Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0374%/8hpaid last 24h +0.013%

Price spread now: Deribit against Orderly+0.039%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Deribit is 0.039% dearer against Orderly than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_SPCX_USDC_mythos	152.00	0.0100	pay 0.0100% / 8h	4h 06m	$14K	$7K	10x
Short	Deribit SPCX_USDC-PERPETUAL	152.06	0.0474	get 0.0059% / 1h	6m 48s	$70K	$993K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Orderly. 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 OrderlybpFee DeribitbpOrdersPrice spread, now +0.039%Rate

Funding earned: $78.52
Price spread: +0.039% → 0.000%: $3.95
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $69.47
Costs to cover: 0.130%
Break-even: 0.8 days

Slippage unknown: Orderly: no order-book sample; Deribit: live order book, 26 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 Orderly no order-book sample	—	—	—	—	—
Sell Deribit live order book, 26 min ago	4.27 bp	8.4 bp −$8	11.3 bp −$113	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0207% / S +0.0442%	1h	152.00	−0.003%	$88K	—	20x	as long as short
BloFin SPCX-USDT	−0.0049%	8h	152.12	+0.079%	$1.9M	$1.3M	75x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.03	+0.020%	$96.4M	$30.4M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.49	+13.481%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.15	+0.099%	$301K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.49	+0.322%	$8K	$996K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	151.91	−0.059%	$1.3M	$1.6M	75x	as long as short
Lighter SPCX	+0.0032%	1h	151.98	−0.013%	$1.6M	$7.1M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.00	0.000%	$2.4M	$7.5M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+3.454%	$9K	$27K	5.5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX SPCX-USDT-SWAP	+0.0035%	8h	152.10	+0.066%	$39.2M	$164.3M	75x	as long as short
Variational Omni SPCX	+0.0038%	8h	152.41	+0.273%	$6.0M	$4.4M	—	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	151.98	−0.013%	—	$948K	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	151.96	−0.026%	$129.6M	$102.0M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	151.87	−0.086%	$486K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.01	+0.007%	$1.7M	$80K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.10	+0.066%	$537K	$392K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	151.78	−0.145%	$3.1M	$2.5M	10x	as long as short
QFEX SPCX-USD	+0.0060%	1h	151.89	−0.072%	$1.2M	$7.5M	10x	as long as short
Bybit SPCXUSDT	+0.0060%	8h	152.10	+0.066%	$30.5M	$40.8M	100x	as long as short
Paradex SPCX-USD-PERP	+0.0061%	8h	151.88	−0.078%	$100	—	5x	as long as short
Aster SPCXUSD1	+0.0066%	8h	152.12	+0.076%	$17.8M	$19.6M	20x	as long as short
Binance SPCXUSDT	+0.0071%	8h	152.09	+0.059%	$253.6M	$1.35B	75x	as long as short
Extended SPCX-USD	+0.0072%	1h	152.10	+0.065%	$712K	$3.5M	10x	as long as short
Pacifica SPCX	+0.0100%	1h	151.83	−0.112%	$175K	$137K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	151.99	−0.007%	$13.0M	$4.9M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.30	+0.197%	$58K	$270K	50x	as long as short
Orderly PERP_SPCX_USDC_mythoslong	+0.0100%	8h	152.00	long leg	$14K	$7K	10x
Aevo SPCX-PERP	+0.0104%	1h	152.09	+0.059%	$88	—	10x	as long as short
edgeX SPCXUSDC	+0.0129%	4h	152.34	+0.221%	$1.7M	$893K	20x	as long as short
Aftermath Perps SPCXUSD	+0.0140%	1h	152.08	+0.055%	$7K	$10K	10x	as long as short
Bullet SPCX-USD	+0.0153%	1h	152.05	+0.032%	$11K	$191K	10x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0176%	1h	152.06	+0.039%	$747K	$928K	10x	as long as short
Phoenix SPCX	+0.0210%	1h	152.13	+0.086%	$370K	$186K	15x	as long as short
Arcus SPCX-USD	+0.0250%	1h	151.83	−0.112%	$105K	$296K	5x	as long as short
Nado SPCX-PERP	+0.0259%	1h	151.84	−0.104%	$669K	$838K	20x	as long as short
Bitget SPCXUSDT	+0.0266%	8h	152.10	+0.066%	$29.3M	$64.0M	75x	as long as short
RISEx SPCX/USDC	+0.0357%	1h	151.91	−0.058%	$318K	$481K	20x	as long as short
Deribit SPCX_USDC-PERPETUALshort	+0.0474%	1h	152.06	+0.039%	$70K	$993K	10x