Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: Phemex against ApeX Omni+0.020%77s7-day average −0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$580.583% of the position

Long on ApeX Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.254%−$25 on $10k

Price spread, last 3 days (all we have)−0.111%−$11 · spread now +0.020%, 7d avg −0.064%

Together, before fees−0.365%−$37 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.084% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.020% now, against its 7-day average of −0.064%): +$8 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.6 days. At the pace of the last 7 days (−0.254% in total) that is about 2.3 days. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni SPCXUSDT	153.01	0.0100	pay 0.0013% / 1h	22m 03s	$58K	$271K	50x
Short	Phemex SPCXUSDT	153.04	0.0050	get 0.0050% / 8h	7h 22m	$534K	$408K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$10.5
Price spread: +0.020% → −0.064%: $8.37
Slippage, 4 orders: −$36.32
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$60.45
Costs to cover: 0.583%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 50 min ago; Phemex: live order book, 50 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, 50 min ago	10.14 bp	15.1 bp −$15	42.1 bp −$421	doesn't fit	doesn't fit
Sell Phemex live order book, 50 min ago	0.65 bp	13.3 bp −$13	doesn't fit	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 −0.0317% / S +0.0520%	1h	153.01	+0.003%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.03	+0.013%	$96.4M	$31.3M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.750%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.93	−0.052%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.29	+0.183%	$8K	$956K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.09	+0.052%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0028%	1h	153.01	0.000%	$8K	$8K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.99	−0.013%	$2.5M	$7.4M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+2.771%	$9K	$27K	5.5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.05	+0.026%	—	$1.2M	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SPCX	+0.0048%	1h	153.00	−0.007%	$1.6M	$7.4M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	153.02	+0.007%	$489K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.03	+0.013%	$1.7M	$86K	20x	as long as short
Phemex SPCXUSDTshort	+0.0050%	8h	153.04	+0.020%	$534K	$408K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.94	−0.046%	$3.2M	$2.6M	10x	as long as short
QFEX SPCX-USD	+0.0063%	1h	153.03	+0.013%	$1.2M	$7.3M	10x	as long as short
edgeX SPCXUSDC	+0.0075%	4h	153.07	+0.037%	$1.7M	$892K	20x	as long as short
Paradex SPCX-USD-PERP	+0.0097%	8h	153.06	+0.031%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.93	−0.052%	$173K	$129K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.95	−0.039%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDTlong	+0.0100%	1h	153.01	long leg	$58K	$271K	50x
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.06	+0.033%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.06	+0.030%	$89	—	10x	as long as short
BloFin SPCX-USDT	+0.0113%	8h	153.05	+0.026%	$1.9M	$1.4M	75x	as long as short
Bybit SPCXUSDT	+0.0150%	8h	153.08	+0.046%	$30.9M	$42.8M	100x	as long as short
Arcus SPCX-USD	+0.0194%	1h	153.00	−0.007%	$105K	$297K	5x	as long as short
OKX SPCX-USDT-SWAP	+0.0212%	8h	153.07	+0.039%	$39.2M	$169.1M	75x	as long as short
Variational Omni SPCX	+0.0216%	8h	153.07	+0.039%	$6.0M	$3.5M	—	as long as short
Nado SPCX-PERP	+0.0230%	1h	152.94	−0.043%	$620K	$857K	20x	as long as short
tradeXYZ xyz:SPCX	+0.0231%	1h	153.01	0.000%	$143.1M	$119.3M	20x	as long as short
Extended SPCX-USD	+0.0232%	1h	153.02	+0.006%	$734K	$4.0M	10x	as long as short
Binance SPCXUSDT	+0.0234%	8h	153.06	+0.033%	$253.1M	$1.38B	75x	as long as short
Bullet SPCX-USD	+0.0237%	1h	153.07	+0.037%	$11K	$189K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0273%	1h	153.01	0.000%	$72K	$1.1M	10x	as long as short
Bitget SPCXUSDT	+0.0313%	8h	153.09	+0.052%	$31.3M	$66.4M	75x	as long as short
Phoenix SPCX	+0.0314%	1h	153.09	+0.052%	$445K	$271K	15x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0328%	1h	153.01	0.000%	$731K	$977K	10x	as long as short
Aster SPCXUSD1	+0.0367%	8h	153.10	+0.057%	$19.0M	$18.3M	20x	as long as short
RISEx SPCX/USDC	+0.0409%	1h	153.08	+0.043%	$401K	$535K	20x	as long as short