Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0072%/8h= +7.9% APRpaid last 24h +0.039%

Price spread now: Phoenix against Binance+0.010%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$230.231% of the position

Long on Binance Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 4 days (all we have)−0.074%−$7 · spread now +0.010%, 7d avg −0.009%

Together, before fees−0.025%−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.009%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SPCXUSDT	152.37	0.0137	pay 0.0137% / 8h	1h 15m	$251.9M	$1.36B	75x
Short	Phoenix SPCX	152.39	0.0210	get 0.0026% / 1h	15m 19s	$443K	$266K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Binance. 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 BinancebpFee PhoenixbpOrdersPrice spread, now +0.010%Rate

Funding earned: $15.22
Price spread: +0.010% → −0.009%: $1.89
Slippage, 4 orders: −$6.1
Fee Binance: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$6
Costs to cover: 0.231%
Break-even: 9.8 days

Slippage from Binance: live order book, 14 min ago; Phoenix: live order book, 27 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 Binance live order book, 14 min ago	0.33 bp	5.3 bp −$5	6.0 bp −$60	10.7 bp −$1,068	22.6 bp −$11.3K
Sell Phoenix live order book, 27 min ago	0.33 bp	6.1 bp −$6	19.7 bp −$197	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 −0.0187% / S +0.0435%	1h	152.28	−0.059%	$90K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.34	−0.023%	$96.1M	$31.9M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.38	+0.003%	$31.2M	$66.1M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+13.226%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.38	+0.003%	$300K	$2.7M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.71	+0.220%	$8K	$896K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.43	+0.036%	$1.3M	$1.8M	75x	as long as short
Bybit SPCXUSDT	+0.0007%	8h	152.36	−0.010%	$30.6M	$42.7M	100x	as long as short
BloFin SPCX-USDT	+0.0014%	8h	152.41	+0.023%	$1.9M	$1.2M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0028%	1h	152.34	−0.021%	$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	152.29	−0.056%	$2.5M	$7.3M	20x	as long as short
QFEX SPCX-USD	+0.0038%	1h	152.36	−0.010%	$1.2M	$5.5M	10x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.31	−0.043%	$103K	$300K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.29	−0.056%	—	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.33	−0.030%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.36	−0.010%	$530K	$379K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.23	−0.095%	$3.2M	$2.2M	10x	as long as short
RISEx SPCX/USDC	+0.0072%	1h	152.41	+0.024%	$392K	$505K	20x	as long as short
Pacifica SPCX	+0.0100%	1h	152.29	−0.056%	$168K	$120K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.24	−0.089%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.29	−0.056%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.39	+0.010%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.36	−0.007%	$88	—	10x	as long as short
tradeXYZ xyz:SPCX	+0.0120%	1h	152.29	−0.056%	$130.1M	$129.1M	20x	as long as short
Variational Omni SPCX	+0.0122%	8h	152.35	−0.017%	$5.9M	$2.8M	—	as long as short
Paradex SPCX-USD-PERP	+0.0129%	8h	152.37	−0.001%	$101	—	5x	as long as short
Extended SPCX-USD	+0.0136%	1h	152.33	−0.033%	$725K	$3.6M	10x	as long as short
Binance SPCXUSDTlong	+0.0137%	8h	152.37	long leg	$251.9M	$1.36B	75x
Polymarket Perps SPCX-USD	+0.0142%	1h	152.34	−0.023%	$487K	$1.2M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0144%	8h	152.37	−0.003%	$39.5M	$166.6M	75x	as long as short
Lighter SPCX	+0.0152%	1h	152.31	−0.043%	$1.6M	$7.4M	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0192%	1h	152.36	−0.010%	$732K	$938K	10x	as long as short
Phoenix SPCXshort	+0.0210%	1h	152.39	+0.010%	$443K	$266K	15x
Nado SPCX-PERP	+0.0267%	1h	152.23	−0.092%	$626K	$807K	20x	as long as short
edgeX SPCXUSDC	+0.0297%	4h	152.39	+0.007%	$1.7M	$893K	20x	as long as short
Bullet SPCX-USD	+0.0303%	1h	152.37	−0.003%	$11K	$191K	10x	as long as short
Aster SPCXUSD1	+0.0401%	8h	152.49	+0.073%	$18.9M	$29.6M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.81	+0.286%	$9K	$28K	5.5x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0670%	1h	152.33	−0.030%	$90K	$1.3M	10x	as long as short