Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0146%/8h= +16.0% APRpaid last 24h +0.022%

Price spread now: Nado against Paradex−0.076%50s7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · Nado: Active · farm boardneeds both histories

Funding pays, the price is against you. Nado is 0.076% cheaper against Paradex than usual: you would sell low and buy high (spread −0.076% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 42 hours of funding at the current rate (+$4 a day). The two prices were read 50 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	Paradex SPCX-USD-PERP	153.00	0.0079	pay 0.0079% / 8h	5h 54m	$101	—	5x
Short	Nado SPCX-PERP	152.89	0.0225	get 0.0028% / 1h	54m 39s	$622K	$832K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Paradex. 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 ParadexbpFee NadobpOrdersPrice spread, now −0.076%Rate

Funding earned: $30.66
Price spread: −0.076% → 0.000%: −$7.59
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $12.07
Costs to cover: 0.110%
Break-even: 4.2 days

Slippage unknown: Paradex: no order-book sample; Nado: live order book, 9 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 Paradex no order-book sample	—	—	—	—	—
Sell Nado live order book, 9 min ago	0.33 bp	9.2 bp −$9	25.8 bp −$258	doesn't fit	doesn't fit

Paradex: 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 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 −0.0333% / S +0.0531%	1h	152.97	−0.018%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.97	−0.021%	$96.0M	$31.2M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.756%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.91	−0.061%	$302K	$3.0M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.27	+0.175%	$8K	$941K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.02	+0.011%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0025%	1h	152.95	−0.036%	$7K	$8K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.88	−0.080%	$2.5M	$7.2M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.92	−0.054%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.97	−0.021%	—	$1.2M	10x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SPCX-USD	+0.0048%	1h	152.97	−0.021%	$1.2M	$6.6M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.94	−0.041%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.98	−0.015%	$1.7M	$91K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.99	−0.008%	$535K	$405K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.86	−0.093%	$3.2M	$2.5M	10x	as long as short
Lighter SPCX	+0.0056%	1h	152.91	−0.061%	$1.6M	$7.2M	20x	as long as short
Bybit SPCXUSDT	+0.0058%	8h	153.00	−0.002%	$30.8M	$42.8M	100x	as long as short
Bitget SPCXUSDT	+0.0058%	8h	153.02	+0.011%	$31.7M	$66.1M	75x	as long as short
Paradex SPCX-USD-PERPlong	+0.0079%	8h	153.00	long leg	$101	—	5x
Pacifica SPCX	+0.0100%	1h	152.89	−0.074%	$169K	$129K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.90	−0.067%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.93	−0.048%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.01	+0.005%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.99	−0.006%	$89	—	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0142%	1h	152.94	−0.041%	$72K	$1.2M	10x	as long as short
Bullet SPCX-USD	+0.0173%	1h	153.00	−0.005%	$11K	$189K	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0189%	8h	153.02	+0.011%	$39.5M	$168.0M	75x	as long as short
edgeX SPCXUSDC	+0.0193%	4h	152.98	−0.018%	$1.7M	$891K	20x	as long as short
Variational Omni SPCX	+0.0194%	8h	152.98	−0.015%	$6.0M	$3.1M	—	as long as short
RISEx SPCX/USDC	+0.0199%	1h	153.01	+0.007%	$408K	$549K	20x	as long as short
Binance SPCXUSDT	+0.0206%	8h	152.99	−0.008%	$252.6M	$1.37B	75x	as long as short
Extended SPCX-USD	+0.0208%	1h	152.96	−0.030%	$736K	$3.8M	10x	as long as short
Nado SPCX-PERPshort	+0.0225%	1h	152.89	−0.076%	$622K	$832K	20x
tradeXYZ xyz:SPCX	+0.0245%	1h	152.97	−0.021%	$142.1M	$119.3M	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	152.97	−0.021%	$738K	$968K	10x	as long as short
Phoenix SPCX	+0.0314%	1h	152.98	−0.015%	$445K	$267K	15x	as long as short
Aster SPCXUSD1	+0.0410%	8h	153.07	+0.045%	$19.0M	$15.3M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.29	+0.188%	$9K	$27K	5.5x	as long as short