Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0114%/8h= −12.4% APRpaid last 24h −0.029%

Price spread now: Gate against Bullet−0.020%7-day average −0.045% · 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−$28as in the Price arb table

costs, in and out, $10k−$300.305% of the position

Long on Bullet Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.109%−$11 on $10k

Price spread, last 4 days (all we have)−0.305%−$30 · spread now −0.020%, 7d avg −0.045%

Together, before fees−0.414%−$41 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.026% dearer against Bullet than usual: you sell high and buy low (spread −0.020% now, against its 7-day average of −0.045%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet SPCX-USD	153.11	0.0114	pay 0.0014% / 1h	14m 14s	$12K	$191K	10x
Short	Gate SPCX_USDT	153.08	0	get 0.0000% / 8h	4h 14m	$96.3M	$31.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bullet. 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 BulletbpFee GatebpOrdersPrice spread, now −0.020%Rate

Funding earned: −$23.84
Price spread: −0.020% → −0.045%: $2.57
Slippage, 4 orders: −$7.46
Fee Bullet: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$51.73
Costs to cover: 0.305%
Break-even: never at this rate

Slippage from Bullet: live order book, 45 min ago; Gate: live order book, 5 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 Bullet live order book, 45 min ago	0.65 bp	5.7 bp −$6	20.2 bp −$202	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	0.33 bp	8.8 bp −$9	14.8 bp −$148	29.9 bp −$2,993	48.8 bp −$24.4K

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 −0.0253% / S +0.0486%	1h	153.04	−0.042%	$91K	—	20x	as long as short
Bybit SPCXUSDT	0.0000%	8h	153.10	−0.007%	$30.8M	$42.9M	100x	as long as short
Gate SPCX_USDTshort	0.0000%	8h	153.08	−0.020%	$96.3M	$31.3M	100x
Bitget SPCXUSDT	0.0000%	8h	153.12	+0.007%	$31.7M	$65.3M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.681%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	153.01	−0.065%	$302K	$2.9M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.36	+0.163%	$7K	$940K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.15	+0.026%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0022%	1h	153.04	−0.047%	$8K	$8K	10x	as long as short
BloFin SPCX-USDT	+0.0025%	8h	153.13	+0.013%	$1.9M	$1.4M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SPCX	+0.0032%	1h	153.03	−0.052%	$1.6M	$7.4M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	153.00	−0.072%	$2.5M	$7.3M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	153.01	−0.065%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.07	−0.026%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0046%	1h	153.05	−0.039%	$1.2M	$6.0M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	153.03	−0.052%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.06	−0.033%	$1.7M	$95K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	153.11	0.000%	$533K	$392K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.91	−0.131%	$3.2M	$2.5M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0060%	8h	153.10	−0.006%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.99	−0.078%	$169K	$130K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	153.01	−0.065%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.12	+0.007%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.08	−0.020%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.06	−0.030%	$89	—	10x	as long as short
tradeXYZ xyz:SPCX	+0.0108%	1h	153.04	−0.046%	$141.4M	$119.0M	20x	as long as short
Bullet SPCX-USDlong	+0.0114%	1h	153.11	long leg	$12K	$191K	10x
Variational Omni SPCX	+0.0130%	8h	153.08	−0.021%	$6.0M	$3.0M	—	as long as short
Nado SPCX-PERP	+0.0133%	1h	152.99	−0.079%	$617K	$819K	20x	as long as short
Extended SPCX-USD	+0.0144%	1h	153.06	−0.033%	$734K	$3.8M	10x	as long as short
Binance SPCXUSDT	+0.0144%	8h	153.11	0.000%	$251.1M	$1.37B	75x	as long as short
OKX SPCX-USDT-SWAP	+0.0146%	8h	153.13	+0.013%	$39.5M	$166.8M	75x	as long as short
RISEx SPCX/USDC	+0.0191%	1h	153.11	−0.002%	$410K	$530K	20x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0208%	1h	153.04	−0.046%	$78K	$1.2M	10x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	153.10	−0.007%	$738K	$926K	10x	as long as short
Phoenix SPCX	+0.0261%	1h	153.09	−0.013%	$445K	$268K	15x	as long as short
Aster SPCXUSD1	+0.0406%	8h	153.16	+0.035%	$18.9M	$21.2M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.50	+0.255%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0649%	4h	153.07	−0.025%	$1.7M	$893K	20x	as long as short