SPCX

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0212%/8h= −23.2% APRnext payment −$0.26 per $10,000 · paid last 24h −0.035%

Price spread now: Polymarket Perps against Phoenix−0.020%59s7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as 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−$230.232% of the position

Long on Phoenix Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 4 days (all we have)−0.033%−$3 · spread now −0.020%, 7d avg −0.035%

Together, before fees−0.023%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.035%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.010% in total (about 0.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.26 per $10,000. 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	Phoenix SPCX	153.00	0.0262	pay 0.0033% / 1h	31m 35s	$445K	$267K	15x
Short	Polymarket Perps SPCX-USD	152.97	0.0050	get 0.0006% / 1h	31m 35s	$499K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.020%Rate

Funding earned: −$44.42
Price spread: −0.020% → −0.035%: $1.5
Slippage, 4 orders: −$8.19
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$66.11
Costs to cover: 0.232%
Break-even: never at this rate

Slippage from Phoenix: live order book, 31 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 Phoenix live order book, 31 min ago	0.33 bp	7.8 bp −$8	24.0 bp −$240	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	1.31 bp	5.3 bp −$5	6.2 bp −$62	9.3 bp −$930	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 −0.0333% / S +0.0531%	1h	152.97	−0.016%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.98	−0.013%	$96.1M	$31.3M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	153.04	+0.026%	$31.7M	$66.1M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.764%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.91	−0.059%	$302K	$3.0M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.22	+0.144%	$8K	$939K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.02	+0.013%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0025%	1h	152.97	−0.020%	$8K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.96	−0.026%	$1.6M	$7.2M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.93	−0.046%	$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
Bybit SPCXUSDT	+0.0035%	8h	153.02	+0.013%	$30.8M	$42.8M	100x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.94	−0.039%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.97	−0.020%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0048%	1h	153.00	0.000%	$1.2M	$6.5M	10x	as long as short
Polymarket Perps SPCX-USDshort	+0.0050%	1h	152.97	−0.020%	$499K	$1.2M	10x
SoDEX SPCX-USD	+0.0050%	1h	152.98	−0.013%	$1.7M	$93K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	153.00	0.000%	$534K	$401K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.86	−0.092%	$3.2M	$2.5M	10x	as long as short
BloFin SPCX-USDT	+0.0067%	8h	153.04	+0.026%	$1.9M	$1.4M	75x	as long as short
Paradex SPCX-USD-PERP	+0.0075%	8h	153.02	+0.015%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.91	−0.059%	$169K	$129K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.91	−0.059%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.05	+0.033%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.03	+0.020%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.01	+0.004%	$89	—	10x	as long as short
Bullet SPCX-USD	+0.0149%	1h	153.02	+0.013%	$11K	$190K	10x	as long as short
Variational Omni SPCX	+0.0173%	8h	153.00	−0.003%	$6.0M	$3.1M	—	as long as short
OKX SPCX-USDT-SWAP	+0.0178%	8h	153.03	+0.020%	$39.5M	$167.7M	75x	as long as short
Extended SPCX-USD	+0.0184%	1h	152.97	−0.022%	$736K	$3.8M	10x	as long as short
Binance SPCXUSDT	+0.0187%	8h	153.02	+0.013%	$252.7M	$1.37B	75x	as long as short
tradeXYZ xyz:SPCX	+0.0189%	1h	152.97	−0.020%	$142.1M	$119.4M	20x	as long as short
RISEx SPCX/USDC	+0.0199%	1h	153.04	+0.026%	$408K	$549K	20x	as long as short
Nado SPCX-PERP	+0.0204%	1h	152.90	−0.063%	$622K	$831K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	153.01	+0.007%	$738K	$980K	10x	as long as short
Phoenix SPCXlong	+0.0262%	1h	153.00	long leg	$445K	$267K	15x
Deribit SPCX_USDC-PERPETUAL	+0.0273%	1h	152.96	−0.026%	$73K	$1.2M	10x	as long as short
Aster SPCXUSD1	+0.0407%	8h	153.10	+0.065%	$19.0M	$17.2M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.28	+0.183%	$9K	$27K	5.5x	as long as short
edgeX SPCXUSDC	+0.0946%	4h	153.02	+0.010%	$1.7M	$893K	20x	as long as short