Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.014%

Price spread now: Bybit against ApeX Omni+0.171%7-day average −0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$400.402% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.175%−$18 on $10k

Price spread, last 4 days (all we have)−0.722%−$72 · spread now +0.171%, 7d avg −0.014%

Together, before fees−0.897%−$90 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.185% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.171% now, against its 7-day average of −0.014%): +$19 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni SPCXUSDT	152.05	0.0100	pay 0.0013% / 1h	21m 18s	$58K	$271K	50x
Short	Bybit SPCXUSDT	152.31	0	get 0.0000% / 8h	7h 21m	$30.4M	$43.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against ApeX 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 ApeX OmnibpFee BybitbpOrdersPrice spread, now +0.171%Rate

Funding earned: −$21
Price spread: +0.171% → −0.014%: $18.5
Slippage, 4 orders: −$19.19
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$42.69
Costs to cover: 0.402%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 11 min ago; Bybit: live order book, 3 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 ApeX Omni live order book, 11 min ago	7.56 bp	12.7 bp −$13	39.4 bp −$394	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.99 bp	7.6 bp −$8	10.5 bp −$105	31.0 bp −$3,100	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 −0.0187% / S +0.0435%	1h	152.21	+0.102%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0016%	8h	152.27	+0.145%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDTshort	0.0000%	8h	152.31	+0.171%	$30.4M	$43.3M	100x
Gate SPCX_USDT	0.0000%	8h	152.23	+0.118%	$96.2M	$32.4M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.34	+0.191%	$31.0M	$66.5M	75x	as long as short
StandX SPCX-USD	0.0000%	1h	152.30	+0.164%	$300K	$2.6M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.29	+0.158%	$8K	$848K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.35	+0.197%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0020%	1h	152.07	+0.015%	$7K	$7K	10x	as long as short
edgeX SPCXUSDC	+0.0029%	4h	152.16	+0.071%	$1.7M	$890K	20x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SPCX	+0.0032%	1h	152.24	+0.125%	$1.6M	$7.4M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.21	+0.105%	$2.5M	$7.3M	20x	as long as short
QFEX SPCX-USD	+0.0035%	1h	152.23	+0.118%	$1.2M	$5.4M	10x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.23	+0.118%	$102K	$293K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.25	+0.132%	—	$1.2M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.18	+0.085%	$129.7M	$129.7M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.18	+0.085%	$488K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.26	+0.138%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.23	+0.118%	$530K	$364K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.10	+0.033%	$3.1M	$2.2M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0061%	8h	152.30	+0.167%	$101	—	5x	as long as short
Variational Omni SPCX	+0.0077%	8h	151.99	−0.043%	$5.9M	$2.8M	—	as long as short
Pacifica SPCX	+0.0100%	1h	152.17	+0.079%	$168K	$117K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.17	+0.079%	$13.0M	$5.7M	20x	as long as short
ApeX Omni SPCXUSDTlong	+0.0100%	1h	152.05	long leg	$58K	$271K	50x
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.30	+0.164%	$14K	$7K	10x	as long as short
Binance SPCXUSDT	+0.0104%	8h	152.30	+0.165%	$253.9M	$1.37B	75x	as long as short
Extended SPCX-USD	+0.0104%	1h	152.26	+0.141%	$725K	$5.3M	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.25	+0.133%	$88	—	10x	as long as short
Nado SPCX-PERP	+0.0111%	1h	152.19	+0.091%	$635K	$812K	20x	as long as short
OKX SPCX-USDT-SWAP	+0.0115%	8h	152.33	+0.184%	$39.2M	$167.9M	75x	as long as short
Bullet SPCX-USD	+0.0134%	1h	152.29	+0.155%	$10K	$192K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0144%	1h	152.25	+0.132%	$84K	$1.4M	10x	as long as short
RISEx SPCX/USDC	+0.0190%	1h	152.27	+0.148%	$381K	$507K	20x	as long as short
Phoenix SPCX	+0.0210%	1h	152.00	−0.033%	$446K	$268K	15x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0280%	1h	152.03	−0.013%	$693K	$997K	10x	as long as short
Aster SPCXUSD1	+0.0387%	8h	152.41	+0.236%	$18.9M	$30.7M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.51	+0.303%	$9K	$28K	5.5x	as long as short