Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0134%/8h= +14.7% APRpaid last 24h +0.052%

Price spread now: Coinbase International against Phemex−0.066%7-day average +0.055% · you buy dearer than you sell

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$510.514% of the position

Long on Phemex Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.348%+$35 on $10k

Price spread, last 4 days (all we have)+0.161%+$16 · spread now −0.066%, 7d avg +0.055%

Together, before fees+0.509%+$51 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.120% cheaper against Phemex than usual: you would sell low and buy high (spread −0.066% now, against its 7-day average of +0.055%). If the spread goes back, that is −$12 on $10k: about 3.0 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SPCXUSDT	152.58	0.0050	pay 0.0050% / 8h	6h 18m	$532K	$363K	50x
Short	Coinbase International SPCX-PERP-INTX	152.48	0.0184	get 0.0023% / 1h	18m 00s	$687K	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.066%Rate

Funding earned: $28.14
Price spread: −0.066% → +0.055%: −$12.01
Slippage, 4 orders: −$29.42
Fee Phemex: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$35.29
Costs to cover: 0.514%
Break-even: 15.8 days

Slippage from Phemex: live order book, 32 min ago; Coinbase International: 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, 32 min ago	0.66 bp	24.9 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	2.30 bp	7.8 bp −$8	10.0 bp −$100	doesn't fit	doesn't fit

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	−0.0059%	8h	152.58	0.000%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.64	+0.039%	$30.3M	$43.4M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.59	+0.007%	$96.1M	$32.5M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.67	+0.059%	$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	152.82	+0.157%	$8K	$827K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	0.0000%	1h	152.51	−0.046%	$50K	$1.4M	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.62	+0.026%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0019%	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	152.55	−0.020%	$1.6M	$7.4M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.52	−0.039%	$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	152.50	−0.052%	$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	152.54	−0.026%	$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	152.58	0.000%	$1.7M	$102K	20x	as long as short
Phemex SPCXUSDTlong	+0.0050%	8h	152.58	long leg	$532K	$363K	50x
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	152.55	−0.021%	$101	—	5x	as long as short
Binance SPCXUSDT	+0.0061%	8h	152.62	+0.027%	$252.1M	$1.38B	75x	as long as short
Extended SPCX-USD	+0.0064%	1h	152.58	−0.002%	$726K	$5.4M	10x	as long as short
RISEx SPCX/USDC	+0.0068%	1h	152.60	+0.014%	$351K	$518K	20x	as long as short
OKX SPCX-USDT-SWAP	+0.0089%	8h	152.64	+0.039%	$39.4M	$168.5M	75x	as long as short
Pacifica SPCX	+0.0100%	1h	152.47	−0.072%	$169K	$117K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.48	−0.066%	$13.0M	$6.0M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.46	−0.079%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.58	0.000%	$14K	$7K	10x	as long as short
Bullet SPCX-USD	+0.0103%	1h	152.62	+0.026%	$11K	$191K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.55	−0.020%	$88	—	10x	as long as short
Nado SPCX-PERP	+0.0119%	1h	152.50	−0.051%	$633K	$805K	20x	as long as short
Coinbase International SPCX-PERP-INTXshort	+0.0184%	1h	152.48	−0.066%	$687K	$1.0M	10x
Phoenix SPCX	+0.0209%	1h	152.55	−0.020%	$448K	$271K	15x	as long as short
Aster SPCXUSD1	+0.0384%	8h	152.73	+0.098%	$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
edgeX SPCXUSDC	+0.0700%	4h	152.54	−0.024%	$1.7M	$890K	20x	as long as short