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 +0.061%

Price spread now: Coinbase International against Gate−0.046%7-day average +0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$370.375% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.314%+$31 on $10k

Price spread, last 4 days (all we have)+0.046%+$5 · spread now −0.046%, 7d avg +0.029%

Together, before fees+0.359%+$36 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.075% cheaper against Gate than usual: you would sell low and buy high (spread −0.046% now, against its 7-day average of +0.029%). If the spread goes back, that is −$7 on $10k: about 31 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SPCX_USDT	152.43	0	get 0.0000% / 8h	1h 21m	$96.1M	$31.9M	100x
Short	Coinbase International SPCX-PERP-INTX	152.36	0.0192	get 0.0024% / 1h	21m 38s	$732K	$938K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. 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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now −0.046%Rate

Funding earned: $40.32
Price spread: −0.046% → +0.029%: −$7.49
Slippage, 4 orders: −$12.5
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$4.67
Costs to cover: 0.375%
Break-even: 7.8 days

Slippage from Gate: live order book, 2 min ago; Coinbase International: live order book, 22 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 Gate live order book, 2 min ago	0.98 bp	8.7 bp −$9	17.3 bp −$173	47.0 bp −$4,700	81.7 bp −$40.8K
Sell Coinbase International live order book, 22 min ago	2.95 bp	8.1 bp −$8	10.5 bp −$105	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	−0.056%	$90K	—	20x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.46	+0.020%	$30.6M	$42.7M	100x	as long as short
Gate SPCX_USDTlong	0.0000%	8h	152.43	long leg	$96.1M	$31.9M	100x
Bitget SPCXUSDT	0.0000%	8h	152.47	+0.026%	$31.2M	$66.0M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+13.183%	$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	152.72	+0.190%	$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
BloFin SPCX-USDT	+0.0004%	8h	152.44	+0.007%	$1.9M	$1.2M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0026%	1h	152.33	−0.067%	$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	152.38	−0.033%	$2.5M	$7.3M	20x	as long as short
QFEX SPCX-USD	+0.0038%	1h	152.42	−0.007%	$1.2M	$5.5M	10x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.35	−0.052%	$103K	$300K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.38	−0.033%	—	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.43	0.000%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.40	−0.020%	$530K	$379K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.31	−0.079%	$3.2M	$2.2M	10x	as long as short
RISEx SPCX/USDC	+0.0072%	1h	152.47	+0.026%	$393K	$505K	20x	as long as short
Pacifica SPCX	+0.0100%	1h	152.33	−0.066%	$168K	$120K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.29	−0.092%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.37	−0.039%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.43	0.000%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.44	+0.004%	$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	+0.0109%	1h	152.34	−0.059%	$130.1M	$129.1M	20x	as long as short
Paradex SPCX-USD-PERP	+0.0116%	8h	152.46	+0.020%	$101	—	5x	as long as short
Binance SPCXUSDT	+0.0128%	8h	152.46	+0.020%	$251.8M	$1.36B	75x	as long as short
Extended SPCX-USD	+0.0128%	1h	152.42	−0.004%	$733K	$3.5M	10x	as long as short
Lighter SPCX	+0.0136%	1h	152.40	−0.020%	$1.6M	$7.4M	20x	as long as short
OKX SPCX-USDT-SWAP	+0.0136%	8h	152.46	+0.020%	$39.5M	$166.7M	75x	as long as short
Polymarket Perps SPCX-USD	+0.0138%	1h	152.40	−0.020%	$487K	$1.2M	10x	as long as short
Coinbase International SPCX-PERP-INTXshort	+0.0192%	1h	152.36	−0.046%	$732K	$938K	10x
Phoenix SPCX	+0.0210%	1h	152.40	−0.020%	$443K	$266K	15x	as long as short
Nado SPCX-PERP	+0.0260%	1h	152.30	−0.084%	$626K	$808K	20x	as long as short
Bullet SPCX-USD	+0.0295%	1h	152.47	+0.023%	$11K	$192K	10x	as long as short
Aster SPCXUSD1	+0.0396%	8h	152.60	+0.109%	$18.9M	$29.5M	20x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0407%	1h	152.41	−0.013%	$89K	$1.3M	10x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.81	+0.249%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0608%	4h	152.42	−0.009%	$1.7M	$892K	20x	as long as short