Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0241%/8hpaid last 24h −0.013%

Price spread now: Orderly against Deribit+0.039%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 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 pays, funding is against you. Orderly is 0.039% dearer against Deribit than usual: you sell high and buy low (spread +0.039% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 13 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SPCX_USDC-PERPETUAL	152.38	0.0341	pay 0.0043% / 1h	50m 55s	$69K	$961K	10x
Short	Orderly PERP_SPCX_USDC_mythos	152.44	0.0100	get 0.0100% / 8h	4h 50m	$14K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.039%Rate

Funding earned: −$50.61
Price spread: +0.039% → 0.000%: $3.94
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$59.67
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 2 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 Deribit live order book, 2 min ago	4.59 bp	8.7 bp −$9	10.3 bp −$103	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
edgeX SPCXUSDC	−0.0719%	4h	152.41	+0.023%	$1.7M	$893K	20x	as long as short
GMX SPCX/USD [ETH-USDC]	L −0.0207% / S +0.0415%	1h	152.40	+0.010%	$88K	—	20x	as long as short
BloFin SPCX-USDT	−0.0080%	8h	152.55	+0.112%	$1.9M	$1.3M	75x	as long as short
Aster SPCXUSD1	0.0000%	8h	152.44	+0.039%	$17.9M	$19.4M	20x	as long as short
OKX SPCX-USDT-SWAP	0.0000%	8h	152.41	+0.020%	$39.3M	$157.7M	75x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.35	−0.020%	$96.4M	$28.9M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.50	+13.201%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.49	+0.072%	$301K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.71	+0.217%	$8K	$997K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.50	+0.079%	$1.3M	$1.4M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SPCX	+0.0002%	8h	152.72	+0.221%	$6.1M	$4.3M	—	as long as short
Lighter SPCX	+0.0032%	1h	152.34	−0.026%	$1.6M	$7.0M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.31	−0.046%	$2.4M	$7.5M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+3.196%	$9K	$27K	5.5x	as long as short
Extended SPCX-USD	+0.0040%	1h	152.40	+0.012%	$705K	$3.5M	10x	as long as short
Binance SPCXUSDT	+0.0041%	8h	152.40	+0.012%	$254.6M	$1.30B	75x	as long as short
Bybit SPCXUSDT	+0.0042%	8h	152.39	+0.007%	$30.3M	$39.4M	100x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.44	+0.039%	—	$921K	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.32	−0.039%	$131.1M	$96.9M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.44	+0.039%	$490K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.38	0.000%	$1.7M	$80K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.44	+0.039%	$536K	$368K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.40	+0.013%	$3.1M	$2.4M	10x	as long as short
QFEX SPCX-USD	+0.0060%	1h	152.51	+0.085%	$1.2M	$7.0M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0061%	8h	152.52	+0.094%	$101	—	5x	as long as short
Aftermath Perps SPCXUSD	+0.0084%	1h	152.43	+0.036%	$8K	$10K	10x	as long as short
Pacifica SPCX	+0.0100%	1h	152.39	+0.007%	$175K	$132K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.28	−0.066%	$13.0M	$4.6M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.31	−0.046%	$58K	$270K	50x	as long as short
Orderly PERP_SPCX_USDC_mythosshort	+0.0100%	8h	152.44	+0.039%	$14K	$7K	10x
Aevo SPCX-PERP	+0.0104%	1h	152.42	+0.024%	$88	—	10x	as long as short
Bullet SPCX-USD	+0.0158%	1h	152.47	+0.060%	$11K	$189K	10x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0176%	1h	152.64	+0.171%	$674K	$849K	10x	as long as short
Phoenix SPCX	+0.0210%	1h	152.62	+0.158%	$370K	$186K	15x	as long as short
Bitget SPCXUSDT	+0.0239%	8h	152.40	+0.013%	$29.1M	$62.4M	75x	as long as short
Arcus SPCX-USD	+0.0250%	1h	152.44	+0.039%	$106K	$273K	5x	as long as short
Nado SPCX-PERP	+0.0268%	1h	152.32	−0.039%	$674K	$821K	20x	as long as short
Deribit SPCX_USDC-PERPETUALlong	+0.0341%	1h	152.38	long leg	$69K	$961K	10x
RISEx SPCX/USDC	+0.0357%	1h	152.55	+0.110%	$323K	$500K	20x	as long as short