Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0075%/8h= −8.2% APRpaid last 24h −0.008%

Price spread now: QFEX against Variational Omni+0.001%7-day average −0.040% · you sell dearer than you buy

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

Long on Variational Omni Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.006%−$1 on $10k

Price spread, last 7 days−0.022%−$2 · spread now +0.001%, 7d avg −0.040%

Together, before fees−0.028%+ Points / potential airdropVariational Omni: Active · farm board−$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.041% dearer against Variational Omni than usual: you sell high and buy low (spread +0.001% now, against its 7-day average of −0.040%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 44 hours. At the pace of the last 4 days (−0.006% in total) that is about 25 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SPCX	152.47	0.0125	pay 0.0125% / 8h	3h 02m	$6.0M	$2.9M	—
Short	QFEX SPCX-USD	152.47	0.0050	get 0.0006% / 1h	2m 13s	$1.2M	$5.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.001%Rate

Funding earned: −$15.67
Price spread: +0.001% → −0.040%: $4.08
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$21.58
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; QFEX: live order book, 7 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	2.33 bp	doesn't fit	4.0 bp −$40	doesn't fit	doesn't fit
Sell QFEX live order book, 7 min ago	1.31 bp	6.3 bp −$6	7.0 bp −$70	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 −0.0224% / S +0.0463%	1h	152.40	−0.048%	$90K	—	20x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.48	+0.008%	$30.6M	$42.7M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.48	+0.008%	$96.2M	$31.7M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.52	+0.034%	$31.4M	$65.9M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+13.157%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.55	+0.054%	$300K	$2.9M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.70	+0.152%	$8K	$916K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.57	+0.067%	$1.3M	$1.8M	75x	as long as short
BloFin SPCX-USDT	+0.0013%	8h	152.55	+0.054%	$1.9M	$1.3M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0028%	1h	152.39	−0.051%	$7K	$8K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SPCX	+0.0032%	1h	152.36	−0.071%	$2.5M	$7.4M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.41	−0.038%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.50	+0.021%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.47	+0.001%	$490K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.44	−0.019%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.46	−0.005%	$532K	$388K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.33	−0.091%	$3.2M	$2.3M	10x	as long as short
QFEX SPCX-USDshort	+0.0050%	1h	152.47	+0.001%	$1.2M	$5.6M	10x
Paradex SPCX-USD-PERP	+0.0055%	8h	152.52	+0.035%	$101	—	5x	as long as short
Lighter SPCX	+0.0056%	1h	152.40	−0.045%	$1.6M	$7.5M	20x	as long as short
tradeXYZ xyz:SPCX	+0.0057%	1h	152.40	−0.045%	$131.0M	$128.4M	20x	as long as short
Pacifica SPCX	+0.0100%	1h	152.39	−0.051%	$169K	$120K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.37	−0.064%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.45	−0.012%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.52	+0.034%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.49	+0.012%	$88	—	10x	as long as short
Variational Omni SPCXlong	+0.0125%	8h	152.47	long leg	$6.0M	$2.9M	—
Binance SPCXUSDT	+0.0133%	8h	152.46	−0.005%	$250.5M	$1.36B	75x	as long as short
Extended SPCX-USD	+0.0136%	1h	152.47	+0.001%	$731K	$4.6M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0140%	8h	152.52	+0.034%	$39.4M	$166.3M	75x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0144%	1h	152.47	+0.001%	$87K	$1.2M	10x	as long as short
Nado SPCX-PERP	+0.0185%	1h	152.43	−0.025%	$613K	$802K	20x	as long as short
Bullet SPCX-USD	+0.0191%	1h	152.51	+0.027%	$11K	$192K	10x	as long as short
RISEx SPCX/USDC	+0.0217%	1h	152.55	+0.052%	$408K	$522K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0248%	1h	152.44	−0.019%	$739K	$931K	10x	as long as short
Phoenix SPCX	+0.0261%	1h	152.42	−0.032%	$443K	$264K	15x	as long as short
Aster SPCXUSD1	+0.0403%	8h	152.57	+0.067%	$18.9M	$24.0M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.19	+0.473%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0883%	4h	152.48	+0.010%	$1.7M	$893K	20x	as long as short