Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0204%/8h= −22.3% APRpaid last 24h +0.002%

Price spread now: Phemex against tradeXYZ+0.007%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$450.451% of the position

Long on tradeXYZ Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.007%−$1 on $10k

Price spread, last 3 days (all we have)−0.100%−$10 · spread now +0.007%, 7d avg −0.006%

Together, before fees−0.107%+ Points / potential airdroptradeXYZ: Active · farm board−$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.006%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.007% in total (about -0.4% 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	tradeXYZ xyz:SPCX	152.92	0.0254	pay 0.0032% / 1h	36m 33s	$143.5M	$118.5M	20x
Short	Phemex SPCXUSDT	152.93	0.0050	get 0.0050% / 8h	36m 33s	$538K	$406K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$42.81
Price spread: +0.007% → −0.006%: $1.21
Slippage, 4 orders: −$15.06
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$86.65
Costs to cover: 0.451%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 3 min ago; Phemex: live order book, 41 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, 3 min ago	0.33 bp	9.4 bp −$9	11.8 bp −$118	doesn't fit	doesn't fit
Sell Phemex live order book, 41 min ago	1.64 bp	12.8 bp −$13	doesn't fit	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 −0.0272% / S +0.0488%	1h	152.94	+0.010%	$89K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.94	+0.013%	$96.6M	$31.3M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.51	+12.812%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.88	−0.026%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.19	+0.177%	$8K	$971K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.98	+0.039%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0031%	1h	152.96	+0.023%	$8K	$10K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.89	−0.020%	$2.5M	$7.6M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+2.832%	$9K	$27K	5.5x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.88	−0.026%	$106K	$296K	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX SPCXUSDC	+0.0041%	4h	152.97	+0.035%	$1.7M	$892K	20x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.90	−0.013%	—	$1.2M	10x	as long as short
Lighter SPCX	+0.0048%	1h	152.90	−0.013%	$1.6M	$7.4M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.92	0.000%	$490K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.94	+0.013%	$1.7M	$79K	20x	as long as short
Phemex SPCXUSDTshort	+0.0050%	8h	152.93	+0.007%	$538K	$406K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.90	−0.013%	$3.2M	$2.7M	10x	as long as short
QFEX SPCX-USD	+0.0052%	1h	152.91	−0.007%	$1.2M	$7.6M	10x	as long as short
BloFin SPCX-USDT	+0.0073%	8h	152.95	+0.020%	$1.9M	$1.4M	75x	as long as short
Paradex SPCX-USD-PERP	+0.0079%	8h	152.93	+0.009%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.86	−0.039%	$173K	$130K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.84	−0.052%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.01	+0.059%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.98	+0.039%	$15K	$7K	10x	as long as short
Bullet SPCX-USD	+0.0101%	1h	152.95	+0.020%	$11K	$188K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.98	+0.036%	$89	—	10x	as long as short
Bybit SPCXUSDT	+0.0142%	8h	152.97	+0.033%	$30.8M	$42.7M	100x	as long as short
Variational Omni SPCX	+0.0177%	8h	152.96	+0.023%	$6.0M	$3.5M	—	as long as short
OKX SPCX-USDT-SWAP	+0.0189%	8h	152.96	+0.026%	$39.0M	$169.3M	75x	as long as short
Extended SPCX-USD	+0.0192%	1h	152.93	+0.005%	$734K	$3.6M	10x	as long as short
Binance SPCXUSDT	+0.0192%	8h	152.95	+0.022%	$253.8M	$1.38B	75x	as long as short
tradeXYZ xyz:SPCXlong	+0.0254%	1h	152.92	long leg	$143.5M	$118.5M	20x
Phoenix SPCX	+0.0261%	1h	152.96	+0.026%	$446K	$269K	15x	as long as short
Aster SPCXUSD1	+0.0279%	8h	153.03	+0.072%	$19.0M	$21.3M	20x	as long as short
Nado SPCX-PERP	+0.0279%	1h	152.83	−0.058%	$602K	$884K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0280%	1h	152.97	+0.033%	$733K	$970K	10x	as long as short
Bitget SPCXUSDT	+0.0306%	8h	152.97	+0.033%	$31.2M	$67.2M	75x	as long as short
RISEx SPCX/USDC	+0.0339%	1h	153.02	+0.065%	$403K	$538K	20x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0404%	1h	152.93	+0.007%	$71K	$1.0M	10x	as long as short