Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0020%/8h= −2.1% APRpaid last 24h +0.001%

Price spread now: Bybit against Polymarket Perps+0.026%7-day average +0.065% · 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−$30as in the Price arb table

costs, in and out, $10k−$260.258% of the position

Long on Polymarket Perps Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.057%−$6 on $10k

Price spread, last 7 days−0.011%−$1 · spread now +0.026%, 7d avg +0.065%

Together, before fees−0.068%−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.039% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.065%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps SPCX-USD	152.96	0.0050	pay 0.0006% / 1h	35m 02s	$499K	$1.2M	10x
Short	Bybit SPCXUSDT	153.00	0.0030	get 0.0030% / 8h	5h 35m	$30.8M	$42.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$4.11
Price spread: +0.026% → +0.065%: −$3.88
Slippage, 4 orders: −$6.8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$33.79
Costs to cover: 0.258%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; Bybit: live order book, 4 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, 3 min ago	1.96 bp	6.0 bp −$6	6.9 bp −$69	8.7 bp −$871	doesn't fit
Sell Bybit live order book, 4 min ago	0.33 bp	7.2 bp −$7	9.8 bp −$98	39.1 bp −$3,914	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	+0.010%	$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
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.793%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.93	−0.020%	$302K	$3.0M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.20	+0.157%	$8K	$940K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.02	+0.039%	$1.3M	$1.7M	75x	as long as short
Bitget SPCXUSDT	+0.0001%	8h	153.04	+0.052%	$31.7M	$66.1M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0025%	1h	152.97	+0.007%	$8K	$8K	10x	as long as short
Bybit SPCXUSDTshort	+0.0030%	8h	153.00	+0.026%	$30.8M	$42.8M	100x
Lighter SPCX	+0.0032%	1h	152.94	−0.013%	$1.6M	$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
Lighter RH SPCX	+0.0032%	1h	152.92	−0.026%	$2.5M	$7.2M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.94	−0.013%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.98	+0.013%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0048%	1h	152.96	0.000%	$1.2M	$6.6M	10x	as long as short
Polymarket Perps SPCX-USDlong	+0.0050%	1h	152.96	long leg	$499K	$1.2M	10x
SoDEX SPCX-USD	+0.0050%	1h	152.99	+0.020%	$1.7M	$93K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	153.00	+0.026%	$534K	$402K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.85	−0.072%	$3.2M	$2.5M	10x	as long as short
BloFin SPCX-USDT	+0.0067%	8h	153.02	+0.039%	$1.9M	$1.4M	75x	as long as short
Paradex SPCX-USD-PERP	+0.0072%	8h	153.01	+0.031%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.91	−0.033%	$169K	$129K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.92	−0.026%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.93	−0.020%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.02	+0.039%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.99	+0.020%	$89	—	10x	as long as short
Bullet SPCX-USD	+0.0136%	1h	153.02	+0.038%	$11K	$190K	10x	as long as short
Variational Omni SPCX	+0.0173%	8h	153.00	+0.023%	$6.0M	$3.1M	—	as long as short
OKX SPCX-USDT-SWAP	+0.0178%	8h	153.05	+0.059%	$39.5M	$167.8M	75x	as long as short
tradeXYZ xyz:SPCX	+0.0181%	1h	152.97	+0.007%	$142.0M	$119.4M	20x	as long as short
Extended SPCX-USD	+0.0184%	1h	152.98	+0.014%	$736K	$3.8M	10x	as long as short
Binance SPCXUSDT	+0.0187%	8h	153.02	+0.042%	$252.7M	$1.37B	75x	as long as short
Nado SPCX-PERP	+0.0193%	1h	152.91	−0.031%	$622K	$831K	20x	as long as short
RISEx SPCX/USDC	+0.0199%	1h	153.01	+0.029%	$408K	$549K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	153.01	+0.033%	$738K	$980K	10x	as long as short
Phoenix SPCX	+0.0262%	1h	153.02	+0.039%	$445K	$267K	15x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0273%	1h	152.96	0.000%	$73K	$1.2M	10x	as long as short
edgeX SPCXUSDC	+0.0344%	4h	153.00	+0.025%	$1.7M	$892K	20x	as long as short
Aster SPCXUSD1	+0.0404%	8h	153.09	+0.082%	$19.0M	$17.1M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.28	+0.209%	$9K	$27K	5.5x	as long as short