Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0015%/8h= −1.7% APRpaid last 24h −0.007%

Price spread now: OKX against Bullet+0.007%7-day average −0.014% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$250.248% of the position

Long on Bullet Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.088%−$9 on $10k

Price spread, last 4 days (all we have)−0.337%−$34 · spread now +0.007%, 7d avg −0.014%

Together, before fees−0.425%−$43 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.021% dearer against Bullet than usual: you sell high and buy low (spread +0.007% now, against its 7-day average of −0.014%): +$2 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 4.5 days. At the pace of the last 4 days (−0.088% in total) that is about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet SPCX-USD	152.67	0.0106	pay 0.0013% / 1h	7m 57s	$12K	$191K	10x
Short	OKX SPCX-USDT-SWAP	152.68	0.0091	get 0.0091% / 8h	6h 07m	$39.4M	$168.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$3.17
Price spread: +0.007% → −0.014%: $2.06
Slippage, 4 orders: −$6.79
Fee Bullet: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$25.9
Costs to cover: 0.248%
Break-even: never at this rate

Slippage from Bullet: live order book, 44 min ago; OKX: live order book, 4 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, 44 min ago	0.65 bp	8.2 bp −$8	21.3 bp −$213	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.33 bp	5.3 bp −$5	6.6 bp −$66	13.8 bp −$1,375	doesn't fit

SPCX on 38 exchanges

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	152.57	−0.062%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0060%	8h	152.66	−0.007%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.68	+0.007%	$30.3M	$43.4M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.63	−0.026%	$96.2M	$32.6M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.71	+0.026%	$31.0M	$66.9M	75x	as long as short
StandX SPCX-USD	0.0000%	1h	152.67	0.000%	$306K	$2.6M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.94	+0.177%	$8K	$825K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	0.0000%	1h	152.59	−0.052%	$49K	$1.4M	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.74	+0.046%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0020%	1h	152.56	−0.069%	$7K	$7K	10x	as long as short

Show all 38 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SPCX	+0.0030%	8h	152.58	−0.059%	$5.9M	$2.7M	—	as long as short
QFEX SPCX-USD	+0.0031%	1h	152.61	−0.039%	$1.2M	$5.4M	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.60	−0.046%	$1.6M	$7.4M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.57	−0.066%	$2.5M	$7.3M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.58	−0.059%	$103K	$295K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.63	−0.026%	—	$1.3M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.55	−0.079%	$128.8M	$129.2M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.66	−0.007%	$488K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.62	−0.033%	$1.7M	$102K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.62	−0.033%	$532K	$364K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.46	−0.138%	$3.1M	$2.1M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0051%	8h	152.63	−0.023%	$101	—	5x	as long as short
Binance SPCXUSDT	+0.0061%	8h	152.67	0.000%	$252.1M	$1.38B	75x	as long as short
Extended SPCX-USD	+0.0064%	1h	152.61	−0.039%	$724K	$5.4M	10x	as long as short
RISEx SPCX/USDC	+0.0068%	1h	152.67	+0.001%	$351K	$518K	20x	as long as short
OKX SPCX-USDT-SWAPshort	+0.0091%	8h	152.68	+0.007%	$39.4M	$168.6M	75x
Pacifica SPCX	+0.0100%	1h	152.55	−0.079%	$169K	$118K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.58	−0.059%	$13.0M	$6.1M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.59	−0.052%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.66	−0.007%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.63	−0.028%	$89	—	10x	as long as short
Bullet SPCX-USDlong	+0.0106%	1h	152.67	long leg	$12K	$191K	10x
Nado SPCX-PERP	+0.0117%	1h	152.58	−0.056%	$632K	$806K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0184%	1h	152.52	−0.098%	$689K	$1.0M	10x	as long as short
Phoenix SPCX	+0.0209%	1h	152.63	−0.026%	$448K	$271K	15x	as long as short
edgeX SPCXUSDC	+0.0307%	4h	152.57	−0.063%	$1.7M	$889K	20x	as long as short
Aster SPCXUSD1	+0.0386%	8h	152.82	+0.096%	$19.0M	$30.6M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.78	+0.072%	$9K	$28K	5.5x	as long as short