Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0037%/8h= −4.1% APRpaid last 24h +0.006%

Price spread now: Bullet against OKX−0.011%7-day average +0.014% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$220.216% of the position

Long on OKX Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.087%+$9 on $10k

Price spread, last 4 days (all we have)+0.500%+$50 · spread now −0.011%, 7d avg +0.014%

Together, before fees+0.587%+$59 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bullet is 0.025% cheaper against OKX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.014%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.087%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SPCX-USDT-SWAP	152.24	0.0117	pay 0.0117% / 8h	7h 35m	$39.4M	$167.3M	75x
Short	Bullet SPCX-USD	152.22	0.0080	get 0.0010% / 1h	35m 36s	$11K	$192K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against OKX. 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 OKXbpFee BulletbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$7.78
Price spread: −0.011% → +0.014%: −$2.5
Slippage, 4 orders: −$3.61
Fee OKX: 5 bp × 2 orders: −$10
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$31.88
Costs to cover: 0.216%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Bullet: live order book, 63 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 OKX live order book, 3 min ago	0.33 bp	5.4 bp −$5	6.6 bp −$66	12.2 bp −$1,222	doesn't fit
Sell Bullet live order book, 63 min ago	0.33 bp	5.3 bp −$5	20.1 bp −$201	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	152.15	−0.062%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0015%	8h	152.31	+0.046%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.22	−0.013%	$30.4M	$43.0M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.20	−0.026%	$96.2M	$32.1M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.22	−0.013%	$31.0M	$66.8M	75x	as long as short
StandX SPCX-USD	0.0000%	1h	152.26	+0.013%	$300K	$2.6M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.56	+0.210%	$8K	$856K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.29	+0.033%	$1.3M	$1.8M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0019%	1h	152.18	−0.041%	$7K	$7K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.13	−0.072%	$1.6M	$7.4M	20x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SPCX	+0.0032%	1h	152.15	−0.059%	$2.5M	$7.3M	20x	as long as short
QFEX SPCX-USD	+0.0035%	1h	152.16	−0.053%	$1.2M	$5.4M	10x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.18	−0.039%	$102K	$299K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.24	0.000%	—	$1.2M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.14	−0.066%	$129.7M	$129.3M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.11	−0.085%	$487K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.21	−0.020%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.23	−0.007%	$529K	$363K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.11	−0.085%	$3.1M	$2.2M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0062%	8h	152.22	−0.014%	$100	—	5x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0079%	1h	152.20	−0.026%	$86K	$1.4M	10x	as long as short
Nado SPCX-PERP	+0.0079%	1h	152.18	−0.042%	$635K	$813K	20x	as long as short
Bullet SPCX-USDshort	+0.0080%	1h	152.22	−0.011%	$11K	$192K	10x
Variational Omni SPCX	+0.0085%	8h	152.23	−0.007%	$5.9M	$2.8M	—	as long as short
Pacifica SPCX	+0.0100%	1h	152.12	−0.079%	$168K	$117K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.15	−0.059%	$12.9M	$5.7M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.15	−0.059%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.25	+0.007%	$14K	$7K	10x	as long as short
Extended SPCX-USD	+0.0104%	1h	152.19	−0.030%	$725K	$5.3M	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.22	−0.016%	$88	—	10x	as long as short
Binance SPCXUSDT	+0.0105%	8h	152.24	−0.002%	$253.2M	$1.37B	75x	as long as short
OKX SPCX-USDT-SWAPlong	+0.0117%	8h	152.24	long leg	$39.4M	$167.3M	75x
RISEx SPCX/USDC	+0.0190%	1h	152.25	+0.007%	$381K	$506K	20x	as long as short
Phoenix SPCX	+0.0210%	1h	152.25	+0.007%	$447K	$268K	15x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0280%	1h	152.13	−0.072%	$693K	$992K	10x	as long as short
Aster SPCXUSD1	+0.0383%	8h	152.37	+0.082%	$18.9M	$30.7M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.51	+0.177%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0713%	4h	152.24	+0.001%	$1.7M	$890K	20x	as long as short