Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0105%/8h= −11.5% APRpaid last 24h −0.009%

Price spread now: Lighter RH against Variational Omni−0.011%7-day average −0.059% · you buy dearer than you sell

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

Long on Variational Omni Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.014%+$1 on $10k

Price spread, last 7 days−0.051%−$5 · spread now −0.011%, 7d avg −0.059%

Together, before fees−0.036%+ Points / potential airdropVariational Omni: Active · Lighter RH: Points live · farm board−$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter RH is 0.048% dearer against Variational Omni than usual: you sell high and buy low (spread −0.011% now, against its 7-day average of −0.059%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 37 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SPCX	153.05	0.0137	pay 0.0137% / 8h	4h 21m	$6.0M	$3.0M	—
Short	Lighter RH SPCX	153.03	0.0032	get 0.0004% / 1h	21m 43s	$2.5M	$7.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$21.96
Price spread: −0.011% → −0.059%: $4.81
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$17.15
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Lighter RH: live order book, 2 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, 2 min ago	2.35 bp	doesn't fit	3.5 bp −$35	doesn't fit	doesn't fit
Sell Lighter RH live order book, 2 min ago	1.63 bp	1.7 bp −$2	3.3 bp −$33	33.9 bp −$3,389	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 −0.0253% / S +0.0486%	1h	153.06	+0.012%	$91K	—	20x	as long as short
Bybit SPCXUSDT	0.0000%	8h	153.11	+0.041%	$30.8M	$42.9M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.09	+0.028%	$96.3M	$31.3M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	153.15	+0.068%	$31.7M	$65.3M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.726%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	153.02	−0.017%	$302K	$2.9M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.35	+0.198%	$8K	$938K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.14	+0.061%	$1.3M	$1.7M	75x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0011%	1h	153.05	+0.002%	$77K	$1.2M	10x	as long as short
Aftermath Perps SPCXUSD	+0.0022%	1h	153.02	−0.017%	$8K	$8K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin SPCX-USDT	+0.0030%	8h	153.09	+0.028%	$1.9M	$1.3M	75x	as long as short
Lighter SPCX	+0.0032%	1h	153.06	+0.009%	$1.6M	$7.3M	20x	as long as short
Lighter RH SPCXshort	+0.0032%	1h	153.03	−0.011%	$2.5M	$7.3M	20x
Arcus SPCX-USD	+0.0040%	1h	153.02	−0.017%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.09	+0.028%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0046%	1h	153.05	+0.002%	$1.2M	$6.0M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	153.06	+0.009%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.07	+0.015%	$1.7M	$97K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	153.11	+0.041%	$533K	$393K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.98	−0.044%	$3.2M	$2.5M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0062%	8h	153.11	+0.039%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	153.00	−0.031%	$169K	$130K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	153.05	+0.002%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.01	−0.024%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.10	+0.035%	$15K	$7K	10x	as long as short
Bullet SPCX-USD	+0.0104%	1h	153.11	+0.042%	$11K	$191K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.10	+0.034%	$89	—	10x	as long as short
tradeXYZ xyz:SPCX	+0.0104%	1h	153.06	+0.009%	$141.4M	$119.0M	20x	as long as short
Nado SPCX-PERP	+0.0132%	1h	153.03	−0.013%	$617K	$822K	20x	as long as short
Variational Omni SPCXlong	+0.0137%	8h	153.05	long leg	$6.0M	$3.0M	—
OKX SPCX-USDT-SWAP	+0.0148%	8h	153.13	+0.054%	$39.5M	$166.9M	75x	as long as short
Binance SPCXUSDT	+0.0149%	8h	153.11	+0.041%	$251.1M	$1.37B	75x	as long as short
Extended SPCX-USD	+0.0152%	1h	153.07	+0.016%	$734K	$3.8M	10x	as long as short
RISEx SPCX/USDC	+0.0191%	1h	153.13	+0.051%	$410K	$530K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	153.04	−0.004%	$738K	$925K	10x	as long as short
Phoenix SPCX	+0.0261%	1h	153.07	+0.015%	$445K	$268K	15x	as long as short
Aster SPCXUSD1	+0.0409%	8h	153.17	+0.081%	$19.0M	$21.1M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.50	+0.296%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0532%	4h	153.05	+0.001%	$1.7M	$892K	20x	as long as short