Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h +0.013%

Price spread now: Arcus against Phemex−0.020%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$550.548% of the position

Long on Phemex Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.080%+$8 on $10k

Price spread, last 3 days (all we have)+0.035%+$3 · spread now −0.020%, 7d avg +0.005%

Together, before fees+0.115%+$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Arcus is 0.024% cheaper against Phemex than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.005%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.080%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SPCXUSDT	152.96	0.0050	pay 0.0050% / 8h	6h 01m	$534K	$405K	50x
Short	Arcus SPCX-USD	152.93	0.0040	get 0.0005% / 1h	1m 00s	$105K	$297K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now −0.020%Rate

Funding earned: −$2.04
Price spread: −0.020% → +0.005%: −$2.43
Slippage, 4 orders: −$38.32
Fee Phemex: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$59.29
Costs to cover: 0.548%
Break-even: never at this rate

Slippage from Phemex: live order book, 1 min ago; Arcus: live order book, 3 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 Phemex live order book, 1 min ago	2.29 bp	14.5 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Arcus live order book, 3 min ago	6.54 bp	9.3 bp −$9	12.4 bp −$124	doesn't fit	doesn't fit

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	152.99	+0.016%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.95	−0.007%	$96.0M	$31.4M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.790%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.92	−0.026%	$302K	$3.0M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.25	+0.190%	$8K	$941K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	0.0000%	1h	152.90	−0.039%	$72K	$1.1M	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.03	+0.046%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0024%	1h	152.94	−0.012%	$7K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.94	−0.013%	$1.6M	$7.2M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.91	−0.033%	$2.5M	$7.3M	20x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective SPCX/USDC PERP	+0.0033%	1h	153.35	+0.255%	$9K	$27K	5.5x	as long as short
Arcus SPCX-USDshort	+0.0040%	1h	152.93	−0.020%	$105K	$297K	5x
Vest SPCX-USD-PERP	+0.0046%	1h	152.99	+0.020%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0049%	1h	152.98	+0.013%	$1.2M	$6.7M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.95	−0.007%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.98	+0.013%	$1.7M	$91K	20x	as long as short
Phemex SPCXUSDTlong	+0.0050%	8h	152.96	long leg	$534K	$405K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.84	−0.078%	$3.2M	$2.5M	10x	as long as short
Bybit SPCXUSDT	+0.0059%	8h	152.98	+0.013%	$30.8M	$42.9M	100x	as long as short
Paradex SPCX-USD-PERP	+0.0080%	8h	153.01	+0.032%	$101	—	5x	as long as short
Bitget SPCXUSDT	+0.0082%	8h	153.03	+0.046%	$31.7M	$66.2M	75x	as long as short
Pacifica SPCX	+0.0100%	1h	152.90	−0.039%	$169K	$133K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.89	−0.046%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.93	−0.020%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.99	+0.020%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.97	+0.009%	$89	—	10x	as long as short
edgeX SPCXUSDC	+0.0136%	4h	152.98	+0.014%	$1.7M	$893K	20x	as long as short
Bullet SPCX-USD	+0.0167%	1h	153.00	+0.023%	$11K	$189K	10x	as long as short
tradeXYZ xyz:SPCX	+0.0182%	1h	152.95	−0.007%	$142.3M	$119.2M	20x	as long as short
OKX SPCX-USDT-SWAP	+0.0189%	8h	152.98	+0.013%	$39.4M	$168.2M	75x	as long as short
Variational Omni SPCX	+0.0196%	8h	152.97	+0.005%	$6.0M	$3.1M	—	as long as short
Extended SPCX-USD	+0.0208%	1h	152.92	−0.028%	$736K	$3.8M	10x	as long as short
Binance SPCXUSDT	+0.0210%	8h	152.96	+0.001%	$252.5M	$1.37B	75x	as long as short
Nado SPCX-PERP	+0.0234%	1h	152.93	−0.022%	$622K	$835K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0288%	1h	152.97	+0.007%	$738K	$972K	10x	as long as short
Phoenix SPCX	+0.0314%	1h	152.99	+0.020%	$445K	$270K	15x	as long as short
RISEx SPCX/USDC	+0.0410%	1h	153.03	+0.046%	$408K	$549K	20x	as long as short
Aster SPCXUSD1	+0.0410%	8h	153.06	+0.064%	$19.0M	$15.2M	20x	as long as short