Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0303%/8h= +33.2% APRpaid last 24h +0.083%

Price spread now: Phemex against GMX+0.023%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 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

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Phemex is 0.023% dearer against GMX than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SPCX/USD [ETH-USDC]	153.01	L −0.0253% / S +0.0486%	get 0.0032% / 1h	5m 51s	$91K	—	20x
Short	Phemex SPCXUSDT	153.05	0.0050	get 0.0050% / 8h	4h 05m	$532K	$392K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against GMX. 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 GMXbpFee PhemexbpOrdersPrice spread, now +0.023%Rate

Funding earned: $63.72
Price spread: +0.023% → 0.000%: $2.29
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: $42.01
Costs to cover: 0.240%
Break-even: 2.4 days

Slippage unknown: GMX: no order-book sample; Phemex: live order book, 51 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Phemex live order book, 51 min ago	2.61 bp	25.4 bp −$25	doesn't fit	doesn't fit	doesn't fit

GMX: 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
GMX SPCX/USD [ETH-USDC]long	L −0.0253% / S +0.0486%	1h	153.01	long leg	$91K	—	20x
Bybit SPCXUSDT	0.0000%	8h	153.08	+0.042%	$30.8M	$42.9M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.04	+0.016%	$96.4M	$31.4M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	153.10	+0.056%	$31.7M	$65.3M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.752%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.93	−0.056%	$302K	$2.9M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.37	+0.232%	$7K	$939K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.11	+0.062%	$1.3M	$1.7M	75x	as long as short
BloFin SPCX-USDT	+0.0022%	8h	153.08	+0.042%	$1.9M	$1.4M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0023%	1h	153.04	+0.015%	$8K	$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 SPCX	+0.0032%	1h	152.98	−0.023%	$1.6M	$7.4M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.96	−0.036%	$2.5M	$7.3M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	153.00	−0.010%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.00	−0.010%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0046%	1h	153.03	+0.010%	$1.2M	$5.9M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	153.00	−0.010%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.03	+0.010%	$1.7M	$95K	20x	as long as short
Phemex SPCXUSDTshort	+0.0050%	8h	153.05	+0.023%	$532K	$392K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.93	−0.056%	$3.2M	$2.5M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0065%	8h	153.08	+0.045%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.97	−0.029%	$169K	$129K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.97	−0.029%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.01	−0.003%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.06	+0.029%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.04	+0.016%	$89	—	10x	as long as short
tradeXYZ xyz:SPCX	+0.0116%	1h	153.00	−0.010%	$141.4M	$119.0M	20x	as long as short
Bullet SPCX-USD	+0.0127%	1h	153.06	+0.029%	$11K	$191K	10x	as long as short
Variational Omni SPCX	+0.0129%	8h	153.05	+0.022%	$6.0M	$3.0M	—	as long as short
Nado SPCX-PERP	+0.0139%	1h	152.94	−0.052%	$617K	$817K	20x	as long as short
Binance SPCXUSDT	+0.0144%	8h	153.07	+0.037%	$248.1M	$1.36B	75x	as long as short
Extended SPCX-USD	+0.0144%	1h	153.04	+0.014%	$734K	$3.8M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0147%	8h	153.08	+0.042%	$39.5M	$166.5M	75x	as long as short
RISEx SPCX/USDC	+0.0191%	1h	153.08	+0.042%	$410K	$525K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	153.10	+0.056%	$738K	$926K	10x	as long as short
Phoenix SPCX	+0.0261%	1h	153.10	+0.056%	$445K	$268K	15x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0404%	1h	153.02	+0.003%	$83K	$1.2M	10x	as long as short
Aster SPCXUSD1	+0.0408%	8h	153.15	+0.088%	$18.9M	$21.4M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.35	+0.219%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0619%	4h	153.07	+0.034%	$1.7M	$891K	20x	as long as short