Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0124%/8h= +13.6% APRpaid last 24h +0.009%

Price spread now: Variational Omni against QFEX−0.003%7-day average +0.040% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on QFEX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.007%+$1 on $10k

Price spread, last 7 days+0.015%+$2 · spread now −0.003%, 7d avg +0.040%

Together, before fees+0.022%+ Points / potential airdropVariational Omni: Active · farm board+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.043% cheaper against QFEX than usual: you would sell low and buy high (spread −0.003% now, against its 7-day average of +0.040%). If the spread goes back, that is −$4 on $10k: about 28 hours of funding at the current rate (+$4 a day). At the pace of the last 3 days (+0.007% in total) that is about 21 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SPCX-USD	153.00	0.0048	pay 0.0006% / 1h	31m 32s	$1.2M	$6.5M	10x
Short	Variational Omni SPCX	153.00	0.0173	get 0.0173% / 8h	5h 31m	$6.0M	$3.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.003%Rate

Funding earned: $26.11
Price spread: −0.003% → +0.040%: −$4.28
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $11.83
Costs to cover: 0.100%
Break-even: 3.8 days

Slippage unknown: QFEX: live order book, 7 min ago; Variational Omni: RFQ quote, 3 min ago. Net counts fees only.

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	10.8 bp −$108	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	2.35 bp	doesn't fit	2.8 bp −$28	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 −0.0333% / S +0.0531%	1h	152.97	−0.016%	$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
Bitget SPCXUSDT	0.0000%	8h	153.04	+0.026%	$31.7M	$66.1M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.764%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.91	−0.059%	$302K	$3.0M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.22	+0.144%	$8K	$939K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.02	+0.013%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0025%	1h	152.97	−0.020%	$8K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.96	−0.026%	$1.6M	$7.2M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.93	−0.046%	$2.5M	$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
Bybit SPCXUSDT	+0.0035%	8h	153.02	+0.013%	$30.8M	$42.8M	100x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.94	−0.039%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.97	−0.020%	—	$1.2M	10x	as long as short
QFEX SPCX-USDlong	+0.0048%	1h	153.00	long leg	$1.2M	$6.5M	10x
Polymarket Perps SPCX-USD	+0.0050%	1h	152.97	−0.020%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.98	−0.013%	$1.7M	$93K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	153.00	0.000%	$534K	$401K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.86	−0.092%	$3.2M	$2.5M	10x	as long as short
BloFin SPCX-USDT	+0.0067%	8h	153.04	+0.026%	$1.9M	$1.4M	75x	as long as short
Paradex SPCX-USD-PERP	+0.0075%	8h	153.02	+0.015%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.91	−0.059%	$169K	$129K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.91	−0.059%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.05	+0.033%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.03	+0.020%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.01	+0.004%	$89	—	10x	as long as short
Bullet SPCX-USD	+0.0149%	1h	153.02	+0.013%	$11K	$190K	10x	as long as short
Variational Omni SPCXshort	+0.0173%	8h	153.00	−0.003%	$6.0M	$3.1M	—
OKX SPCX-USDT-SWAP	+0.0178%	8h	153.03	+0.020%	$39.5M	$167.7M	75x	as long as short
Extended SPCX-USD	+0.0184%	1h	152.97	−0.022%	$736K	$3.8M	10x	as long as short
Binance SPCXUSDT	+0.0187%	8h	153.02	+0.013%	$252.7M	$1.37B	75x	as long as short
tradeXYZ xyz:SPCX	+0.0189%	1h	152.97	−0.020%	$142.1M	$119.4M	20x	as long as short
RISEx SPCX/USDC	+0.0199%	1h	153.04	+0.026%	$408K	$549K	20x	as long as short
Nado SPCX-PERP	+0.0204%	1h	152.90	−0.063%	$622K	$831K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	153.01	+0.007%	$738K	$980K	10x	as long as short
Phoenix SPCX	+0.0262%	1h	153.00	0.000%	$445K	$267K	15x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0273%	1h	152.96	−0.026%	$73K	$1.2M	10x	as long as short
Aster SPCXUSD1	+0.0407%	8h	153.10	+0.065%	$19.0M	$17.2M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.28	+0.183%	$9K	$27K	5.5x	as long as short
edgeX SPCXUSDC	+0.0946%	4h	153.02	+0.010%	$1.7M	$893K	20x	as long as short