Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0186%/8h= +20.3% APRpaid last 24h +0.003%

Price spread now: Aster against Phoenix+0.098%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$240.240% of the position

Long on Phoenix Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.261%−$26 · spread now +0.098%, 7d avg +0.009%

Together, before fees−0.261%+ Points / potential airdropAster: Stage 5 · farm board−$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Aster is 0.089% dearer against Phoenix than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.009%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.000% in total (about 0.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SPCX	152.73	0.0209	pay 0.0026% / 1h	57m 26s	$448K	$271K	15x
Short	Aster SPCXUSD1	152.88	0.0395	get 0.0395% / 8h	5h 57m	$19.0M	$30.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Phoenix. 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 PhoenixbpFee AsterbpOrdersPrice spread, now +0.098%Rate

Funding earned: $38.96
Price spread: +0.098% → +0.009%: $8.9
Slippage, 4 orders: −$9.03
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: $23.84
Costs to cover: 0.240%
Break-even: 2.7 days

Slippage from Phoenix: live order book, 53 min ago; Aster: live order book, 5 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 Phoenix live order book, 53 min ago	0.33 bp	7.7 bp −$8	27.6 bp −$276	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	0.33 bp	5.5 bp −$5	11.4 bp −$114	doesn't fit	doesn't fit

SPCX on 38 exchanges

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 −0.0187% / S +0.0435%	1h	152.62	−0.075%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0057%	8h	152.75	+0.013%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.73	0.000%	$30.3M	$43.4M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.69	−0.026%	$96.1M	$32.5M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.77	+0.026%	$31.0M	$67.1M	75x	as long as short
StandX SPCX-USD	0.0000%	1h	152.72	−0.007%	$306K	$2.6M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.96	+0.151%	$8K	$820K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	0.0000%	1h	152.64	−0.059%	$46K	$1.4M	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.84	+0.072%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0020%	1h	152.70	−0.022%	$7K	$7K	10x	as long as short

Show all 38 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SPCX-USD	+0.0030%	1h	152.65	−0.052%	$1.2M	$5.4M	10x	as long as short
Variational Omni SPCX	+0.0031%	8h	152.74	+0.006%	$5.9M	$2.6M	—	as long as short
Lighter SPCX	+0.0032%	1h	152.64	−0.059%	$1.6M	$7.4M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.63	−0.065%	$2.5M	$7.2M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	152.78	+0.033%	$9K	$28K	5.5x	as long as short
Bullet SPCX-USD	+0.0034%	1h	152.71	−0.013%	$12K	$191K	10x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.63	−0.065%	$103K	$294K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.68	−0.033%	—	$1.2M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.62	−0.072%	$128.4M	$129.8M	20x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.69	−0.026%	$1.7M	$103K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.69	−0.026%	$533K	$365K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.62	−0.072%	$3.0M	$2.1M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0051%	8h	152.68	−0.035%	$101	—	5x	as long as short
RISEx SPCX/USDC	+0.0051%	1h	152.74	+0.007%	$351K	$518K	20x	as long as short
Binance SPCXUSDT	+0.0063%	8h	152.72	−0.007%	$251.9M	$1.38B	75x	as long as short
Extended SPCX-USD	+0.0064%	1h	152.67	−0.040%	$724K	$5.4M	10x	as long as short
Nado SPCX-PERP	+0.0072%	1h	152.67	−0.039%	$632K	$805K	20x	as long as short
OKX SPCX-USDT-SWAP	+0.0089%	8h	152.74	+0.007%	$39.5M	$168.6M	75x	as long as short
Polymarket Perps SPCX-USD	+0.0090%	1h	152.72	−0.007%	$488K	$1.1M	10x	as long as short
Pacifica SPCX	+0.0100%	1h	152.61	−0.079%	$169K	$117K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.65	−0.052%	$13.0M	$6.1M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.76	+0.020%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.72	−0.007%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.68	−0.034%	$89	—	10x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0136%	1h	152.85	+0.079%	$739K	$1.1M	10x	as long as short
Phoenix SPCXlong	+0.0209%	1h	152.73	long leg	$448K	$271K	15x
edgeX SPCXUSDC	+0.0374%	4h	152.72	−0.004%	$1.7M	$891K	20x	as long as short
Aster SPCXUSD1short	+0.0395%	8h	152.88	+0.098%	$19.0M	$30.6M	20x