Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0233%/8h= −25.5% APRpaid last 24h −0.034%

Price spread now: Bybit against RISEx+0.016%45s7-day average −0.053% · 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−$220.224% of the position

Long on RISEx Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.076%−$8 on $10k

Price spread, last 4 days (all we have)−0.053%−$5 · spread now +0.016%, 7d avg −0.053%

Together, before fees−0.129%−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.069% dearer against RISEx than usual: you sell high and buy low (spread +0.016% now, against its 7-day average of −0.053%): +$7 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 24 hours. At the pace of the last 3 days (−0.076% in total) that is about 3.1 days. The two prices were read 45 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 -0.076% in total (about -8.1% a year). A funding rate is set anew for every payment. 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	RISEx SPCX/USDC	152.99	0.0409	pay 0.0051% / 1h	32m 56s	$401K	$535K	20x
Short	Bybit SPCXUSDT	153.01	0.0176	get 0.0176% / 8h	7h 32m	$30.8M	$42.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against RISEx. 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 RISExbpFee BybitbpOrdersPrice spread, now +0.016%Rate

Funding earned: −$48.85
Price spread: +0.016% → −0.053%: $6.91
Slippage, 4 orders: −$5.44
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$64.38
Costs to cover: 0.224%
Break-even: never at this rate

Slippage from RISEx: live order book, 41 min ago; Bybit: live order book, 1 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 RISEx live order book, 41 min ago	0.98 bp	4.0 bp −$4	4.6 bp −$46	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.33 bp	6.5 bp −$7	8.7 bp −$87	27.4 bp −$2,735	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 −0.0310% / S +0.0515%	1h	152.93	−0.039%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.96	−0.016%	$96.4M	$31.2M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.767%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.81	−0.115%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.26	+0.180%	$8K	$958K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.93	−0.036%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0028%	1h	152.92	−0.044%	$7K	$8K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.89	−0.062%	$2.5M	$7.4M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+2.788%	$9K	$27K	5.5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.91	−0.049%	—	$1.2M	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	+0.0048%	1h	152.90	−0.056%	$1.6M	$7.4M	20x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.93	−0.036%	$1.7M	$86K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.95	−0.023%	$534K	$414K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.84	−0.095%	$3.2M	$2.6M	10x	as long as short
QFEX SPCX-USD	+0.0063%	1h	152.92	−0.043%	$1.2M	$7.4M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0068%	1h	152.92	−0.043%	$488K	$1.1M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0100%	8h	152.97	−0.011%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.85	−0.088%	$173K	$129K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.88	−0.069%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.85	−0.088%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.99	+0.003%	$15K	$7K	10x	as long as short
BloFin SPCX-USDT	+0.0103%	8h	152.94	−0.030%	$1.9M	$1.4M	75x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.94	−0.030%	$89	—	10x	as long as short
Bybit SPCXUSDTshort	+0.0176%	8h	153.01	+0.016%	$30.8M	$42.7M	100x
Arcus SPCX-USD	+0.0194%	1h	152.89	−0.062%	$105K	$297K	5x	as long as short
OKX SPCX-USDT-SWAP	+0.0206%	8h	152.98	−0.003%	$39.2M	$168.9M	75x	as long as short
Variational Omni SPCX	+0.0207%	8h	152.92	−0.042%	$6.0M	$3.5M	—	as long as short
Binance SPCXUSDT	+0.0223%	8h	153.00	+0.010%	$253.0M	$1.38B	75x	as long as short
Extended SPCX-USD	+0.0224%	1h	152.97	−0.011%	$732K	$3.8M	10x	as long as short
Nado SPCX-PERP	+0.0231%	1h	152.80	−0.120%	$603K	$852K	20x	as long as short
Bullet SPCX-USD	+0.0251%	1h	152.95	−0.023%	$11K	$188K	10x	as long as short
tradeXYZ xyz:SPCX	+0.0252%	1h	152.96	−0.016%	$143.1M	$119.4M	20x	as long as short
Phoenix SPCX	+0.0314%	1h	152.93	−0.036%	$445K	$271K	15x	as long as short
Bitget SPCXUSDT	+0.0323%	8h	153.01	+0.016%	$31.2M	$66.3M	75x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0328%	1h	152.96	−0.016%	$733K	$981K	10x	as long as short
Aster SPCXUSD1	+0.0345%	8h	153.06	+0.051%	$19.0M	$18.4M	20x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0404%	1h	152.92	−0.043%	$71K	$1.1M	10x	as long as short
RISEx SPCX/USDClong	+0.0409%	1h	152.99	long leg	$401K	$535K	20x
edgeX SPCXUSDC	+0.0823%	4h	152.93	−0.035%	$1.7M	$893K	20x	as long as short