Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0162%/8h= −17.7% APRpaid last 24h −0.033%

Price spread now: Variational Omni against Nado+0.094%7-day average +0.013% · you sell dearer than you buy

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

Long on Nado Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.063%−$6 on $10k

Price spread, last 7 days−0.107%−$11 · spread now +0.094%, 7d avg +0.013%

Together, before fees−0.170%+ Points / potential airdropNado: Active · Variational Omni: Active · farm board−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.080% dearer against Nado than usual: you sell high and buy low (spread +0.094% now, against its 7-day average of +0.013%): +$8 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 40 hours. At the pace of the last 3 days (−0.063% in total) that is about 4.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado SPCX-PERP	152.24	0.0251	pay 0.0031% / 1h	31m 38s	$626K	$808K	20x
Short	Variational Omni SPCX	152.38	0.0090	get 0.0090% / 8h	1h 31m	$5.9M	$2.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Nado. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now +0.094%Rate

Funding earned: −$33.92
Price spread: +0.094% → +0.013%: $8.04
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$32.88
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Nado: live order book, 12 min ago; Variational Omni: RFQ quote, 3 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 Nado live order book, 12 min ago	0.33 bp	9.3 bp −$9	53.9 bp −$539	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	2.33 bp	doesn't fit	2.5 bp −$25	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 −0.0187% / S +0.0435%	1h	152.31	+0.046%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0008%	8h	152.41	+0.115%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.43	+0.128%	$30.6M	$42.7M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.36	+0.082%	$96.1M	$31.9M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.42	+0.121%	$31.2M	$66.0M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+13.327%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.38	+0.095%	$300K	$2.7M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.67	+0.285%	$8K	$896K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.47	+0.154%	$1.3M	$1.8M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0025%	1h	152.34	+0.070%	$7K	$8K	10x	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	152.32	+0.056%	$2.5M	$7.3M	20x	as long as short
QFEX SPCX-USD	+0.0038%	1h	152.40	+0.108%	$1.2M	$5.5M	10x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.33	+0.062%	$103K	$299K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.33	+0.062%	—	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.37	+0.088%	$1.7M	$97K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.37	+0.088%	$531K	$380K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.25	+0.010%	$3.2M	$2.2M	10x	as long as short
RISEx SPCX/USDC	+0.0072%	1h	152.46	+0.144%	$399K	$502K	20x	as long as short
Variational Omni SPCXshort	+0.0090%	8h	152.38	+0.094%	$5.9M	$2.8M	—
Paradex SPCX-USD-PERP	+0.0100%	8h	152.42	+0.119%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.34	+0.069%	$169K	$120K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.28	+0.029%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.37	+0.088%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.40	+0.108%	$14K	$7K	10x	as long as short
tradeXYZ xyz:SPCX	+0.0102%	1h	152.31	+0.049%	$129.9M	$129.1M	20x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.38	+0.097%	$88	—	10x	as long as short
Extended SPCX-USD	+0.0112%	1h	152.40	+0.110%	$733K	$3.7M	10x	as long as short
Binance SPCXUSDT	+0.0115%	8h	152.42	+0.121%	$251.5M	$1.36B	75x	as long as short
OKX SPCX-USDT-SWAP	+0.0123%	8h	152.43	+0.128%	$39.5M	$166.7M	75x	as long as short
Polymarket Perps SPCX-USD	+0.0126%	1h	152.38	+0.095%	$487K	$1.2M	10x	as long as short
Lighter SPCX	+0.0128%	1h	152.34	+0.069%	$1.6M	$7.4M	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0192%	1h	152.36	+0.082%	$732K	$938K	10x	as long as short
edgeX SPCXUSDC	+0.0209%	4h	152.39	+0.104%	$1.7M	$892K	20x	as long as short
Phoenix SPCX	+0.0210%	1h	152.38	+0.095%	$443K	$266K	15x	as long as short
Nado SPCX-PERPlong	+0.0251%	1h	152.24	long leg	$626K	$808K	20x
Bullet SPCX-USD	+0.0283%	1h	152.40	+0.110%	$11K	$192K	10x	as long as short
Aster SPCXUSD1	+0.0378%	8h	152.55	+0.208%	$18.9M	$27.9M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.81	+0.377%	$9K	$28K	5.5x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0538%	1h	152.35	+0.075%	$89K	$1.3M	10x	as long as short