Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0192%/8h= −21.0% APRpaid last 24h −0.045%

Price spread now: Bybit against Coinbase International+0.053%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$300.303% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.274%−$27 on $10k

Price spread, last 4 days (all we have)−0.038%−$4 · spread now +0.053%, 7d avg −0.005%

Together, before fees−0.313%−$31 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.058% dearer against Coinbase International than usual: you sell high and buy low (spread +0.053% now, against its 7-day average of −0.005%): +$6 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SPCX-PERP-INTX	152.36	0.0192	pay 0.0024% / 1h	23m 11s	$732K	$938K	10x
Short	Bybit SPCXUSDT	152.44	0	get 0.0000% / 8h	1h 23m	$30.6M	$42.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Coinbase International. 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 Coinbase InternationalbpFee BybitbpOrdersPrice spread, now +0.053%Rate

Funding earned: −$40.32
Price spread: +0.053% → −0.005%: $5.79
Slippage, 4 orders: −$9.3
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$64.83
Costs to cover: 0.303%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 20 min ago; Bybit: live order book, 6 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 Coinbase International live order book, 20 min ago	2.95 bp	8.0 bp −$8	11.0 bp −$110	doesn't fit	doesn't fit
Sell Bybit live order book, 6 min ago	0.33 bp	7.6 bp −$8	9.6 bp −$96	33.4 bp −$3,337	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	−0.016%	$90K	—	20x	as long as short
Bybit SPCXUSDTshort	0.0000%	8h	152.44	+0.053%	$30.6M	$42.7M	100x
Gate SPCX_USDT	0.0000%	8h	152.40	+0.026%	$96.1M	$31.9M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.45	+0.059%	$31.2M	$66.1M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+13.234%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.38	+0.013%	$300K	$2.7M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.71	+0.230%	$8K	$896K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.47	+0.072%	$1.3M	$1.8M	75x	as long as short
BloFin SPCX-USDT	+0.0004%	8h	152.44	+0.053%	$1.9M	$1.2M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0026%	1h	152.34	−0.012%	$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	0.000%	$2.5M	$7.3M	20x	as long as short
QFEX SPCX-USD	+0.0038%	1h	152.41	+0.033%	$1.2M	$5.5M	10x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.34	−0.013%	$103K	$299K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.36	0.000%	—	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.41	+0.033%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.39	+0.020%	$531K	$379K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.23	−0.085%	$3.2M	$2.2M	10x	as long as short
RISEx SPCX/USDC	+0.0072%	1h	152.45	+0.060%	$393K	$505K	20x	as long as short
Pacifica SPCX	+0.0100%	1h	152.28	−0.053%	$168K	$120K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.26	−0.066%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.29	−0.046%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.43	+0.046%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.41	+0.031%	$88	—	10x	as long as short
Variational Omni SPCX	+0.0104%	8h	152.41	+0.032%	$5.9M	$2.8M	—	as long as short
tradeXYZ xyz:SPCX	+0.0110%	1h	152.34	−0.013%	$130.1M	$129.1M	20x	as long as short
Paradex SPCX-USD-PERP	+0.0114%	8h	152.42	+0.041%	$101	—	5x	as long as short
Binance SPCXUSDT	+0.0124%	8h	152.45	+0.059%	$251.7M	$1.36B	75x	as long as short
Extended SPCX-USD	+0.0128%	1h	152.40	+0.027%	$733K	$3.6M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0133%	8h	152.46	+0.066%	$39.5M	$166.7M	75x	as long as short
Lighter SPCX	+0.0136%	1h	152.38	+0.013%	$1.6M	$7.4M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0137%	1h	152.40	+0.026%	$487K	$1.2M	10x	as long as short
Coinbase International SPCX-PERP-INTXlong	+0.0192%	1h	152.36	long leg	$732K	$938K	10x
Phoenix SPCX	+0.0210%	1h	152.40	+0.026%	$443K	$266K	15x	as long as short
Nado SPCX-PERP	+0.0259%	1h	152.28	−0.055%	$626K	$808K	20x	as long as short
edgeX SPCXUSDC	+0.0267%	4h	152.40	+0.025%	$1.7M	$891K	20x	as long as short
Bullet SPCX-USD	+0.0294%	1h	152.43	+0.049%	$11K	$192K	10x	as long as short
Aster SPCXUSD1	+0.0391%	8h	152.55	+0.127%	$18.8M	$29.4M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.81	+0.295%	$9K	$28K	5.5x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0472%	1h	152.38	+0.013%	$89K	$1.3M	10x	as long as short