Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0107%/8h= +11.7% APRpaid last 24h +0.027%

Price spread now: Phoenix against Variational Omni0.000%7-day average +0.001% · you sell dearer than you buy

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

Long on Variational Omni Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.063%+$6 on $10k

Price spread, last 4 days (all we have)+0.227%+$23 · spread now 0.000%, 7d avg +0.001%

Together, before fees+0.289%+ Points / potential airdropVariational Omni: Active · farm board+$29 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.001%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SPCX	153.07	0.0207	pay 0.0207% / 8h	6h 25m	$6.0M	$3.3M	—
Short	Phoenix SPCX	153.07	0.0314	get 0.0039% / 1h	25m 01s	$445K	$270K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now 0.000%Rate

Funding earned: $22.49
Price spread: 0.000% → +0.001%: −$0.07
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $15.42
Costs to cover: 0.070%
Break-even: 2.2 days

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Phoenix: live order book, 42 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, 4 min ago	2.35 bp	doesn't fit	3.5 bp −$35	doesn't fit	doesn't fit
Sell Phoenix live order book, 42 min ago	0.33 bp	5.5 bp −$6	17.1 bp −$171	doesn't fit	doesn't fit

SPCX on 38 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 −0.0342% / S +0.0538%	1h	153.04	−0.016%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.05	−0.013%	$96.1M	$31.3M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.710%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.96	−0.072%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.29	+0.144%	$8K	$946K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.09	+0.013%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0025%	1h	152.97	−0.063%	$8K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	153.00	−0.046%	$1.6M	$7.2M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.96	−0.072%	$2.5M	$7.3M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	153.32	+0.163%	$9K	$27K	5.5x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus SPCX-USD	+0.0040%	1h	152.99	−0.052%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.02	−0.032%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0049%	1h	153.03	−0.026%	$1.2M	$6.8M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	153.01	−0.039%	$501K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.05	−0.013%	$1.7M	$90K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	153.05	−0.013%	$534K	$405K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.91	−0.104%	$3.2M	$2.6M	10x	as long as short
Bybit SPCXUSDT	+0.0079%	8h	153.08	+0.007%	$30.8M	$43.0M	100x	as long as short
Paradex SPCX-USD-PERP	+0.0084%	8h	153.09	+0.011%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.94	−0.085%	$169K	$133K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.96	−0.072%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.93	−0.091%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.06	−0.006%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.05	−0.010%	$89	—	10x	as long as short
Bitget SPCXUSDT	+0.0153%	8h	153.11	+0.026%	$31.9M	$66.3M	75x	as long as short
Bullet SPCX-USD	+0.0160%	1h	153.07	0.000%	$11K	$189K	10x	as long as short
tradeXYZ xyz:SPCX	+0.0175%	1h	153.03	−0.026%	$142.4M	$119.2M	20x	as long as short
OKX SPCX-USDT-SWAP	+0.0195%	8h	153.10	+0.020%	$39.4M	$169.0M	75x	as long as short
Variational Omni SPCXlong	+0.0207%	8h	153.07	long leg	$6.0M	$3.3M	—
Binance SPCXUSDT	+0.0221%	8h	153.08	+0.007%	$252.9M	$1.37B	75x	as long as short
Extended SPCX-USD	+0.0224%	1h	153.04	−0.021%	$736K	$3.8M	10x	as long as short
Nado SPCX-PERP	+0.0243%	1h	152.95	−0.077%	$622K	$839K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0288%	1h	152.97	−0.065%	$738K	$983K	10x	as long as short
Phoenix SPCXshort	+0.0314%	1h	153.07	0.000%	$445K	$270K	15x
Deribit SPCX_USDC-PERPETUAL	+0.0339%	1h	153.00	−0.046%	$72K	$1.1M	10x	as long as short
Aster SPCXUSD1	+0.0401%	8h	153.12	+0.034%	$19.0M	$15.1M	20x	as long as short
RISEx SPCX/USDC	+0.0410%	1h	153.09	+0.011%	$408K	$539K	20x	as long as short
edgeX SPCXUSDC	+0.0774%	4h	153.05	−0.014%	$1.7M	$892K	20x	as long as short