Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0258%/8h= −28.2% APRpaid last 24h −0.049%

Price spread now: Gate against Nado+0.070%7-day average −0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$360.355% of the position

Long on Nado Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.076%−$8 on $10k

Price spread, last 7 days−0.109%−$11 · spread now +0.070%, 7d avg −0.020%

Together, before fees−0.186%+ Points / potential airdropNado: Active · farm board−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.090% dearer against Nado than usual: you sell high and buy low (spread +0.070% now, against its 7-day average of −0.020%): +$9 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 28 hours. At the pace of the last 3 days (−0.076% in total) that is about 4.0 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.076% in total (about -8.2% 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	Nado SPCX-PERP	152.81	0.0258	pay 0.0032% / 1h	53m 36s	$616K	$813K	20x
Short	Gate SPCX_USDT	152.92	0	get 0.0000% / 8h	3h 53m	$96.2M	$31.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Nado. 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 NadobpFee GatebpOrdersPrice spread, now +0.070%Rate

Funding earned: −$54.1
Price spread: +0.070% → −0.020%: $8.98
Slippage, 4 orders: −$13.54
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$80.67
Costs to cover: 0.355%
Break-even: never at this rate

Slippage from Nado: live order book, 65 min ago; Gate: live order book, 5 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 Nado live order book, 65 min ago	0.33 bp	7.3 bp −$7	26.0 bp −$260	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	0.33 bp	10.0 bp −$10	16.6 bp −$166	34.4 bp −$3,441	54.8 bp −$27.4K

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 −0.0214% / S +0.0456%	1h	152.91	+0.060%	$90K	—	20x	as long as short
Gate SPCX_USDTshort	0.0000%	8h	152.92	+0.070%	$96.2M	$31.1M	100x
Bitget SPCXUSDT	0.0000%	8h	152.97	+0.103%	$31.8M	$65.3M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.903%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.97	+0.103%	$301K	$2.9M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.16	+0.227%	$7K	$935K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.95	+0.090%	$1.3M	$1.7M	75x	as long as short
Bybit SPCXUSDT	+0.0001%	8h	152.94	+0.083%	$30.7M	$42.6M	100x	as long as short
Aftermath Perps SPCXUSD	+0.0029%	1h	152.93	+0.078%	$7K	$8K	10x	as long as short
BloFin SPCX-USDT	+0.0031%	8h	152.97	+0.103%	$1.9M	$1.3M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SPCX	+0.0032%	1h	152.87	+0.037%	$2.5M	$7.2M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.88	+0.044%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.90	+0.057%	—	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.91	+0.064%	$1.7M	$95K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.92	+0.070%	$532K	$390K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.80	−0.008%	$3.2M	$2.4M	10x	as long as short
QFEX SPCX-USD	+0.0050%	1h	152.90	+0.057%	$1.2M	$5.9M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0069%	1h	152.90	+0.057%	$499K	$1.2M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0090%	8h	152.93	+0.078%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.85	+0.024%	$169K	$129K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.87	+0.037%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.85	+0.024%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.96	+0.096%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.93	+0.078%	$89	—	10x	as long as short
Variational Omni SPCX	+0.0136%	8h	152.96	+0.095%	$6.0M	$2.9M	—	as long as short
Lighter SPCX	+0.0144%	1h	152.89	+0.051%	$1.6M	$7.3M	20x	as long as short
Binance SPCXUSDT	+0.0151%	8h	152.92	+0.071%	$248.1M	$1.36B	75x	as long as short
Extended SPCX-USD	+0.0152%	1h	152.89	+0.051%	$734K	$3.8M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0154%	8h	152.95	+0.090%	$39.6M	$166.6M	75x	as long as short
edgeX SPCXUSDC	+0.0209%	4h	152.92	+0.071%	$1.7M	$892K	20x	as long as short
RISEx SPCX/USDC	+0.0217%	1h	152.97	+0.106%	$409K	$517K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0248%	1h	152.90	+0.057%	$741K	$939K	10x	as long as short
Nado SPCX-PERPlong	+0.0258%	1h	152.81	long leg	$616K	$813K	20x
Phoenix SPCX	+0.0261%	1h	152.95	+0.090%	$445K	$264K	15x	as long as short
tradeXYZ xyz:SPCX	+0.0293%	1h	152.90	+0.057%	$141.3M	$119.1M	20x	as long as short
Bullet SPCX-USD	+0.0297%	1h	152.94	+0.083%	$12K	$192K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0339%	1h	152.90	+0.057%	$84K	$1.2M	10x	as long as short
Aster SPCXUSD1	+0.0422%	8h	153.05	+0.154%	$19.0M	$21.6M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.32	+0.332%	$9K	$28K	5.5x	as long as short