Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: Phemex against Pacifica+0.059%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$420.422% of the position

Long on Pacifica Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.131%−$13 on $10k

Price spread, last 4 days (all we have)−0.119%−$12 · spread now +0.059%, 7d avg −0.004%

Together, before fees−0.250%+ Points / potential airdropPacifica: Active · farm board−$25 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.063% dearer against Pacifica than usual: you sell high and buy low (spread +0.059% now, against its 7-day average of −0.004%): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica SPCX	152.25	0.0100	pay 0.0013% / 1h	40m 27s	$168K	$120K	10x
Short	Phemex SPCXUSDT	152.34	0.0050	get 0.0050% / 8h	40m 27s	$530K	$373K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Pacifica. 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 PacificabpFee PhemexbpOrdersPrice spread, now +0.059%Rate

Funding earned: −$10.5
Price spread: +0.059% → −0.004%: $6.28
Slippage, 4 orders: −$22.19
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$46.41
Costs to cover: 0.422%
Break-even: never at this rate

Slippage from Pacifica: live order book, 62 min ago; Phemex: live order book, 62 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 Pacifica live order book, 62 min ago	0.33 bp	5.4 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 62 min ago	0.33 bp	14.4 bp −$14	doesn't fit	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 −0.0234% / S +0.0471%	1h	152.28	+0.023%	$90K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.35	+0.066%	$96.2M	$31.8M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.38	+0.085%	$31.2M	$66.2M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+13.318%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.38	+0.085%	$300K	$2.6M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.60	+0.230%	$8K	$893K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.42	+0.112%	$1.3M	$1.8M	75x	as long as short
Bybit SPCXUSDT	+0.0014%	8h	152.37	+0.079%	$30.5M	$42.7M	100x	as long as short
BloFin SPCX-USDT	+0.0021%	8h	152.38	+0.085%	$1.9M	$1.2M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0027%	1h	152.24	−0.004%	$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	152.28	+0.020%	$2.5M	$7.2M	20x	as long as short
Lighter SPCX	+0.0040%	1h	152.30	+0.033%	$1.6M	$7.3M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.26	+0.007%	$103K	$298K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.34	+0.059%	—	$1.2M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.27	+0.013%	$129.9M	$129.2M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.32	+0.046%	$487K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.32	+0.046%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDTshort	+0.0050%	8h	152.34	+0.059%	$530K	$373K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.19	−0.039%	$3.2M	$2.2M	10x	as long as short
QFEX SPCX-USD	+0.0070%	1h	152.32	+0.046%	$1.2M	$5.5M	10x	as long as short
Pacifica SPCXlong	+0.0100%	1h	152.25	long leg	$168K	$120K	10x
KuCoin SPCXUSDTM	+0.0100%	8h	152.23	−0.013%	$13.0M	$5.6M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.32	+0.046%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.35	+0.066%	$14K	$7K	10x	as long as short
Paradex SPCX-USD-PERP	+0.0101%	8h	152.33	+0.055%	$101	—	5x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.35	+0.067%	$88	—	10x	as long as short
Variational Omni SPCX	+0.0127%	8h	152.34	+0.056%	$5.9M	$2.8M	—	as long as short
Binance SPCXUSDT	+0.0141%	8h	152.36	+0.072%	$252.8M	$1.36B	75x	as long as short
Extended SPCX-USD	+0.0144%	1h	152.32	+0.045%	$726K	$3.9M	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0144%	1h	152.30	+0.033%	$89K	$1.4M	10x	as long as short
Bullet SPCX-USD	+0.0154%	1h	152.37	+0.076%	$11K	$193K	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0155%	8h	152.38	+0.085%	$39.7M	$166.8M	75x	as long as short
Nado SPCX-PERP	+0.0181%	1h	152.25	−0.001%	$627K	$803K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0240%	1h	152.34	+0.059%	$728K	$930K	10x	as long as short
Phoenix SPCX	+0.0368%	1h	152.35	+0.066%	$443K	$266K	15x	as long as short
Aster SPCXUSD1	+0.0407%	8h	152.47	+0.148%	$18.9M	$28.8M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.55	+0.197%	$9K	$28K	5.5x	as long as short
RISEx SPCX/USDC	+0.0445%	1h	152.40	+0.098%	$381K	$507K	20x	as long as short
edgeX SPCXUSDC	+0.0472%	4h	152.32	+0.047%	$1.7M	$890K	20x	as long as short