Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0017%/8h= −1.8% APRpaid last 24h −0.006%

Price spread now: Injective against Phemex+2.879%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.118%+$12 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Injective is 2.879% dearer against Phemex than usual: you sell high and buy low (spread +2.879% now, against zero (this spread has no 7-day history yet)): +$288 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 19 months. Mind the row above: over the last 7 days funding on this pair paid +0.118%, 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	152.85	0.0050	pay 0.0050% / 8h	26m 29s	$536K	$408K	50x
Short	Injective SPCX/USDC PERP	157.25	0.0033	get 0.0004% / 1h	26m 29s	$9K	$27K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +2.879%Rate

Funding earned: −$3.5
Price spread: +2.879% → 0.000%: $287.86
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $272.34
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Phemex: live order book, 51 min ago; Injective: 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, 51 min ago	1.64 bp	13.5 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 −0.0274% / S +0.0489%	1h	152.88	+0.016%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.90	+0.033%	$96.5M	$31.4M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.51	+12.862%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.81	−0.026%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.10	+0.164%	$8K	$973K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.88	+0.020%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0032%	1h	152.82	−0.020%	$7K	$10K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.85	0.000%	$2.5M	$7.6M	20x	as long as short
Injective SPCX/USDC PERPshort	+0.0033%	1h	157.25	+2.879%	$9K	$27K	5.5x
Arcus SPCX-USD	+0.0040%	1h	152.90	+0.033%	$105K	$297K	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SPCX-USD-PERP	+0.0046%	1h	152.88	+0.020%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.89	+0.026%	$489K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.89	+0.026%	$1.7M	$79K	20x	as long as short
Phemex SPCXUSDTlong	+0.0050%	8h	152.85	long leg	$536K	$408K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.72	−0.085%	$3.2M	$2.8M	10x	as long as short
QFEX SPCX-USD	+0.0052%	1h	152.88	+0.020%	$1.2M	$7.6M	10x	as long as short
BloFin SPCX-USDT	+0.0074%	8h	152.92	+0.046%	$1.9M	$1.4M	75x	as long as short
Lighter SPCX	+0.0080%	1h	152.88	+0.020%	$1.6M	$7.4M	20x	as long as short
Paradex SPCX-USD-PERP	+0.0088%	8h	152.90	+0.032%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.82	−0.020%	$173K	$130K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.81	−0.026%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.92	+0.046%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.90	+0.033%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.92	+0.048%	$89	—	10x	as long as short
Bullet SPCX-USD	+0.0132%	1h	152.94	+0.058%	$11K	$188K	10x	as long as short
Bybit SPCXUSDT	+0.0149%	8h	152.92	+0.046%	$30.7M	$42.8M	100x	as long as short
Variational Omni SPCX	+0.0171%	8h	152.87	+0.011%	$6.0M	$3.5M	—	as long as short
Extended SPCX-USD	+0.0192%	1h	152.90	+0.032%	$734K	$3.6M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0193%	8h	152.93	+0.052%	$39.0M	$169.4M	75x	as long as short
Binance SPCXUSDT	+0.0195%	8h	152.92	+0.049%	$253.2M	$1.39B	75x	as long as short
tradeXYZ xyz:SPCX	+0.0258%	1h	152.90	+0.033%	$143.4M	$118.9M	20x	as long as short
Phoenix SPCX	+0.0261%	1h	152.82	−0.020%	$445K	$269K	15x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0280%	1h	152.97	+0.079%	$733K	$970K	10x	as long as short
Aster SPCXUSD1	+0.0287%	8h	152.99	+0.092%	$19.0M	$21.3M	20x	as long as short
Nado SPCX-PERP	+0.0291%	1h	152.80	−0.034%	$602K	$884K	20x	as long as short
Bitget SPCXUSDT	+0.0308%	8h	152.93	+0.052%	$31.2M	$67.2M	75x	as long as short
RISEx SPCX/USDC	+0.0339%	1h	152.96	+0.073%	$403K	$539K	20x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0470%	1h	152.90	+0.033%	$71K	$1.0M	10x	as long as short
edgeX SPCXUSDC	+0.0807%	4h	152.87	+0.015%	$1.7M	$891K	20x	as long as short