Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0038%/8h= +4.1% APRpaid last 24h −0.004%

Price spread now: QFEX against Bybit−0.033%53s7-day average −0.035% · 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—prices read too far apart to compare

costs, in and out, $10k−$270.268% of the position

Long on Bybit Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.001%$0 on $10k

Price spread, last 7 days+0.014%+$1 · spread now −0.033%, 7d avg −0.035%

Together, before fees+0.013%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.035%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SPCXUSDT	152.43	0	get 0.0000% / 8h	1h 25m	$30.6M	$42.7M	100x
Short	QFEX SPCX-USD	152.38	0.0038	get 0.0005% / 1h	25m 47s	$1.2M	$5.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Bybit. 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 BybitbpFee QFEXbpOrdersPrice spread, now −0.033%Rate

Funding earned: $7.91
Price spread: −0.033% → −0.035%: $0.27
Slippage, 4 orders: −$5.85
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$18.67
Costs to cover: 0.268%
Break-even: 23.5 days

Slippage from Bybit: live order book, 3 min ago; QFEX: live order book, 8 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 Bybit live order book, 3 min ago	0.33 bp	6.6 bp −$7	11.3 bp −$113	45.2 bp −$4,520	doesn't fit
Sell QFEX live order book, 8 min ago	1.31 bp	6.3 bp −$6	10.3 bp −$103	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	152.34	−0.062%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0001%	8h	152.41	−0.013%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDTlong	0.0000%	8h	152.43	long leg	$30.6M	$42.7M	100x
Gate SPCX_USDT	0.0000%	8h	152.39	−0.026%	$96.1M	$31.9M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.43	0.000%	$31.2M	$66.1M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+13.181%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.38	−0.033%	$300K	$2.7M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.71	+0.184%	$8K	$896K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.47	+0.026%	$1.3M	$1.8M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0026%	1h	152.34	−0.057%	$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	152.36	−0.046%	$2.5M	$7.3M	20x	as long as short
QFEX SPCX-USDshort	+0.0038%	1h	152.38	−0.033%	$1.2M	$5.5M	10x
Arcus SPCX-USD	+0.0040%	1h	152.33	−0.066%	$103K	$299K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.33	−0.066%	—	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.41	−0.013%	$1.7M	$98K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.39	−0.026%	$531K	$379K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.23	−0.131%	$3.2M	$2.2M	10x	as long as short
RISEx SPCX/USDC	+0.0072%	1h	152.44	+0.008%	$393K	$505K	20x	as long as short
Pacifica SPCX	+0.0100%	1h	152.30	−0.085%	$168K	$120K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.27	−0.105%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.48	+0.033%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.41	−0.013%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.40	−0.018%	$88	—	10x	as long as short
Variational Omni SPCX	+0.0104%	8h	152.41	−0.014%	$5.9M	$2.8M	—	as long as short
tradeXYZ xyz:SPCX	+0.0107%	1h	152.34	−0.059%	$130.1M	$129.1M	20x	as long as short
Paradex SPCX-USD-PERP	+0.0112%	8h	152.43	+0.003%	$101	—	5x	as long as short
Extended SPCX-USD	+0.0120%	1h	152.39	−0.025%	$733K	$3.6M	10x	as long as short
Binance SPCXUSDT	+0.0121%	8h	152.43	0.000%	$251.7M	$1.36B	75x	as long as short
OKX SPCX-USDT-SWAP	+0.0129%	8h	152.43	0.000%	$39.5M	$166.7M	75x	as long as short
Polymarket Perps SPCX-USD	+0.0135%	1h	152.36	−0.046%	$487K	$1.2M	10x	as long as short
Lighter SPCX	+0.0136%	1h	152.35	−0.052%	$1.6M	$7.4M	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0192%	1h	152.36	−0.046%	$732K	$938K	10x	as long as short
Phoenix SPCX	+0.0210%	1h	152.43	0.000%	$443K	$266K	15x	as long as short
edgeX SPCXUSDC	+0.0217%	4h	152.44	+0.008%	$1.7M	$890K	20x	as long as short
Nado SPCX-PERP	+0.0258%	1h	152.24	−0.127%	$626K	$808K	20x	as long as short
Bullet SPCX-USD	+0.0291%	1h	152.42	−0.005%	$11K	$192K	10x	as long as short
Aster SPCXUSD1	+0.0387%	8h	152.53	+0.067%	$18.9M	$29.1M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.81	+0.249%	$9K	$28K	5.5x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0604%	1h	152.39	−0.026%	$89K	$1.3M	10x	as long as short