Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Ondo Perps against Phemex−0.085%7-day average +0.009% · you buy dearer than you sell

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

Long on Phemex Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.159%+$16 on $10k

Price spread, last 4 days (all we have)+0.183%+$18 · spread now −0.085%, 7d avg +0.009%

Together, before fees+0.343%+ Points / potential airdropOndo Perps: Active · farm board+$34 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Ondo Perps is 0.094% cheaper against Phemex than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SPCXUSDT	153.04	0.0050	pay 0.0050% / 8h	5h 08m	$533K	$400K	50x
Short	Ondo Perps SPCX-USD.P	152.91	0.0050	get 0.0006% / 1h	8m 00s	$3.2M	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo 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 Ondo PerpsbpOrdersPrice spread, now −0.085%Rate

Funding earned: $0.08
Price spread: −0.085% → +0.009%: −$9.42
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$26.34
Costs to cover: 0.170%
Break-even: 2202.0 days

Slippage unknown: Phemex: live order book, 54 min ago; Ondo 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, 54 min ago	2.29 bp	14.5 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo 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 −0.0333% / S +0.0531%	1h	153.01	−0.016%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.03	−0.007%	$96.2M	$31.3M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	153.09	+0.033%	$31.7M	$65.5M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.733%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.97	−0.046%	$302K	$3.0M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.24	+0.131%	$8K	$936K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.07	+0.020%	$1.3M	$1.7M	75x	as long as short
Bybit SPCXUSDT	+0.0024%	8h	153.05	+0.007%	$30.8M	$42.9M	100x	as long as short
Aftermath Perps SPCXUSD	+0.0026%	1h	152.99	−0.035%	$8K	$8K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.98	−0.039%	$2.5M	$7.2M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus SPCX-USD	+0.0040%	1h	152.97	−0.046%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.03	−0.007%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0048%	1h	153.02	−0.013%	$1.2M	$6.5M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.99	−0.033%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.03	−0.007%	$1.7M	$93K	20x	as long as short
Phemex SPCXUSDTlong	+0.0050%	8h	153.04	long leg	$533K	$400K	50x
Ondo Perps SPCX-USD.Pshort	+0.0050%	1h	152.91	−0.085%	$3.2M	$2.5M	10x
BloFin SPCX-USDT	+0.0063%	8h	153.06	+0.013%	$1.9M	$1.4M	75x	as long as short
Lighter SPCX	+0.0064%	1h	153.01	−0.020%	$1.6M	$7.2M	20x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0077%	1h	152.99	−0.033%	$73K	$1.2M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0077%	8h	153.05	+0.008%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.96	−0.052%	$169K	$130K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.94	−0.065%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.05	+0.007%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.04	0.000%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.04	+0.001%	$89	—	10x	as long as short
Variational Omni SPCX	+0.0170%	8h	153.03	−0.010%	$6.0M	$3.1M	—	as long as short
Bullet SPCX-USD	+0.0172%	1h	153.05	+0.009%	$12K	$191K	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0174%	8h	153.07	+0.020%	$39.5M	$167.5M	75x	as long as short
Binance SPCXUSDT	+0.0182%	8h	153.05	+0.003%	$252.5M	$1.37B	75x	as long as short
Extended SPCX-USD	+0.0184%	1h	153.02	−0.014%	$734K	$3.8M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0191%	1h	153.02	−0.013%	$142.1M	$118.9M	20x	as long as short
RISEx SPCX/USDC	+0.0199%	1h	153.09	+0.033%	$410K	$532K	20x	as long as short
Nado SPCX-PERP	+0.0224%	1h	152.95	−0.058%	$617K	$828K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	153.04	0.000%	$738K	$980K	10x	as long as short
Phoenix SPCX	+0.0262%	1h	153.04	0.000%	$445K	$267K	15x	as long as short
Aster SPCXUSD1	+0.0415%	8h	153.12	+0.051%	$19.0M	$17.4M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.28	+0.157%	$9K	$27K	5.5x	as long as short
edgeX SPCXUSDC	+0.0973%	4h	153.03	−0.009%	$1.7M	$892K	20x	as long as short