Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0069%/8h= −7.6% APRpaid last 24h −0.003%

Price spread now: Orderly against Bullet−0.014%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bullet Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), 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	Bullet SPCX-USD	152.57	0.0169	pay 0.0021% / 1h	45m 15s	$12K	$193K	10x
Short	Orderly PERP_SPCX_USDC_mythos	152.55	0.0100	get 0.0100% / 8h	2h 45m	$14K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.014%Rate

Funding earned: −$14.55
Price spread: −0.014% → 0.000%: −$1.42
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$29.97
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Bullet: live order book, 4 min ago; Orderly: no order-book sample. Net counts fees only.

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, 4 min ago	0.65 bp	5.7 bp −$6	20.0 bp −$200	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0224% / S +0.0463%	1h	152.46	−0.076%	$90K	—	20x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.59	+0.012%	$30.6M	$42.7M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.55	−0.014%	$96.3M	$31.6M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.60	+0.019%	$31.3M	$65.9M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+13.080%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.57	−0.001%	$300K	$2.8M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.78	+0.137%	$8K	$916K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	0.0000%	1h	152.53	−0.027%	$87K	$1.2M	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.62	+0.032%	$1.3M	$1.8M	75x	as long as short
BloFin SPCX-USDT	+0.0007%	8h	152.56	−0.008%	$1.9M	$1.2M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps SPCXUSD	+0.0023%	1h	152.46	−0.073%	$7K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.52	−0.034%	$1.6M	$7.4M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.48	−0.060%	$2.5M	$7.3M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.47	−0.067%	$105K	$297K	5x	as long as short
QFEX SPCX-USD	+0.0043%	1h	152.52	−0.034%	$1.2M	$5.6M	10x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.57	−0.001%	—	$1.2M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.46	−0.073%	$131.0M	$128.6M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.52	−0.034%	$490K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.54	−0.021%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.58	+0.005%	$531K	$388K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.39	−0.119%	$3.2M	$2.3M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0062%	8h	152.57	+0.002%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.46	−0.073%	$169K	$119K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.43	−0.093%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.57	−0.001%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythosshort	+0.0100%	8h	152.55	−0.014%	$14K	$7K	10x
Aevo SPCX-PERP	+0.0104%	1h	152.56	−0.008%	$88	—	10x	as long as short
Nado SPCX-PERP	+0.0117%	1h	152.47	−0.066%	$614K	$803K	20x	as long as short
Variational Omni SPCX	+0.0119%	8h	152.53	−0.028%	$6.0M	$2.8M	—	as long as short
Binance SPCXUSDT	+0.0127%	8h	152.58	+0.005%	$250.4M	$1.36B	75x	as long as short
Extended SPCX-USD	+0.0128%	1h	152.54	−0.021%	$731K	$4.6M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0137%	8h	152.60	+0.019%	$39.4M	$166.5M	75x	as long as short
Bullet SPCX-USDlong	+0.0169%	1h	152.57	long leg	$12K	$193K	10x
RISEx SPCX/USDC	+0.0238%	1h	152.60	+0.022%	$408K	$521K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0248%	1h	152.44	−0.086%	$739K	$931K	10x	as long as short
Phoenix SPCX	+0.0263%	1h	152.54	−0.021%	$443K	$266K	15x	as long as short
Aster SPCXUSD1	+0.0388%	8h	152.60	+0.018%	$18.9M	$24.7M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.82	+0.163%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0771%	4h	152.54	−0.022%	$1.7M	$893K	20x	as long as short