Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0536%/8h= −58.7% APRpaid last 24h −0.039%

Price spread now: Binance against Deribit+0.028%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−$29as in the Price arb table

costs, in and out, $10k−$300.301% of the position

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.118%−$12 on $10k

Price spread, last 4 days (all we have)−0.002%$0 · spread now +0.028%, 7d avg +0.014%

Together, before fees−0.119%−$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: −$16 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid -0.118% in total (about -8.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SPCX_USDC-PERPETUAL	152.35	0.0670	pay 0.0084% / 1h	17m 14s	$89K	$1.3M	10x
Short	Binance SPCXUSDT	152.39	0.0134	get 0.0134% / 8h	1h 17m	$251.7M	$1.36B	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now +0.028%Rate

Funding earned: −$112.57
Price spread: +0.028% → +0.014%: $1.4
Slippage, 4 orders: −$13.15
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$141.31
Costs to cover: 0.301%
Break-even: never at this rate

Slippage from Deribit: live order book, 2 min ago; Binance: live order book, 12 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 Deribit live order book, 2 min ago	4.59 bp	9.7 bp −$10	11.2 bp −$112	doesn't fit	doesn't fit
Sell Binance live order book, 12 min ago	0.33 bp	5.3 bp −$5	5.9 bp −$59	9.1 bp −$908	18.5 bp −$9,253

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	152.31	−0.023%	$90K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.37	+0.013%	$96.1M	$31.9M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.41	+0.039%	$31.2M	$66.1M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+13.244%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.38	+0.020%	$300K	$2.7M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.71	+0.236%	$8K	$896K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.48	+0.085%	$1.3M	$1.8M	75x	as long as short
Bybit SPCXUSDT	+0.0005%	8h	152.38	+0.020%	$30.6M	$42.7M	100x	as long as short
BloFin SPCX-USDT	+0.0014%	8h	152.41	+0.039%	$1.9M	$1.2M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0027%	1h	152.34	−0.005%	$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	152.30	−0.033%	$2.5M	$7.3M	20x	as long as short
QFEX SPCX-USD	+0.0038%	1h	152.38	+0.020%	$1.2M	$5.5M	10x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.33	−0.013%	$103K	$300K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.32	−0.020%	—	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.37	+0.013%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.39	+0.026%	$530K	$379K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.26	−0.059%	$3.2M	$2.2M	10x	as long as short
RISEx SPCX/USDC	+0.0072%	1h	152.44	+0.059%	$393K	$505K	20x	as long as short
Pacifica SPCX	+0.0100%	1h	152.30	−0.033%	$168K	$120K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.26	−0.059%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.37	+0.013%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.42	+0.046%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.39	+0.025%	$88	—	10x	as long as short
Variational Omni SPCX	+0.0112%	8h	152.42	+0.045%	$5.9M	$2.8M	—	as long as short
tradeXYZ xyz:SPCX	+0.0117%	1h	152.29	−0.039%	$130.1M	$129.1M	20x	as long as short
Paradex SPCX-USD-PERP	+0.0125%	8h	152.41	+0.040%	$101	—	5x	as long as short
Binance SPCXUSDTshort	+0.0134%	8h	152.39	+0.028%	$251.7M	$1.36B	75x
Extended SPCX-USD	+0.0136%	1h	152.36	+0.004%	$725K	$3.6M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0139%	1h	152.36	+0.007%	$487K	$1.2M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0142%	8h	152.43	+0.053%	$39.5M	$166.7M	75x	as long as short
Lighter SPCX	+0.0152%	1h	152.32	−0.020%	$1.6M	$7.4M	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0192%	1h	152.36	+0.007%	$732K	$938K	10x	as long as short
Phoenix SPCX	+0.0210%	1h	152.39	+0.026%	$443K	$266K	15x	as long as short
Nado SPCX-PERP	+0.0265%	1h	152.24	−0.074%	$626K	$807K	20x	as long as short
Bullet SPCX-USD	+0.0301%	1h	152.40	+0.036%	$11K	$191K	10x	as long as short
Aster SPCXUSD1	+0.0400%	8h	152.50	+0.097%	$18.9M	$29.7M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.81	+0.302%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0608%	4h	152.38	+0.019%	$1.7M	$892K	20x	as long as short
Deribit SPCX_USDC-PERPETUALlong	+0.0670%	1h	152.35	long leg	$89K	$1.3M	10x