.046%	$39.3M	$169.1M	75x	as long as short
Bullet SPCX-USD	+0.0216%	1h	153.14	+0.039%	$11K	$189K	10x	as long as short
Variational Omni SPCXshort	+0.0229%	8h	153.08	0.000%	$6.0M	$3.5M	—
Nado SPCX-PERP	+0.0237%	1h	153.10	+0.010%	$621K	$852K	20x	as long as short
Extended SPCX-USD	+0.0240%	1h	153.10	+0.014%	$734K	$3.9M	10x	as long as short
Binance SPCXUSDT	+0.0243%	8h	153.14	+0.038%	$252.8M	$1.38B	75x	as long as short
Bitget SPCXUSDT	+0.0294%	8h	153.18	+0.065%	$31.7M	$66.7M	75x	as long as short
Phoenix SPCX	+0.0314%	1h	153.11	+0.020%	$445K	$271K	15x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0328%	1h	153.14	+0.039%	$728K	$986K	10x	as long as short
Aster SPCXUSD1	+0.0388%	8h	153.14	+0.038%	$19.0M	$18.6M	20x	as long as short
RISEx SPCX/USDC	+0.0409%	1h	153.17	+0.059%	$401K	$535K	20x	as long as short
edgeX SPCXUSDC	+0.0902%	4h	153.10	+0.012%	$1.7M	$892K	20x	as long as short