Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h +0.008%

Price spread now: Bullet against Variational Omni+0.010%7-day average +0.004% · you sell dearer than you buy

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

Long on Variational Omni Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.088%+$9 on $10k

Price spread, last 4 days (all we have)−0.202%−$20 · spread now +0.010%, 7d avg +0.004%

Together, before fees−0.114%+ Points / potential airdropVariational Omni: Active · farm board−$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.004%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +0.088%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SPCX	153.01	0.0179	pay 0.0179% / 8h	5h 36m	$6.0M	$3.1M	—
Short	Bullet SPCX-USD	153.02	0.0134	get 0.0017% / 1h	36m 27s	$11K	$190K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Variational Omni. 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 Variational OmnibpFee BulletbpOrdersPrice spread, now +0.010%Rate

Funding earned: −$9.63
Price spread: +0.010% → +0.004%: $0.55
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$17.08
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Bullet: live order book, 27 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 Variational Omni RFQ quote, 3 min ago	2.35 bp	doesn't fit	3.7 bp −$37	doesn't fit	doesn't fit
Sell Bullet live order book, 27 min ago	0.65 bp	5.7 bp −$6	19.9 bp −$199	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	152.99	−0.013%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.99	−0.010%	$96.1M	$31.3M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.757%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.95	−0.036%	$302K	$3.0M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.22	+0.140%	$8K	$940K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.05	+0.029%	$1.3M	$1.7M	75x	as long as short
Bitget SPCXUSDT	+0.0004%	8h	153.06	+0.036%	$31.7M	$66.1M	75x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0012%	1h	152.97	−0.023%	$72K	$1.2M	10x	as long as short
Aftermath Perps SPCXUSD	+0.0025%	1h	152.96	−0.027%	$7K	$8K	10x	as long as short
Bybit SPCXUSDT	+0.0031%	8h	153.02	+0.010%	$30.8M	$42.8M	100x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SPCX	+0.0032%	1h	152.98	−0.016%	$1.6M	$7.2M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.96	−0.030%	$2.5M	$7.2M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.94	−0.043%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.00	−0.003%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0048%	1h	152.98	−0.016%	$1.2M	$6.6M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.97	−0.023%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.99	−0.010%	$1.7M	$93K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.99	−0.010%	$534K	$402K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.85	−0.101%	$3.2M	$2.5M	10x	as long as short
BloFin SPCX-USDT	+0.0068%	8h	153.03	+0.016%	$1.9M	$1.4M	75x	as long as short
Paradex SPCX-USD-PERP	+0.0072%	8h	153.03	+0.017%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.91	−0.062%	$169K	$129K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.94	−0.043%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.93	−0.049%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.04	+0.023%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.00	−0.003%	$89	—	10x	as long as short
Bullet SPCX-USDshort	+0.0134%	1h	153.02	+0.010%	$11K	$190K	10x
OKX SPCX-USDT-SWAP	+0.0179%	8h	153.04	+0.023%	$39.5M	$167.7M	75x	as long as short
tradeXYZ xyz:SPCX	+0.0179%	1h	152.98	−0.016%	$142.1M	$119.4M	20x	as long as short
Variational Omni SPCXlong	+0.0179%	8h	153.01	long leg	$6.0M	$3.1M	—
Binance SPCXUSDT	+0.0188%	8h	153.03	+0.016%	$252.7M	$1.37B	75x	as long as short
Nado SPCX-PERP	+0.0192%	1h	152.94	−0.041%	$622K	$831K	20x	as long as short
Extended SPCX-USD	+0.0192%	1h	152.99	−0.012%	$736K	$3.8M	10x	as long as short
RISEx SPCX/USDC	+0.0199%	1h	153.04	+0.024%	$408K	$549K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	153.01	+0.003%	$738K	$980K	10x	as long as short
Phoenix SPCX	+0.0262%	1h	153.02	+0.010%	$445K	$267K	15x	as long as short
Aster SPCXUSD1	+0.0404%	8h	153.10	+0.059%	$19.0M	$17.0M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.28	+0.180%	$9K	$27K	5.5x	as long as short
edgeX SPCXUSDC	+0.0612%	4h	153.00	−0.004%	$1.7M	$891K	20x	as long as short