Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0479%/8h= −52.5% APRpaid last 24h −0.002%

Price spread now: Phemex against edgeX+0.022%7-day average −0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs−$120as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$390.393% of the position

Long on edgeX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.804%−$80 on $10k

Price spread, last 3 days (all we have)−0.105%−$10 · spread now +0.022%, 7d avg −0.059%

Together, before fees−0.909%+ Points / potential airdropedgeX: Active · farm board−$91 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.081% dearer against edgeX than usual: you sell high and buy low (spread +0.022% now, against its 7-day average of −0.059%): +$8 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX SPCXUSDC	153.08	0.0529	pay 0.0265% / 4h	3h 47m	$1.7M	$893K	20x
Short	Phemex SPCXUSDT	153.11	0.0050	get 0.0050% / 8h	7h 47m	$534K	$415K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against edgeX. 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 edgeXbpFee PhemexbpOrdersPrice spread, now +0.022%Rate

Funding earned: −$100.67
Price spread: +0.022% → −0.059%: $8.13
Slippage, 4 orders: −$18.31
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$131.84
Costs to cover: 0.393%
Break-even: never at this rate

Slippage from edgeX: live order book, 2 min ago; Phemex: live order book, 25 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 edgeX live order book, 2 min ago	1.63 bp	6.1 bp −$6	7.1 bp −$71	20.4 bp −$2,037	doesn't fit
Sell Phemex live order book, 25 min ago	0.65 bp	13.3 bp −$13	doesn't fit	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 −0.0297% / S +0.0506%	1h	153.09	+0.006%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.10	+0.016%	$96.6M	$31.1M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.702%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.94	−0.089%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.35	+0.179%	$8K	$962K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.08	+0.003%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0026%	1h	152.98	−0.064%	$8K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	153.06	−0.010%	$1.6M	$7.4M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	153.03	−0.030%	$2.5M	$7.4M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+2.727%	$9K	$27K	5.5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SPCX-USD-PERP	+0.0046%	1h	153.09	+0.009%	—	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.10	+0.016%	$1.7M	$81K	20x	as long as short
Phemex SPCXUSDTshort	+0.0050%	8h	153.11	+0.022%	$534K	$415K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.89	−0.121%	$3.2M	$2.6M	10x	as long as short
QFEX SPCX-USD	+0.0063%	1h	153.09	+0.009%	$1.2M	$7.6M	10x	as long as short
BloFin SPCX-USDT	+0.0094%	8h	153.11	+0.022%	$1.9M	$1.4M	75x	as long as short
Pacifica SPCX	+0.0100%	1h	153.02	−0.036%	$173K	$129K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.97	−0.069%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.14	+0.042%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.11	+0.022%	$15K	$7K	10x	as long as short
Paradex SPCX-USD-PERP	+0.0101%	8h	153.12	+0.029%	$101	—	5x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.09	+0.008%	$89	—	10x	as long as short
Polymarket Perps SPCX-USD	+0.0109%	1h	153.08	+0.003%	$490K	$1.1M	10x	as long as short
Bybit SPCXUSDT	+0.0173%	8h	153.16	+0.055%	$30.8M	$42.8M	100x	as long as short
Nado SPCX-PERP	+0.0185%	1h	153.00	−0.048%	$602K	$865K	20x	as long as short
Arcus SPCX-USD	+0.0194%	1h	153.02	−0.036%	$105K	$297K	5x	as long as short
Variational Omni SPCX	+0.0194%	8h	153.06	−0.009%	$6.0M	$3.5M	—	as long as short
OKX SPCX-USDT-SWAP	+0.0205%	8h	153.16	+0.055%	$39.1M	$169.3M	75x	as long as short
Binance SPCXUSDT	+0.0214%	8h	153.13	+0.034%	$252.9M	$1.38B	75x	as long as short
Extended SPCX-USD	+0.0216%	1h	153.10	+0.013%	$732K	$3.7M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0291%	1h	153.07	−0.004%	$143.4M	$119.2M	20x	as long as short
Bullet SPCX-USD	+0.0312%	1h	153.14	+0.042%	$11K	$187K	10x	as long as short
Phoenix SPCX	+0.0314%	1h	153.06	−0.010%	$445K	$271K	15x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0328%	1h	153.14	+0.042%	$734K	$971K	10x	as long as short
Aster SPCXUSD1	+0.0329%	8h	153.05	−0.019%	$19.0M	$20.1M	20x	as long as short
Bitget SPCXUSDT	+0.0345%	8h	153.16	+0.055%	$31.3M	$66.6M	75x	as long as short
RISEx SPCX/USDC	+0.0409%	1h	153.13	+0.033%	$401K	$535K	20x	as long as short
edgeX SPCXUSDClong	+0.0529%	4h	153.08	long leg	$1.7M	$893K	20x
Deribit SPCX_USDC-PERPETUAL	+0.0600%	1h	153.11	+0.022%	$72K	$1.0M	10x	as long as short