Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0266%/8h= +29.2% APRpaid last 24h +0.014%

Price spread now: Nado against Bitget−0.097%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$310.311% of the position

Long on Bitget Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.044%+$4 on $10k

Price spread, last 7 days+0.134%+$13 · spread now −0.097%, 7d avg −0.025%

Together, before fees+0.178%+ Points / potential airdropNado: Active · farm board+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.072% cheaper against Bitget than usual: you would sell low and buy high (spread −0.097% now, against its 7-day average of −0.025%). If the spread goes back, that is −$7 on $10k: about 22 hours of funding at the current rate (+$8 a day). At the pace of the last 3 days (+0.044% in total) that is about 5.7 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.044% in total (about 4.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SPCXUSDT	152.38	0	get 0.0000% / 8h	1h 15m	$31.2M	$66.1M	75x
Short	Nado SPCX-PERP	152.23	0.0266	get 0.0033% / 1h	15m 51s	$626K	$807K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Bitget. 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 BitgetbpFee NadobpOrdersPrice spread, now −0.097%Rate

Funding earned: $55.96
Price spread: −0.097% → −0.025%: −$7.21
Slippage, 4 orders: −$12.12
Fee Bitget: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $17.64
Costs to cover: 0.311%
Break-even: 4.8 days

Slippage from Bitget: live order book, 3 min ago; Nado: 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 Bitget live order book, 3 min ago	0.66 bp	6.8 bp −$7	8.0 bp −$80	27.2 bp −$2,719	41.5 bp −$20.7K
Sell Nado live order book, 27 min ago	0.33 bp	8.0 bp −$8	23.1 bp −$231	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	152.29	−0.056%	$90K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.34	−0.026%	$96.1M	$31.9M	100x	as long as short
Bitget SPCXUSDTlong	0.0000%	8h	152.38	long leg	$31.2M	$66.1M	75x
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+13.222%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.38	0.000%	$300K	$2.7M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.71	+0.217%	$8K	$896K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.43	+0.033%	$1.3M	$1.8M	75x	as long as short
Bybit SPCXUSDT	+0.0006%	8h	152.36	−0.013%	$30.6M	$42.7M	100x	as long as short
BloFin SPCX-USDT	+0.0014%	8h	152.41	+0.020%	$1.9M	$1.2M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0027%	1h	152.34	−0.025%	$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	−0.059%	$2.5M	$7.3M	20x	as long as short
QFEX SPCX-USD	+0.0038%	1h	152.35	−0.020%	$1.2M	$5.5M	10x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.32	−0.039%	$103K	$300K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.29	−0.059%	—	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.33	−0.033%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.36	−0.013%	$530K	$379K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.23	−0.098%	$3.2M	$2.2M	10x	as long as short
RISEx SPCX/USDC	+0.0072%	1h	152.40	+0.012%	$392K	$505K	20x	as long as short
Pacifica SPCX	+0.0100%	1h	152.29	−0.059%	$168K	$120K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.25	−0.085%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.37	−0.007%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.39	+0.007%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.37	−0.005%	$88	—	10x	as long as short
Variational Omni SPCX	+0.0112%	8h	152.42	+0.025%	$5.9M	$2.8M	—	as long as short
tradeXYZ xyz:SPCX	+0.0119%	1h	152.29	−0.059%	$130.1M	$129.1M	20x	as long as short
Paradex SPCX-USD-PERP	+0.0127%	8h	152.37	−0.005%	$101	—	5x	as long as short
Binance SPCXUSDT	+0.0135%	8h	152.38	0.000%	$251.9M	$1.36B	75x	as long as short
Extended SPCX-USD	+0.0136%	1h	152.34	−0.029%	$725K	$3.6M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0141%	1h	152.33	−0.033%	$487K	$1.2M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0144%	8h	152.37	−0.007%	$39.5M	$166.6M	75x	as long as short
Lighter SPCX	+0.0152%	1h	152.31	−0.046%	$1.6M	$7.4M	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0192%	1h	152.36	−0.013%	$732K	$938K	10x	as long as short
Phoenix SPCX	+0.0210%	1h	152.39	+0.007%	$443K	$266K	15x	as long as short
Nado SPCX-PERPshort	+0.0266%	1h	152.23	−0.097%	$626K	$807K	20x
Bullet SPCX-USD	+0.0303%	1h	152.37	−0.007%	$11K	$191K	10x	as long as short
Aster SPCXUSD1	+0.0401%	8h	152.49	+0.075%	$18.9M	$29.7M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.81	+0.282%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0608%	4h	152.38	−0.001%	$1.7M	$892K	20x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0670%	1h	152.33	−0.033%	$90K	$1.3M	10x	as long as short