Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0359%/8h= +39.3% APRpaid last 24h +0.035%

Price spread now: RISEx against Phemex+0.054%7-day average +0.110% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$350.350% of the position

Long on Phemex Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.110%+$11 on $10k

Price spread, last 3 days (all we have)+0.067%+$7 · spread now +0.054%, 7d avg +0.110%

Together, before fees+0.177%+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.056% cheaper against Phemex than usual: you would sell low and buy high (spread +0.054% now, against its 7-day average of +0.110%). If the spread goes back, that is −$6 on $10k: about 12 hours of funding at the current rate (+$11 a day). At the pace of the last 3 days (+0.110% in total) that is about 42 hours.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.110% in total (about 11.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SPCXUSDT	153.03	0.0050	pay 0.0050% / 8h	7h 52m	$535K	$414K	50x
Short	RISEx SPCX/USDC	153.11	0.0409	get 0.0051% / 1h	52m 36s	$401K	$535K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.054%Rate

Funding earned: $75.34
Price spread: +0.054% → +0.110%: −$5.6
Slippage, 4 orders: −$17
Fee Phemex: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: $34.74
Costs to cover: 0.350%
Break-even: 3.8 days

Slippage from Phemex: live order book, 20 min ago; RISEx: live order book, 21 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, 20 min ago	0.65 bp	13.7 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell RISEx live order book, 21 min ago	0.98 bp	4.0 bp −$4	5.7 bp −$57	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 −0.0294% / S +0.0503%	1h	153.03	−0.003%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.06	+0.020%	$96.6M	$31.0M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.51	+12.733%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.95	−0.052%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.27	+0.157%	$8K	$965K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.10	+0.046%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0027%	1h	152.87	−0.101%	$7K	$8K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	153.02	−0.007%	$2.5M	$7.4M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+2.758%	$9K	$27K	5.5x	as long as short
Lighter SPCX	+0.0040%	1h	153.04	+0.007%	$1.6M	$7.4M	20x	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	153.12	+0.059%	—	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.06	+0.020%	$1.7M	$81K	20x	as long as short
Phemex SPCXUSDTlong	+0.0050%	8h	153.03	long leg	$535K	$414K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.92	−0.072%	$3.2M	$2.7M	10x	as long as short
Bybit SPCXUSDT	+0.0063%	8h	153.10	+0.046%	$30.8M	$42.8M	100x	as long as short
QFEX SPCX-USD	+0.0063%	1h	153.05	+0.013%	$1.2M	$7.6M	10x	as long as short
BloFin SPCX-USDT	+0.0089%	8h	153.12	+0.059%	$1.9M	$1.4M	75x	as long as short
Pacifica SPCX	+0.0100%	1h	152.98	−0.033%	$173K	$129K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.96	−0.046%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.93	−0.065%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.10	+0.046%	$15K	$7K	10x	as long as short
Paradex SPCX-USD-PERP	+0.0103%	8h	153.10	+0.045%	$101	—	5x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.05	+0.016%	$89	—	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0142%	1h	153.08	+0.033%	$71K	$1.0M	10x	as long as short
Nado SPCX-PERP	+0.0172%	1h	153.02	−0.004%	$602K	$880K	20x	as long as short
Variational Omni SPCX	+0.0192%	8h	153.05	+0.016%	$6.0M	$3.5M	—	as long as short
Arcus SPCX-USD	+0.0194%	1h	152.99	−0.026%	$105K	$297K	5x	as long as short
OKX SPCX-USDT-SWAP	+0.0201%	8h	153.08	+0.033%	$39.1M	$169.2M	75x	as long as short
Extended SPCX-USD	+0.0208%	1h	153.05	+0.015%	$732K	$3.7M	10x	as long as short
Binance SPCXUSDT	+0.0210%	8h	153.08	+0.035%	$252.8M	$1.38B	75x	as long as short
Polymarket Perps SPCX-USD	+0.0241%	1h	153.06	+0.020%	$490K	$1.1M	10x	as long as short
Phoenix SPCX	+0.0314%	1h	153.05	+0.013%	$445K	$271K	15x	as long as short
Aster SPCXUSD1	+0.0323%	8h	153.05	+0.015%	$19.0M	$21.2M	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0328%	1h	153.14	+0.072%	$734K	$971K	10x	as long as short
Bitget SPCXUSDT	+0.0332%	8h	153.12	+0.059%	$31.3M	$66.7M	75x	as long as short
tradeXYZ xyz:SPCX	+0.0390%	1h	153.03	0.000%	$143.4M	$119.2M	20x	as long as short
RISEx SPCX/USDCshort	+0.0409%	1h	153.11	+0.054%	$401K	$535K	20x
Bullet SPCX-USD	+0.0451%	1h	153.09	+0.039%	$11K	$187K	10x	as long as short
edgeX SPCXUSDC	+0.0706%	4h	153.00	−0.022%	$1.7M	$892K	20x	as long as short