Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h +0.005%

Price spread now: Bybit against QFEX+0.020%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$270.265% of the position

Long on QFEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.003%$0 on $10k

Price spread, last 7 days−0.018%−$2 · spread now +0.020%, 7d avg +0.035%

Together, before fees−0.016%−$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: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SPCX-USD	153.05	0.0046	pay 0.0006% / 1h	43m 50s	$1.2M	$6.3M	10x
Short	Bybit SPCXUSDT	153.08	0	get 0.0000% / 8h	4h 43m	$30.8M	$42.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against QFEX. 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 QFEXbpFee BybitbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$9.63
Price spread: +0.020% → +0.035%: −$1.52
Slippage, 4 orders: −$5.51
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$37.66
Costs to cover: 0.265%
Break-even: never at this rate

Slippage from QFEX: live order book, 5 min ago; Bybit: 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 QFEX live order book, 5 min ago	0.98 bp	6.0 bp −$6	6.7 bp −$67	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.33 bp	6.9 bp −$7	8.9 bp −$89	42.6 bp −$4,264	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 −0.0314% / S +0.0531%	1h	153.06	+0.010%	$91K	—	20x	as long as short
Bybit SPCXUSDTshort	0.0000%	8h	153.08	+0.020%	$30.8M	$42.9M	100x
Gate SPCX_USDT	0.0000%	8h	153.09	+0.026%	$96.3M	$31.3M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	153.14	+0.059%	$31.7M	$65.4M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.725%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	153.01	−0.026%	$302K	$3.0M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.33	+0.183%	$8K	$936K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.09	+0.026%	$1.3M	$1.7M	75x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0011%	1h	153.04	−0.007%	$73K	$1.2M	10x	as long as short
Aftermath Perps SPCXUSD	+0.0023%	1h	153.03	−0.012%	$8K	$8K	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	+0.0032%	1h	153.07	+0.013%	$1.6M	$7.3M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	153.02	−0.020%	$2.5M	$7.2M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	153.01	−0.026%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.10	+0.033%	—	$1.2M	10x	as long as short
QFEX SPCX-USDlong	+0.0046%	1h	153.05	long leg	$1.2M	$6.3M	10x
BloFin SPCX-USDT	+0.0046%	8h	153.10	+0.033%	$1.9M	$1.4M	75x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	153.06	+0.007%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.08	+0.020%	$1.7M	$95K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	153.09	+0.026%	$533K	$397K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.92	−0.085%	$3.2M	$2.5M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0066%	8h	153.09	+0.025%	$101	—	5x	as long as short
tradeXYZ xyz:SPCX	+0.0077%	1h	153.07	+0.013%	$141.5M	$119.2M	20x	as long as short
Bullet SPCX-USD	+0.0088%	1h	153.11	+0.039%	$11K	$192K	10x	as long as short
Pacifica SPCX	+0.0100%	1h	153.00	−0.033%	$169K	$130K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.99	−0.039%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.01	−0.026%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.10	+0.033%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.09	+0.026%	$89	—	10x	as long as short
Nado SPCX-PERP	+0.0139%	1h	153.02	−0.020%	$617K	$824K	20x	as long as short
Variational Omni SPCX	+0.0154%	8h	153.07	+0.011%	$6.0M	$3.1M	—	as long as short
OKX SPCX-USDT-SWAP	+0.0158%	8h	153.13	+0.052%	$39.5M	$167.0M	75x	as long as short
Binance SPCXUSDT	+0.0165%	8h	153.11	+0.039%	$252.3M	$1.37B	75x	as long as short
Extended SPCX-USD	+0.0168%	1h	153.07	+0.013%	$738K	$3.8M	10x	as long as short
RISEx SPCX/USDC	+0.0191%	1h	153.13	+0.054%	$410K	$530K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	153.04	−0.007%	$738K	$925K	10x	as long as short
Phoenix SPCX	+0.0261%	1h	153.05	0.000%	$445K	$268K	15x	as long as short
edgeX SPCXUSDC	+0.0297%	4h	153.05	+0.003%	$1.7M	$893K	20x	as long as short
Aster SPCXUSD1	+0.0411%	8h	153.15	+0.064%	$19.0M	$19.3M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.35	+0.196%	$9K	$28K	5.5x	as long as short