Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0048%/8h= +5.2% APRpaid last 24h +0.010%

Price spread now: KuCoin against QFEX−0.052%7-day average −0.012% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$380.380% of the position

Long on QFEX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.046%+$5 on $10k

Price spread, last 7 days−0.015%−$1 · spread now −0.052%, 7d avg −0.012%

Together, before fees+0.031%+$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.040% cheaper against QFEX than usual: you would sell low and buy high (spread −0.052% now, against its 7-day average of −0.012%). If the spread goes back, that is −$4 on $10k: about 2.8 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SPCX-USD	152.87	0.0052	pay 0.0007% / 1h	17m 37s	$1.2M	$7.7M	10x
Short	KuCoin SPCXUSDTM	152.79	0.0100	get 0.0100% / 8h	17m 37s	$13.0M	$5.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.052%Rate

Funding earned: $10.01
Price spread: −0.052% → −0.012%: −$4.05
Slippage, 4 orders: −$15.95
Fee QFEX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$31.99
Costs to cover: 0.380%
Break-even: 29.4 days

Slippage from QFEX: live order book, 6 min ago; KuCoin: live order book, 6 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, 6 min ago	1.31 bp	6.3 bp −$6	7.4 bp −$74	17.4 bp −$1,735	doesn't fit
Sell KuCoin live order book, 6 min ago	0.98 bp	13.6 bp −$14	39.3 bp −$393	doesn't fit	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 −0.0278% / S +0.0492%	1h	152.87	−0.003%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.89	+0.013%	$96.6M	$31.4M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.51	+12.851%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.81	−0.039%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.10	+0.150%	$8K	$972K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.89	+0.013%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0030%	1h	152.83	−0.026%	$7K	$10K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.84	−0.020%	$2.5M	$7.6M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+2.865%	$9K	$27K	5.5x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.84	−0.020%	$105K	$297K	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SPCX-USD-PERP	+0.0046%	1h	152.86	−0.007%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.87	0.000%	$489K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.89	+0.013%	$1.7M	$79K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.82	−0.033%	$535K	$410K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.79	−0.052%	$3.2M	$2.8M	10x	as long as short
QFEX SPCX-USDlong	+0.0052%	1h	152.87	long leg	$1.2M	$7.7M	10x
BloFin SPCX-USDT	+0.0078%	8h	152.92	+0.033%	$1.9M	$1.4M	75x	as long as short
Paradex SPCX-USD-PERP	+0.0093%	8h	152.90	+0.022%	$101	—	5x	as long as short
Lighter SPCX	+0.0096%	1h	152.89	+0.013%	$1.6M	$7.4M	20x	as long as short
Pacifica SPCX	+0.0100%	1h	152.83	−0.026%	$173K	$130K	10x	as long as short
KuCoin SPCXUSDTMshort	+0.0100%	8h	152.79	−0.052%	$13.0M	$5.5M	20x
ApeX Omni SPCXUSDT	+0.0100%	1h	152.85	−0.013%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.90	+0.020%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.93	+0.037%	$89	—	10x	as long as short
Bullet SPCX-USD	+0.0148%	1h	152.91	+0.026%	$12K	$188K	10x	as long as short
Bybit SPCXUSDT	+0.0151%	8h	152.94	+0.046%	$30.7M	$42.8M	100x	as long as short
Variational Omni SPCX	+0.0176%	8h	152.93	+0.042%	$6.0M	$3.5M	—	as long as short
OKX SPCX-USDT-SWAP	+0.0195%	8h	152.91	+0.026%	$38.9M	$169.4M	75x	as long as short
Binance SPCXUSDT	+0.0199%	8h	152.91	+0.025%	$253.1M	$1.39B	75x	as long as short
Extended SPCX-USD	+0.0200%	1h	152.88	+0.007%	$734K	$3.6M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0252%	1h	152.87	0.000%	$143.5M	$119.4M	20x	as long as short
Phoenix SPCX	+0.0261%	1h	152.91	+0.026%	$446K	$269K	15x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0280%	1h	152.97	+0.065%	$733K	$970K	10x	as long as short
Nado SPCX-PERP	+0.0296%	1h	152.76	−0.070%	$601K	$885K	20x	as long as short
Aster SPCXUSD1	+0.0298%	8h	152.99	+0.078%	$19.0M	$21.3M	20x	as long as short
Bitget SPCXUSDT	+0.0311%	8h	152.91	+0.026%	$31.2M	$67.3M	75x	as long as short
RISEx SPCX/USDC	+0.0339%	1h	152.96	+0.061%	$403K	$539K	20x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0601%	1h	152.89	+0.013%	$71K	$1.0M	10x	as long as short
edgeX SPCXUSDC	+0.0783%	4h	152.90	+0.019%	$1.7M	$893K	20x	as long as short