Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0134%/8h= −14.6% APRpaid last 24h −0.033%

Price spread now: OKX against Phoenix+0.033%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$230.231% of the position

Long on Phoenix Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 4 days (all we have)−0.279%−$28 · spread now +0.033%, 7d avg −0.010%

Together, before fees−0.356%−$36 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.043% dearer against Phoenix than usual: you sell high and buy low (spread +0.033% now, against its 7-day average of −0.010%): +$4 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 25 hours. At the pace of the last 7 days (−0.077% in total) that is about 3.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SPCX	152.64	0.0209	pay 0.0026% / 1h	27m 23s	$448K	$271K	15x
Short	OKX SPCX-USDT-SWAP	152.69	0.0076	get 0.0076% / 8h	5h 27m	$39.5M	$168.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$28.04
Price spread: +0.033% → −0.010%: $4.25
Slippage, 4 orders: −$6.12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$46.91
Costs to cover: 0.231%
Break-even: never at this rate

Slippage from Phoenix: live order book, 18 min ago; OKX: 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, 18 min ago	0.33 bp	6.3 bp −$6	19.8 bp −$198	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.33 bp	5.3 bp −$5	6.4 bp −$64	12.9 bp −$1,289	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	152.56	−0.049%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0075%	8h	152.67	+0.020%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.67	+0.020%	$30.0M	$43.3M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.64	0.000%	$96.2M	$32.8M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.72	+0.052%	$31.1M	$67.0M	75x	as long as short
StandX SPCX-USD	0.0000%	1h	152.71	+0.046%	$306K	$2.6M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.86	+0.144%	$8K	$814K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	0.0000%	1h	152.59	−0.033%	$44K	$1.4M	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.73	+0.059%	$1.3M	$1.7M	75x	as long as short
Variational Omni SPCX	+0.0010%	8h	152.62	−0.014%	$5.9M	$2.7M	—	as long as short

Show all 38 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps SPCXUSD	+0.0020%	1h	152.61	−0.021%	$7K	$7K	10x	as long as short
QFEX SPCX-USD	+0.0030%	1h	152.67	+0.020%	$1.2M	$5.4M	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.63	−0.007%	$1.6M	$7.5M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.59	−0.033%	$2.5M	$7.3M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	152.78	+0.092%	$9K	$28K	5.5x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.57	−0.046%	$103K	$292K	5x	as long as short
Binance SPCXUSDT	+0.0044%	8h	152.68	+0.026%	$251.7M	$1.38B	75x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.61	−0.020%	—	$1.2M	10x	as long as short
Extended SPCX-USD	+0.0048%	1h	152.62	−0.013%	$728K	$5.3M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.58	−0.039%	$128.3M	$129.9M	20x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.62	−0.013%	$1.7M	$56K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.63	−0.007%	$532K	$371K	50x	as long as short
Paradex SPCX-USD-PERP	+0.0050%	8h	152.66	+0.011%	$101	—	5x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.57	−0.046%	$3.0M	$2.1M	10x	as long as short
RISEx SPCX/USDC	+0.0051%	1h	152.70	+0.037%	$351K	$518K	20x	as long as short
OKX SPCX-USDT-SWAPshort	+0.0076%	8h	152.69	+0.033%	$39.5M	$168.6M	75x
Bullet SPCX-USD	+0.0091%	1h	152.69	+0.032%	$11K	$191K	10x	as long as short
Pacifica SPCX	+0.0100%	1h	152.60	−0.026%	$169K	$114K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.56	−0.052%	$13.0M	$6.3M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.54	−0.066%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.67	+0.020%	$15K	$7K	10x	as long as short
Polymarket Perps SPCX-USD	+0.0100%	1h	152.68	+0.026%	$487K	$1.1M	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.64	−0.001%	$89	—	10x	as long as short
Nado SPCX-PERP	+0.0111%	1h	152.62	−0.016%	$632K	$805K	20x	as long as short
edgeX SPCXUSDC	+0.0130%	4h	152.63	−0.009%	$1.7M	$888K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0136%	1h	152.70	+0.039%	$735K	$1.1M	10x	as long as short
Phoenix SPCXlong	+0.0209%	1h	152.64	long leg	$448K	$271K	15x
Aster SPCXUSD1	+0.0397%	8h	152.80	+0.105%	$19.0M	$30.6M	20x	as long as short