Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.011%

Price spread now: QFEX against Gate+0.033%55s7-day average −0.008% · 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—prices read too far apart to compare

costs, in and out, $10k−$330.332% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.013%+$1 on $10k

Price spread, last 7 days−0.026%−$3 · spread now +0.033%, 7d avg −0.008%

Together, before fees−0.013%−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and QFEX is 0.041% dearer against Gate than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.008%. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SPCX_USDT	152.37	0	get 0.0000% / 8h	3h 18m	$96.2M	$31.5M	100x
Short	QFEX SPCX-USD	152.42	0.0050	get 0.0006% / 1h	18m 34s	$1.2M	$5.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.033%Rate

Funding earned: $10.6
Price spread: +0.033% → −0.008%: $4.09
Slippage, 4 orders: −$8.22
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$18.53
Costs to cover: 0.332%
Break-even: 19.2 days

Slippage from Gate: live order book, 5 min ago; QFEX: live order book, 5 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	9.6 bp −$10	18.0 bp −$180	49.7 bp −$4,968	86.9 bp −$43.4K
Sell QFEX live order book, 5 min ago	1.64 bp	6.6 bp −$7	8.9 bp −$89	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 −0.0265% / S +0.0494%	1h	152.28	−0.056%	$90K	—	20x	as long as short
Gate SPCX_USDTlong	0.0000%	8h	152.37	long leg	$96.2M	$31.5M	100x
Bitget SPCXUSDT	0.0000%	8h	152.44	+0.046%	$31.3M	$65.9M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+13.229%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.45	+0.053%	$300K	$2.9M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.70	+0.217%	$8K	$920K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.46	+0.059%	$1.3M	$1.8M	75x	as long as short
Bybit SPCXUSDT	+0.0015%	8h	152.40	+0.020%	$30.6M	$42.7M	100x	as long as short
BloFin SPCX-USDT	+0.0024%	8h	152.43	+0.039%	$1.9M	$1.3M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0031%	1h	152.37	−0.002%	$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	152.31	−0.039%	$2.5M	$7.4M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.34	−0.020%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.40	+0.020%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.40	+0.020%	$493K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.38	+0.007%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.40	+0.020%	$531K	$392K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.22	−0.098%	$3.2M	$2.4M	10x	as long as short
QFEX SPCX-USDshort	+0.0050%	1h	152.42	+0.033%	$1.2M	$5.7M	10x
Paradex SPCX-USD-PERP	+0.0057%	8h	152.41	+0.026%	$101	—	5x	as long as short
Lighter SPCX	+0.0096%	1h	152.34	−0.020%	$1.6M	$7.4M	20x	as long as short
Pacifica SPCX	+0.0100%	1h	152.29	−0.053%	$168K	$120K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.32	−0.033%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.37	0.000%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.41	+0.026%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.39	+0.013%	$88	—	10x	as long as short
tradeXYZ xyz:SPCX	+0.0131%	1h	152.28	−0.059%	$131.3M	$128.2M	20x	as long as short
Variational Omni SPCX	+0.0131%	8h	152.45	+0.051%	$6.0M	$2.9M	—	as long as short
Binance SPCXUSDT	+0.0144%	8h	152.40	+0.019%	$250.4M	$1.36B	75x	as long as short
Extended SPCX-USD	+0.0144%	1h	152.35	−0.011%	$736K	$3.9M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0146%	8h	152.40	+0.020%	$39.4M	$166.3M	75x	as long as short
Nado SPCX-PERP	+0.0210%	1h	152.28	−0.058%	$613K	$802K	20x	as long as short
RISEx SPCX/USDC	+0.0217%	1h	152.41	+0.028%	$408K	$517K	20x	as long as short
Bullet SPCX-USD	+0.0219%	1h	152.42	+0.033%	$11K	$192K	10x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0248%	1h	152.44	+0.046%	$739K	$931K	10x	as long as short
Phoenix SPCX	+0.0261%	1h	152.41	+0.026%	$443K	$264K	15x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0341%	1h	152.39	+0.013%	$86K	$1.2M	10x	as long as short
Aster SPCXUSD1	+0.0419%	8h	152.47	+0.064%	$18.9M	$24.0M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.19	+0.538%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0459%	4h	152.44	+0.047%	$1.7M	$892K	20x	as long as short