Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0209%/8h= +22.9% APRpaid last 24h +0.043%

Price spread now: Deribit against SunX−0.157%7-day average −0.052% · 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−$90as in the Price arb table

costs, in and out, $10k−$800.799% of the position

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.100%+$10 on $10k

Price spread, last 3 days (all we have)+0.052%+$5 · spread now −0.157%, 7d avg −0.052%

Together, before fees+0.152%+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.105% cheaper against SunX than usual: you would sell low and buy high (spread −0.157% now, against its 7-day average of −0.052%). If the spread goes back, that is −$10 on $10k: about 40 hours of funding at the current rate (+$6 a day). At the pace of the last 5 days (+0.100% in total) that is about 4.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX SPCX-USDT	152.86	0	get 0.0000% / 8h	2h 21m	$8K	$990K	10x
Short	Deribit SPCX_USDC-PERPETUAL	152.62	0.0209	get 0.0026% / 1h	21m 20s	$70K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SunX. 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 SunXbpFee DeribitbpOrdersPrice spread, now −0.157%Rate

Funding earned: $43.86
Price spread: −0.157% → −0.052%: −$10.47
Slippage, 4 orders: −$64.86
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$46.46
Costs to cover: 0.799%
Break-even: 14.4 days

Slippage from SunX: live order book, 61 min ago; Deribit: live order book, 3 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 SunX live order book, 61 min ago	21.98 bp	26.0 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 3 min ago	5.24 bp	10.0 bp −$10	12.8 bp −$128	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 −0.0271% / S +0.0488%	1h	152.59	−0.180%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.62	−0.157%	$96.4M	$31.0M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.50	+12.851%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.68	−0.118%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDTlong	0.0000%	8h	152.86	long leg	$8K	$990K	10x
HTX SPCX-USDT	0.0000%	8h	152.63	−0.150%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0025%	1h	152.54	−0.208%	$7K	$10K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.58	−0.183%	$2.4M	$7.7M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+2.872%	$9K	$27K	5.5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.64	−0.144%	—	$1.1M	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps SPCX-USD	+0.0050%	1h	152.58	−0.183%	$489K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.64	−0.144%	$1.7M	$79K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.64	−0.144%	$541K	$404K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.49	−0.242%	$3.2M	$2.6M	10x	as long as short
QFEX SPCX-USD	+0.0057%	1h	152.65	−0.137%	$1.2M	$7.6M	10x	as long as short
BloFin SPCX-USDT	+0.0080%	8h	152.67	−0.124%	$1.9M	$1.4M	75x	as long as short
Lighter SPCX	+0.0080%	1h	152.60	−0.170%	$1.6M	$7.3M	20x	as long as short
Pacifica SPCX	+0.0100%	1h	152.59	−0.177%	$175K	$135K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.52	−0.222%	$13.0M	$5.2M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.53	−0.216%	$58K	$270K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.66	−0.131%	$15K	$7K	10x	as long as short
Paradex SPCX-USD-PERP	+0.0103%	8h	152.65	−0.138%	$101	—	5x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.67	−0.123%	$89	—	10x	as long as short
Bybit SPCXUSDT	+0.0146%	8h	152.67	−0.124%	$30.7M	$42.3M	100x	as long as short
Variational Omni SPCX	+0.0169%	8h	152.64	−0.144%	$6.1M	$4.3M	—	as long as short
OKX SPCX-USDT-SWAP	+0.0170%	8h	152.67	−0.124%	$39.0M	$168.2M	75x	as long as short
tradeXYZ xyz:SPCX	+0.0184%	1h	152.58	−0.183%	$129.9M	$107.2M	20x	as long as short
Extended SPCX-USD	+0.0200%	1h	152.64	−0.145%	$715K	$3.6M	10x	as long as short
Binance SPCXUSDT	+0.0203%	8h	152.64	−0.144%	$256.2M	$1.38B	75x	as long as short
Bullet SPCX-USD	+0.0208%	1h	152.63	−0.149%	$12K	$191K	10x	as long as short
Deribit SPCX_USDC-PERPETUALshort	+0.0209%	1h	152.62	−0.157%	$70K	$1.1M	10x
Aster SPCXUSD1	+0.0230%	8h	152.68	−0.118%	$19.0M	$21.3M	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0232%	1h	152.16	−0.458%	$739K	$963K	10x	as long as short
Phoenix SPCX	+0.0262%	1h	152.63	−0.150%	$370K	$191K	15x	as long as short
Arcus SPCX-USD	+0.0293%	1h	152.59	−0.177%	$106K	$296K	5x	as long as short
Nado SPCX-PERP	+0.0312%	1h	152.51	−0.230%	$624K	$878K	20x	as long as short
Bitget SPCXUSDT	+0.0336%	8h	152.66	−0.131%	$31.3M	$66.4M	75x	as long as short
edgeX SPCXUSDC	+0.0425%	4h	152.65	−0.136%	$1.7M	$892K	20x	as long as short
RISEx SPCX/USDC	+0.0462%	1h	152.71	−0.101%	$383K	$540K	20x	as long as short