Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0031%/8h= −3.4% APRpaid last 24h −0.003%

Price spread now: Aftermath Perps against Phemex−0.112%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Aftermath Perps

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—needs both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aftermath Perps is 0.112% cheaper against Phemex than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SPCXUSDT	152.71	0.0050	pay 0.0050% / 8h	2h 13m	$531K	$386K	50x
Short	Aftermath Perps SPCXUSD	152.54	0.0019	get 0.0002% / 1h	13m 16s	$7K	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Phemex. 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 PhemexbpFee Aftermath PerpsbpOrdersPrice spread, now −0.112%Rate

Funding earned: −$6.54
Price spread: −0.112% → 0.000%: −$11.21
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$38.75
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 34 min ago; Aftermath Perps: no order-book sample. 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 Phemex live order book, 34 min ago	0.65 bp	9.6 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Aftermath Perps no order-book sample	—	—	—	—	—

Aftermath Perps: 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 −0.0187% / S +0.0435%	1h	152.62	−0.062%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0014%	8h	152.68	−0.020%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.70	−0.007%	$30.6M	$42.7M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.69	−0.013%	$96.2M	$31.9M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.73	+0.013%	$31.3M	$65.8M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.978%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.68	−0.020%	$300K	$2.8M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.87	+0.105%	$8K	$899K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	0.0000%	1h	152.66	−0.033%	$88K	$1.3M	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.75	+0.026%	$1.3M	$1.8M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps SPCXUSDshort	+0.0019%	1h	152.54	−0.112%	$7K	$8K	10x
Lighter SPCX	+0.0032%	1h	152.66	−0.033%	$1.6M	$7.4M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.64	−0.046%	$2.5M	$7.3M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.57	−0.092%	$105K	$297K	5x	as long as short
QFEX SPCX-USD	+0.0043%	1h	152.65	−0.039%	$1.2M	$5.5M	10x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.71	0.000%	—	$1.2M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.62	−0.059%	$130.8M	$128.8M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.64	−0.046%	$488K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.68	−0.020%	$1.7M	$96K	20x	as long as short
Phemex SPCXUSDTlong	+0.0050%	8h	152.71	long leg	$531K	$386K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.47	−0.157%	$3.2M	$2.3M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0057%	8h	152.73	+0.010%	$101	—	5x	as long as short
Variational Omni SPCX	+0.0097%	8h	152.63	−0.053%	$6.0M	$2.8M	—	as long as short
Pacifica SPCX	+0.0100%	1h	152.62	−0.059%	$169K	$118K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.58	−0.085%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.55	−0.105%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.69	−0.013%	$15K	$7K	10x	as long as short
Extended SPCX-USD	+0.0104%	1h	152.68	−0.021%	$731K	$4.6M	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.69	−0.013%	$89	—	10x	as long as short
Nado SPCX-PERP	+0.0106%	1h	152.62	−0.059%	$612K	$802K	20x	as long as short
Binance SPCXUSDT	+0.0106%	8h	152.71	+0.003%	$250.6M	$1.36B	75x	as long as short
OKX SPCX-USDT-SWAP	+0.0117%	8h	152.74	+0.020%	$39.5M	$166.5M	75x	as long as short
Bullet SPCX-USD	+0.0138%	1h	152.71	0.000%	$11K	$193K	10x	as long as short
RISEx SPCX/USDC	+0.0238%	1h	152.72	+0.010%	$409K	$513K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0248%	1h	152.70	−0.007%	$731K	$938K	10x	as long as short
Phoenix SPCX	+0.0263%	1h	152.65	−0.039%	$444K	$266K	15x	as long as short
Aster SPCXUSD1	+0.0363%	8h	152.71	−0.001%	$18.9M	$24.8M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.70	−0.007%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0817%	4h	152.61	−0.065%	$1.7M	$894K	20x	as long as short