Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0243%/8h= +26.6% APRpaid last 24h +0.043%

Price spread now: Nado against Gate−0.022%7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$350.354% of the position

Long on Gate Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.071%+$7 on $10k

Price spread, last 7 days+0.071%+$7 · spread now −0.022%, 7d avg +0.021%

Together, before fees+0.141%+ Points / potential airdropNado: Active · farm board+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.043% cheaper against Gate than usual: you would sell low and buy high (spread −0.022% now, against its 7-day average of +0.021%). If the spread goes back, that is −$4 on $10k: about 14 hours of funding at the current rate (+$7 a day). At the pace of the last 3 days (+0.071% in total) that is about 48 hours.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.071% in total (about 7.9% 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	Gate SPCX_USDT	152.92	0	get 0.0000% / 8h	6h 38m	$96.2M	$31.2M	100x
Short	Nado SPCX-PERP	152.89	0.0243	get 0.0030% / 1h	38m 30s	$620K	$841K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.022%Rate

Funding earned: $50.96
Price spread: −0.022% → +0.021%: −$4.29
Slippage, 4 orders: −$13.4
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $11.27
Costs to cover: 0.354%
Break-even: 5.5 days

Slippage from Gate: live order book, 5 min ago; Nado: live order book, 30 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, 5 min ago	0.33 bp	12.0 bp −$12	17.5 bp −$175	50.2 bp −$5,024	83.3 bp −$41.7K
Sell Nado live order book, 30 min ago	0.33 bp	6.6 bp −$7	16.5 bp −$165	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 −0.0345% / S +0.0540%	1h	152.93	+0.003%	$88K	—	20x	as long as short
Gate SPCX_USDTlong	0.0000%	8h	152.92	long leg	$96.2M	$31.2M	100x
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.818%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.90	−0.013%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.20	+0.183%	$8K	$949K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.93	+0.007%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0025%	1h	152.95	+0.018%	$7K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.90	−0.013%	$1.6M	$7.2M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.88	−0.026%	$2.5M	$7.2M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	153.32	+0.262%	$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
Arcus SPCX-USD	+0.0040%	1h	152.91	−0.007%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.97	+0.033%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0049%	1h	152.95	+0.020%	$1.2M	$6.8M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.92	0.000%	$500K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.93	+0.007%	$1.7M	$89K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.96	+0.026%	$534K	$406K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.82	−0.065%	$3.2M	$2.6M	10x	as long as short
Bybit SPCXUSDT	+0.0054%	8h	152.95	+0.020%	$30.9M	$42.9M	100x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0077%	1h	152.90	−0.013%	$72K	$1.1M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0079%	8h	152.96	+0.028%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.85	−0.046%	$169K	$133K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.89	−0.020%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.05	+0.085%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.95	+0.020%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.95	+0.020%	$89	—	10x	as long as short
BloFin SPCX-USDT	+0.0116%	8h	153.03	+0.072%	$1.9M	$1.4M	75x	as long as short
Bullet SPCX-USD	+0.0123%	1h	152.94	+0.013%	$11K	$190K	10x	as long as short
tradeXYZ xyz:SPCX	+0.0140%	1h	152.93	+0.007%	$142.3M	$119.1M	20x	as long as short
Bitget SPCXUSDT	+0.0190%	8h	152.97	+0.033%	$31.8M	$66.4M	75x	as long as short
OKX SPCX-USDT-SWAP	+0.0195%	8h	152.95	+0.020%	$39.4M	$168.8M	75x	as long as short
Variational Omni SPCX	+0.0211%	8h	152.99	+0.047%	$6.0M	$3.3M	—	as long as short
Binance SPCXUSDT	+0.0222%	8h	152.95	+0.020%	$252.7M	$1.37B	75x	as long as short
Extended SPCX-USD	+0.0224%	1h	152.91	−0.003%	$736K	$3.8M	10x	as long as short
Nado SPCX-PERPshort	+0.0243%	1h	152.89	−0.022%	$620K	$841K	20x
Coinbase International SPCX-PERP-INTX	+0.0288%	1h	153.14	+0.144%	$728K	$969K	10x	as long as short
Phoenix SPCX	+0.0314%	1h	152.98	+0.039%	$445K	$270K	15x	as long as short
Aster SPCXUSD1	+0.0390%	8h	153.04	+0.077%	$19.0M	$16.6M	20x	as long as short
RISEx SPCX/USDC	+0.0410%	1h	153.00	+0.052%	$408K	$539K	20x	as long as short
edgeX SPCXUSDC	+0.0591%	4h	153.01	+0.060%	$1.7M	$892K	20x	as long as short