SPCX

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0265%/8h= +29.0% APRnext payment +$0.33 per $10,000 · paid last 24h +0.037%

Price spread now: Phoenix against QFEX+0.013%52s7-day average +0.029% · 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—prices read too far apart to compare

costs, in and out, $10k−$250.251% of the position

Long on QFEX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.070%+$7 on $10k

Price spread, last 4 days (all we have)+0.973%+$97 · spread now +0.013%, 7d avg +0.029%

Together, before fees+1.043%+$104 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.029%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate. The two prices were read 52 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 3 days it paid 0.070% in total (about 7.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.33 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	QFEX SPCX-USD	153.05	0.0049	pay 0.0006% / 1h	21m 40s	$1.2M	$6.8M	10x
Short	Phoenix SPCX	153.07	0.0314	get 0.0039% / 1h	21m 40s	$445K	$270K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.013%Rate

Funding earned: $55.64
Price spread: +0.013% → +0.029%: −$1.59
Slippage, 4 orders: −$8.13
Fee QFEX: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $28.93
Costs to cover: 0.251%
Break-even: 3.4 days

Slippage from QFEX: live order book, 7 min ago; Phoenix: live order book, 45 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, 7 min ago	1.31 bp	6.3 bp −$6	9.2 bp −$92	doesn't fit	doesn't fit
Sell Phoenix live order book, 45 min ago	0.33 bp	5.5 bp −$6	17.1 bp −$171	doesn't fit	doesn't fit

SPCX on 38 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 −0.0344% / S +0.0539%	1h	153.06	+0.010%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.06	+0.007%	$96.1M	$31.3M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.726%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.96	−0.059%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.36	+0.203%	$8K	$946K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.13	+0.052%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0025%	1h	152.96	−0.057%	$7K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	153.05	0.000%	$1.6M	$7.2M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	153.02	−0.020%	$2.5M	$7.3M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	153.32	+0.176%	$9K	$27K	5.5x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus SPCX-USD	+0.0040%	1h	153.00	−0.033%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.06	+0.007%	—	$1.2M	10x	as long as short
QFEX SPCX-USDlong	+0.0049%	1h	153.05	long leg	$1.2M	$6.8M	10x
Polymarket Perps SPCX-USD	+0.0050%	1h	153.05	0.000%	$501K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.07	+0.013%	$1.7M	$90K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	153.09	+0.026%	$534K	$405K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.91	−0.091%	$3.2M	$2.6M	10x	as long as short
Bybit SPCXUSDT	+0.0086%	8h	153.12	+0.046%	$30.8M	$43.0M	100x	as long as short
Paradex SPCX-USD-PERP	+0.0089%	8h	153.12	+0.044%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.97	−0.052%	$169K	$133K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	153.01	−0.026%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.01	−0.026%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.09	+0.026%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.09	+0.028%	$89	—	10x	as long as short
Bitget SPCXUSDT	+0.0148%	8h	153.13	+0.052%	$31.9M	$66.2M	75x	as long as short
Bullet SPCX-USD	+0.0169%	1h	153.11	+0.039%	$11K	$189K	10x	as long as short
tradeXYZ xyz:SPCX	+0.0180%	1h	153.05	0.000%	$142.4M	$119.1M	20x	as long as short
OKX SPCX-USDT-SWAP	+0.0197%	8h	153.12	+0.046%	$39.4M	$169.0M	75x	as long as short
Variational Omni SPCX	+0.0207%	8h	153.07	+0.013%	$6.0M	$3.3M	—	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0208%	1h	153.04	−0.007%	$72K	$1.1M	10x	as long as short
Binance SPCXUSDT	+0.0222%	8h	153.09	+0.026%	$252.8M	$1.37B	75x	as long as short
Extended SPCX-USD	+0.0224%	1h	153.06	+0.006%	$736K	$3.8M	10x	as long as short
Nado SPCX-PERP	+0.0244%	1h	152.97	−0.053%	$622K	$839K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0288%	1h	152.97	−0.052%	$738K	$983K	10x	as long as short
Phoenix SPCXshort	+0.0314%	1h	153.07	+0.013%	$445K	$270K	15x
Aster SPCXUSD1	+0.0408%	8h	153.13	+0.053%	$19.0M	$14.9M	20x	as long as short
RISEx SPCX/USDC	+0.0410%	1h	153.11	+0.038%	$408K	$539K	20x	as long as short
edgeX SPCXUSDC	+0.0774%	4h	153.05	−0.001%	$1.7M	$892K	20x	as long as short