Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0199%/8h= −21.8% APRpaid last 24h −0.031%

Price spread now: BloFin against tradeXYZ+0.026%108s7-day average +0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$340.337% of the position

Long on tradeXYZ Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.173%−$17 on $10k

Price spread, last 3 days (all we have)−0.026%−$3 · spread now +0.026%, 7d avg +0.064%

Together, before fees−0.199%+ Points / potential airdroptradeXYZ: Active · farm board−$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and BloFin is 0.038% cheaper against tradeXYZ than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.064%). Swap the legs. The two prices were read 108 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:SPCX	153.07	0.0291	pay 0.0036% / 1h	47m 26s	$143.4M	$119.2M	20x
Short	BloFin SPCX-USDT	153.11	0.0092	get 0.0092% / 8h	7h 47m	$1.9M	$1.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against tradeXYZ. 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 tradeXYZbpFee BloFinbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$41.76
Price spread: +0.026% → +0.064%: −$3.77
Slippage, 4 orders: −$3.75
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$79.28
Costs to cover: 0.337%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 12 min ago; BloFin: live order book, 5 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 tradeXYZ live order book, 12 min ago	0.33 bp	10.5 bp −$10	12.5 bp −$125	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	0.98 bp	7.0 bp −$7	7.0 bp −$70	9.7 bp −$972	18.2 bp −$9,100

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 −0.0297% / S +0.0506%	1h	153.09	+0.010%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.09	+0.013%	$96.6M	$31.1M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.706%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.94	−0.085%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.35	+0.183%	$8K	$962K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.08	+0.007%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0026%	1h	152.98	−0.061%	$8K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	153.06	−0.007%	$1.6M	$7.4M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	153.03	−0.026%	$2.5M	$7.4M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+2.731%	$9K	$27K	5.5x	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	153.09	+0.013%	—	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.08	+0.007%	$1.7M	$81K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	153.09	+0.013%	$534K	$415K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.89	−0.118%	$3.2M	$2.6M	10x	as long as short
QFEX SPCX-USD	+0.0063%	1h	153.09	+0.013%	$1.2M	$7.6M	10x	as long as short
BloFin SPCX-USDTshort	+0.0092%	8h	153.11	+0.026%	$1.9M	$1.4M	75x
Pacifica SPCX	+0.0100%	1h	153.02	−0.033%	$173K	$129K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.97	−0.065%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.14	+0.046%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.10	+0.020%	$15K	$7K	10x	as long as short
Paradex SPCX-USD-PERP	+0.0101%	8h	153.12	+0.033%	$101	—	5x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.07	+0.003%	$89	—	10x	as long as short
Polymarket Perps SPCX-USD	+0.0109%	1h	153.08	+0.007%	$490K	$1.1M	10x	as long as short
Bybit SPCXUSDT	+0.0173%	8h	153.15	+0.052%	$30.8M	$42.8M	100x	as long as short
Nado SPCX-PERP	+0.0185%	1h	153.00	−0.045%	$602K	$865K	20x	as long as short
Arcus SPCX-USD	+0.0194%	1h	153.02	−0.033%	$105K	$297K	5x	as long as short
Variational Omni SPCX	+0.0194%	8h	153.06	−0.006%	$6.0M	$3.5M	—	as long as short
OKX SPCX-USDT-SWAP	+0.0203%	8h	153.16	+0.059%	$39.1M	$169.3M	75x	as long as short
Binance SPCXUSDT	+0.0214%	8h	153.13	+0.042%	$252.9M	$1.38B	75x	as long as short
Extended SPCX-USD	+0.0216%	1h	153.09	+0.014%	$732K	$3.7M	10x	as long as short
tradeXYZ xyz:SPCXlong	+0.0291%	1h	153.07	long leg	$143.4M	$119.2M	20x
Bullet SPCX-USD	+0.0312%	1h	153.14	+0.046%	$11K	$187K	10x	as long as short
Phoenix SPCX	+0.0314%	1h	153.06	−0.007%	$445K	$271K	15x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0328%	1h	153.14	+0.046%	$734K	$971K	10x	as long as short
Aster SPCXUSD1	+0.0329%	8h	153.04	−0.017%	$19.0M	$20.1M	20x	as long as short
Bitget SPCXUSDT	+0.0345%	8h	153.16	+0.059%	$31.3M	$66.6M	75x	as long as short
RISEx SPCX/USDC	+0.0409%	1h	153.13	+0.037%	$401K	$535K	20x	as long as short
edgeX SPCXUSDC	+0.0529%	4h	153.08	+0.004%	$1.7M	$893K	20x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0534%	1h	153.09	+0.013%	$71K	$1.0M	10x	as long as short