Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against Phemex+0.007%46s7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$410.411% of the position

Long on Phemex Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.136%+$14 on $10k

Price spread, last 3 days (all we have)+0.020%+$2 · spread now +0.007%, 7d avg +0.027%

Together, before fees+0.155%+$16 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: Polymarket Perps is 0.020% cheaper against Phemex than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.027%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SPCXUSDT	152.95	0.0050	pay 0.0050% / 8h	6h 46m	$534K	$405K	50x
Short	Polymarket Perps SPCX-USD	152.96	0.0050	get 0.0006% / 1h	46m 35s	$500K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket 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 Polymarket PerpsbpOrdersPrice spread, now +0.007%Rate

Funding earned: $0
Price spread: +0.007% → +0.027%: −$2.04
Slippage, 4 orders: −$21.05
Fee Phemex: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$43.09
Costs to cover: 0.411%
Break-even: never at this rate

Slippage from Phemex: live order book, 21 min ago; Polymarket Perps: live order book, 2 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, 21 min ago	1.96 bp	9.3 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	1.63 bp	5.6 bp −$6	5.8 bp −$58	9.0 bp −$898	doesn't fit

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 −0.0340% / S +0.0536%	1h	152.96	+0.003%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.00	+0.033%	$96.3M	$31.2M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.798%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.94	−0.007%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.28	+0.216%	$8K	$949K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	0.0000%	1h	152.94	−0.007%	$72K	$1.1M	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.06	+0.072%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0025%	1h	152.90	−0.032%	$7K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.97	+0.013%	$1.6M	$7.2M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.95	0.000%	$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
Injective SPCX/USDC PERP	+0.0033%	1h	153.32	+0.242%	$9K	$27K	5.5x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.94	−0.007%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.03	+0.052%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0049%	1h	153.00	+0.033%	$1.2M	$7.0M	10x	as long as short
Polymarket Perps SPCX-USDshort	+0.0050%	1h	152.96	+0.007%	$500K	$1.2M	10x
SoDEX SPCX-USD	+0.0050%	1h	152.96	+0.007%	$1.7M	$87K	20x	as long as short
Phemex SPCXUSDTlong	+0.0050%	8h	152.95	long leg	$534K	$405K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.84	−0.072%	$3.2M	$2.6M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0085%	8h	153.03	+0.054%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.92	−0.020%	$169K	$133K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.92	−0.020%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.94	−0.007%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.01	+0.039%	$15K	$7K	10x	as long as short
Bybit SPCXUSDT	+0.0102%	8h	153.02	+0.046%	$30.9M	$42.9M	100x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.01	+0.037%	$89	—	10x	as long as short
BloFin SPCX-USDT	+0.0116%	8h	153.03	+0.052%	$1.9M	$1.4M	75x	as long as short
Bullet SPCX-USD	+0.0168%	1h	153.00	+0.033%	$11K	$189K	10x	as long as short
tradeXYZ xyz:SPCX	+0.0176%	1h	152.97	+0.013%	$142.4M	$119.7M	20x	as long as short
OKX SPCX-USDT-SWAP	+0.0204%	8h	153.01	+0.039%	$39.4M	$168.9M	75x	as long as short
Variational Omni SPCX	+0.0220%	8h	152.98	+0.020%	$6.0M	$3.5M	—	as long as short
Bitget SPCXUSDT	+0.0221%	8h	153.08	+0.085%	$31.8M	$66.6M	75x	as long as short
Extended SPCX-USD	+0.0232%	1h	152.97	+0.013%	$734K	$3.8M	10x	as long as short
Binance SPCXUSDT	+0.0232%	8h	153.01	+0.039%	$252.8M	$1.37B	75x	as long as short
Nado SPCX-PERP	+0.0271%	1h	152.95	0.000%	$620K	$844K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0288%	1h	153.14	+0.124%	$728K	$986K	10x	as long as short
Phoenix SPCX	+0.0314%	1h	153.02	+0.046%	$445K	$270K	15x	as long as short
Aster SPCXUSD1	+0.0392%	8h	153.12	+0.110%	$19.0M	$17.7M	20x	as long as short
RISEx SPCX/USDC	+0.0410%	1h	153.06	+0.069%	$408K	$539K	20x	as long as short
edgeX SPCXUSDC	+0.0426%	4h	153.00	+0.036%	$1.7M	$894K	20x	as long as short