Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0250%/8h= +27.4% APRpaid last 24h +0.023%

Price spread now: Bitget against Polymarket Perps+0.052%7-day average +0.081% · 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−$26as in the Price arb table

costs, in and out, $10k−$230.229% of the position

Long on Polymarket Perps Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 7 days−0.010%−$1 · spread now +0.052%, 7d avg +0.081%

Together, before fees−0.025%−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.029% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread +0.052% now, against its 7-day average of +0.081%). If the spread goes back, that is −$3 on $10k: about 9 hours of funding at the current rate (+$7 a day).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.014% in total (about -0.7% 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	Polymarket Perps SPCX-USD	153.06	0.0050	pay 0.0006% / 1h	12m 44s	$489K	$1.1M	10x
Short	Bitget SPCXUSDT	153.14	0.0300	get 0.0300% / 8h	7h 12m	$31.6M	$66.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Polymarket Perps. 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 Polymarket PerpsbpFee BitgetbpOrdersPrice spread, now +0.052%Rate

Funding earned: $52.5
Price spread: +0.052% → +0.081%: −$2.88
Slippage, 4 orders: −$2.93
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: $26.69
Costs to cover: 0.229%
Break-even: 3.4 days

Slippage from Polymarket Perps: live order book, just now; Bitget: live order book, 1 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 Polymarket Perps live order book, just now	0.98 bp	5.0 bp −$5	7.2 bp −$72	8.5 bp −$854	doesn't fit
Sell Bitget live order book, 1 min ago	0.33 bp	6.3 bp −$6	6.4 bp −$64	22.4 bp −$2,236	38.9 bp −$19.4K

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 −0.0323% / S +0.0524%	1h	153.07	+0.010%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.07	+0.007%	$96.4M	$31.3M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.713%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.97	−0.059%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.29	+0.150%	$8K	$954K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.09	+0.020%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0028%	1h	152.99	−0.047%	$8K	$8K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	153.02	−0.026%	$2.5M	$7.5M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+2.737%	$9K	$27K	5.5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.09	+0.020%	—	$1.2M	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SPCX	+0.0048%	1h	153.04	−0.013%	$1.6M	$7.4M	20x	as long as short
Polymarket Perps SPCX-USDlong	+0.0050%	1h	153.06	long leg	$489K	$1.1M	10x
SoDEX SPCX-USD	+0.0050%	1h	153.08	+0.013%	$1.7M	$86K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	153.13	+0.046%	$534K	$407K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.92	−0.091%	$3.2M	$2.6M	10x	as long as short
QFEX SPCX-USD	+0.0063%	1h	153.06	0.000%	$1.2M	$7.2M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0097%	8h	153.12	+0.039%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	153.01	−0.033%	$173K	$129K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.99	−0.046%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.01	−0.033%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.13	+0.046%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.11	+0.035%	$89	—	10x	as long as short
BloFin SPCX-USDT	+0.0122%	8h	153.13	+0.046%	$1.9M	$1.4M	75x	as long as short
Bybit SPCXUSDT	+0.0167%	8h	153.13	+0.046%	$30.9M	$42.8M	100x	as long as short
Arcus SPCX-USD	+0.0194%	1h	153.02	−0.026%	$105K	$297K	5x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0208%	1h	153.05	−0.007%	$72K	$1.1M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0217%	8h	153.11	+0.033%	$39.3M	$169.1M	75x	as long as short
tradeXYZ xyz:SPCX	+0.0222%	1h	153.05	−0.007%	$143.1M	$119.3M	20x	as long as short
Variational Omni SPCX	+0.0226%	8h	153.06	+0.001%	$6.0M	$3.5M	—	as long as short
Bullet SPCX-USD	+0.0232%	1h	153.12	+0.039%	$11K	$188K	10x	as long as short
Extended SPCX-USD	+0.0240%	1h	153.08	+0.010%	$734K	$3.9M	10x	as long as short
Nado SPCX-PERP	+0.0242%	1h	152.99	−0.044%	$620K	$853K	20x	as long as short
Binance SPCXUSDT	+0.0242%	8h	153.11	+0.033%	$252.8M	$1.38B	75x	as long as short
Bitget SPCXUSDTshort	+0.0300%	8h	153.14	+0.052%	$31.6M	$66.7M	75x
Phoenix SPCX	+0.0314%	1h	153.08	+0.013%	$445K	$271K	15x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0328%	1h	153.01	−0.033%	$731K	$977K	10x	as long as short
edgeX SPCXUSDC	+0.0339%	4h	153.07	+0.005%	$1.7M	$894K	20x	as long as short
Aster SPCXUSD1	+0.0382%	8h	153.12	+0.039%	$19.0M	$18.4M	20x	as long as short
RISEx SPCX/USDC	+0.0409%	1h	153.15	+0.056%	$401K	$536K	20x	as long as short