Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0109%/8h= +12.0% APRpaid last 24h +0.036%

Price spread now: Phoenix against Orderly−0.020%66s7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_SPCX_USDC_mythos	152.58	0.0100	pay 0.0100% / 8h	6h 19m	$14K	$7K	10x
Short	Phoenix SPCX	152.55	0.0209	get 0.0026% / 1h	19m 47s	$448K	$271K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.020%Rate

Funding earned: $22.99
Price spread: −0.020% → 0.000%: −$1.97
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $8.02
Costs to cover: 0.130%
Break-even: 4.6 days

Slippage unknown: Orderly: no order-book sample; Phoenix: live order book, 30 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 Phoenix live order book, 30 min ago	0.33 bp	6.5 bp −$6	24.6 bp −$246	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 38 exchanges

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	152.50	−0.056%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0058%	8h	152.59	+0.007%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.60	+0.013%	$30.2M	$43.4M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.54	−0.026%	$96.1M	$32.5M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.59	+0.007%	$31.0M	$66.9M	75x	as long as short
StandX SPCX-USD	0.0000%	1h	152.58	0.000%	$306K	$2.6M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.84	+0.170%	$8K	$827K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	0.0000%	1h	152.49	−0.059%	$50K	$1.5M	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.64	+0.039%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0018%	1h	152.56	−0.011%	$7K	$7K	10x	as long as short

Show all 38 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SPCX-USD	+0.0031%	1h	152.54	−0.026%	$1.2M	$5.4M	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.51	−0.046%	$1.6M	$7.4M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.48	−0.066%	$2.5M	$7.3M	20x	as long as short
Variational Omni SPCX	+0.0037%	8h	152.54	−0.024%	$5.9M	$2.7M	—	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.47	−0.072%	$102K	$295K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.53	−0.033%	—	$1.3M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.49	−0.059%	$128.8M	$129.1M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.60	+0.013%	$489K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.54	−0.026%	$1.7M	$102K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.53	−0.033%	$532K	$363K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.40	−0.118%	$3.1M	$2.1M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0051%	8h	152.54	−0.024%	$101	—	5x	as long as short
Binance SPCXUSDT	+0.0061%	8h	152.57	−0.007%	$252.0M	$1.38B	75x	as long as short
Extended SPCX-USD	+0.0064%	1h	152.52	−0.037%	$726K	$5.4M	10x	as long as short
RISEx SPCX/USDC	+0.0068%	1h	152.59	+0.003%	$351K	$518K	20x	as long as short
OKX SPCX-USDT-SWAP	+0.0088%	8h	152.59	+0.007%	$39.4M	$168.4M	75x	as long as short
Pacifica SPCX	+0.0100%	1h	152.49	−0.059%	$169K	$117K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.44	−0.092%	$13.0M	$6.0M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.62	+0.026%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythoslong	+0.0100%	8h	152.58	long leg	$14K	$7K	10x
Bullet SPCX-USD	+0.0100%	1h	152.57	−0.004%	$11K	$191K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.53	−0.030%	$88	—	10x	as long as short
Nado SPCX-PERP	+0.0118%	1h	152.50	−0.055%	$634K	$805K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0184%	1h	152.48	−0.066%	$687K	$1.0M	10x	as long as short
edgeX SPCXUSDC	+0.0206%	4h	152.56	−0.013%	$1.7M	$889K	20x	as long as short
Phoenix SPCXshort	+0.0209%	1h	152.55	−0.020%	$448K	$271K	15x
Aster SPCXUSD1	+0.0384%	8h	152.70	+0.079%	$19.0M	$30.6M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.78	+0.131%	$9K	$28K	5.5x	as long as short