Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.5% APRpaid last 24h −0.004%

Price spread now: QFEX against Phemex−0.039%7-day average +0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$520.524% of the position

Long on Phemex Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.030%+$3 on $10k

Price spread, last 4 days (all we have)+0.079%+$8 · spread now −0.039%, 7d avg +0.044%

Together, before fees+0.109%+$11 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: QFEX is 0.083% cheaper against Phemex than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SPCXUSDT	153.11	0.0050	pay 0.0050% / 8h	4h 19m	$533K	$393K	50x
Short	QFEX SPCX-USD	153.05	0.0046	get 0.0006% / 1h	19m 19s	$1.2M	$6.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.039%Rate

Funding earned: −$0.87
Price spread: −0.039% → +0.044%: −$8.28
Slippage, 4 orders: −$30.35
Fee Phemex: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$61.51
Costs to cover: 0.524%
Break-even: never at this rate

Slippage from Phemex: live order book, 38 min ago; QFEX: live order book, 4 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, 38 min ago	2.61 bp	12.4 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	2.29 bp	7.3 bp −$7	9.1 bp −$91	doesn't fit	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 −0.0253% / S +0.0486%	1h	153.04	−0.042%	$91K	—	20x	as long as short
Bybit SPCXUSDT	0.0000%	8h	153.09	−0.013%	$30.8M	$42.9M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.08	−0.020%	$96.3M	$31.3M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	153.13	+0.013%	$31.7M	$65.3M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.681%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	153.03	−0.052%	$302K	$2.9M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.35	+0.157%	$8K	$938K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.13	+0.013%	$1.3M	$1.7M	75x	as long as short
edgeX SPCXUSDC	0.0000%	4h	153.08	−0.018%	$1.7M	$892K	20x	as long as short
Aftermath Perps SPCXUSD	+0.0022%	1h	153.03	−0.051%	$8K	$8K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin SPCX-USDT	+0.0029%	8h	153.11	0.000%	$1.9M	$1.4M	75x	as long as short
Lighter SPCX	+0.0032%	1h	153.04	−0.046%	$1.6M	$7.3M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	153.01	−0.065%	$2.5M	$7.3M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	153.02	−0.059%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.08	−0.020%	—	$1.2M	10x	as long as short
QFEX SPCX-USDshort	+0.0046%	1h	153.05	−0.039%	$1.2M	$6.0M	10x
Polymarket Perps SPCX-USD	+0.0050%	1h	153.04	−0.046%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.07	−0.026%	$1.7M	$97K	20x	as long as short
Phemex SPCXUSDTlong	+0.0050%	8h	153.11	long leg	$533K	$393K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.98	−0.085%	$3.2M	$2.5M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0061%	8h	153.10	−0.008%	$101	—	5x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0077%	1h	153.03	−0.052%	$77K	$1.2M	10x	as long as short
Pacifica SPCX	+0.0100%	1h	153.00	−0.072%	$169K	$130K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	153.02	−0.059%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.12	+0.007%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.08	−0.020%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.08	−0.017%	$89	—	10x	as long as short
tradeXYZ xyz:SPCX	+0.0106%	1h	153.04	−0.046%	$141.4M	$119.0M	20x	as long as short
Bullet SPCX-USD	+0.0107%	1h	153.10	−0.007%	$11K	$191K	10x	as long as short
Nado SPCX-PERP	+0.0130%	1h	153.01	−0.065%	$617K	$821K	20x	as long as short
Variational Omni SPCX	+0.0133%	8h	153.09	−0.015%	$6.0M	$3.0M	—	as long as short
Extended SPCX-USD	+0.0144%	1h	153.06	−0.034%	$734K	$3.8M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0146%	8h	153.13	+0.013%	$39.5M	$166.8M	75x	as long as short
Binance SPCXUSDT	+0.0147%	8h	153.10	−0.008%	$251.1M	$1.37B	75x	as long as short
RISEx SPCX/USDC	+0.0191%	1h	153.13	+0.010%	$410K	$530K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	153.10	−0.007%	$738K	$926K	10x	as long as short
Phoenix SPCX	+0.0261%	1h	153.10	−0.007%	$445K	$268K	15x	as long as short
Aster SPCXUSD1	+0.0409%	8h	153.17	+0.042%	$19.0M	$21.1M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.50	+0.255%	$9K	$28K	5.5x	as long as short