Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0485%/8h= −53.1% APRpaid last 24h −0.152%

Price spread now: GMX against Phemex−0.036%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 GMX

What this pair did over the last

the charts below follow

Funding, last 4 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 −$15 a day on $10k at the current rate, and GMX is 0.036% cheaper against Phemex than usual: you would sell low and buy high (−$4 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	152.02	0.0050	pay 0.0050% / 8h	7h 27m	$529K	$363K	50x
Short	GMX SPCX/USD [ETH-USDC]	151.97	L −0.0187% / S +0.0435%	pay 0.0054% / 1h	27m 13s	$90K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.036%Rate

Funding earned: −$101.82
Price spread: −0.036% → 0.000%: −$3.62
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$129.44
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 5 min ago; GMX: 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, 5 min ago	0.33 bp	42.0 bp −$42	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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]short	L −0.0187% / S +0.0435%	1h	151.97	−0.036%	$90K	—	20x
BloFin SPCX-USDT	−0.0022%	8h	152.03	+0.007%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.06	+0.026%	$30.4M	$43.2M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.02	0.000%	$96.1M	$32.3M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.07	+0.033%	$30.9M	$66.9M	75x	as long as short
StandX SPCX-USD	0.0000%	1h	152.06	+0.026%	$299K	$2.6M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.20	+0.118%	$8K	$850K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.13	+0.072%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0021%	1h	151.98	−0.028%	$7K	$7K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.02	0.000%	$1.6M	$7.4M	20x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SPCX	+0.0032%	1h	152.00	−0.013%	$2.5M	$7.3M	20x	as long as short
QFEX SPCX-USD	+0.0035%	1h	152.03	+0.007%	$1.2M	$5.4M	10x	as long as short
Arcus SPCX-USD	+0.0040%	1h	151.96	−0.039%	$102K	$299K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.00	−0.013%	—	$1.2M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	151.98	−0.026%	$129.4M	$129.7M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	151.88	−0.092%	$487K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.02	0.000%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDTlong	+0.0050%	8h	152.02	long leg	$529K	$363K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	151.89	−0.086%	$3.1M	$2.2M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0061%	8h	152.03	+0.009%	$100	—	5x	as long as short
Variational Omni SPCX	+0.0081%	8h	152.06	+0.026%	$5.9M	$2.8M	—	as long as short
Extended SPCX-USD	+0.0096%	1h	152.00	−0.013%	$725K	$5.3M	10x	as long as short
Binance SPCXUSDT	+0.0098%	8h	152.06	+0.029%	$254.1M	$1.37B	75x	as long as short
Pacifica SPCX	+0.0100%	1h	151.92	−0.066%	$168K	$117K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	151.97	−0.033%	$12.9M	$5.7M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	151.97	−0.033%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.06	+0.026%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.00	−0.013%	$88	—	10x	as long as short
Nado SPCX-PERP	+0.0113%	1h	151.91	−0.075%	$634K	$812K	20x	as long as short
OKX SPCX-USDT-SWAP	+0.0114%	8h	152.07	+0.033%	$39.2M	$167.7M	75x	as long as short
Bullet SPCX-USD	+0.0133%	1h	152.05	+0.021%	$10K	$192K	10x	as long as short
edgeX SPCXUSDC	+0.0156%	4h	152.05	+0.019%	$1.7M	$891K	20x	as long as short
RISEx SPCX/USDC	+0.0190%	1h	152.03	+0.007%	$380K	$506K	20x	as long as short
Phoenix SPCX	+0.0210%	1h	152.01	−0.007%	$447K	$268K	15x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0211%	1h	152.03	+0.007%	$85K	$1.4M	10x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0280%	1h	152.03	+0.007%	$693K	$997K	10x	as long as short
Aster SPCXUSD1	+0.0381%	8h	152.15	+0.089%	$18.9M	$30.7M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.51	+0.322%	$9K	$28K	5.5x	as long as short