Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0282%/8h= −30.8% APRpaid last 24h 0.000%

Price spread now: OKX against Injective−0.215%58s7-day average — · you buy dearer than you sell

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

Long on Injective Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$6 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and OKX is 0.215% cheaper against Injective than usual: you would sell low and buy high (−$22 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.065% in total (about -3.4% 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	Injective SPCX/USDC PERP	153.24	0.0440	pay 0.0055% / 1h	42m 24s	$9K	$28K	5.5x
Short	OKX SPCX-USDT-SWAP	152.91	0.0158	get 0.0158% / 8h	3h 42m	$39.6M	$166.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Injective. 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 InjectivebpFee OKXbpOrdersPrice spread, now −0.215%Rate

Funding earned: −$59.14
Price spread: −0.215% → 0.000%: −$21.53
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: −$90.69
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; OKX: live order book, 2 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 Injective no order-book sample	—	—	—	—	—
Sell OKX live order book, 2 min ago	0.33 bp	5.9 bp −$6	7.6 bp −$76	12.5 bp −$1,254	doesn't fit

Injective: 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]	L −0.0214% / S +0.0456%	1h	152.84	−0.258%	$90K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.86	−0.248%	$96.3M	$31.2M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.91	−0.215%	$31.8M	$65.3M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.588%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.92	−0.209%	$301K	$2.9M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.12	−0.078%	$8K	$930K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.93	−0.202%	$1.3M	$1.7M	75x	as long as short
Bybit SPCXUSDT	+0.0017%	8h	152.88	−0.235%	$30.7M	$42.6M	100x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.81	−0.281%	$2.5M	$7.3M	20x	as long as short
Aftermath Perps SPCXUSD	+0.0032%	1h	152.86	−0.246%	$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
BloFin SPCX-USDT	+0.0035%	8h	152.91	−0.215%	$1.9M	$1.3M	75x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.82	−0.274%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.81	−0.281%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.83	−0.268%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.85	−0.255%	$1.7M	$97K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.88	−0.235%	$533K	$391K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.79	−0.294%	$3.2M	$2.4M	10x	as long as short
QFEX SPCX-USD	+0.0050%	1h	152.85	−0.255%	$1.2M	$5.8M	10x	as long as short
Pacifica SPCX	+0.0100%	1h	152.78	−0.300%	$169K	$121K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.78	−0.300%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.92	−0.209%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.85	−0.255%	$15K	$7K	10x	as long as short
Paradex SPCX-USD-PERP	+0.0101%	8h	152.90	−0.224%	$101	—	5x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.85	−0.254%	$89	—	10x	as long as short
Variational Omni SPCX	+0.0141%	8h	152.91	−0.216%	$6.0M	$2.9M	—	as long as short
Lighter SPCX	+0.0152%	1h	152.84	−0.261%	$1.6M	$7.3M	20x	as long as short
Extended SPCX-USD	+0.0152%	1h	152.83	−0.265%	$738K	$3.8M	10x	as long as short
Binance SPCXUSDT	+0.0155%	8h	152.88	−0.237%	$248.6M	$1.36B	75x	as long as short
OKX SPCX-USDT-SWAPshort	+0.0158%	8h	152.91	−0.215%	$39.6M	$166.1M	75x
edgeX SPCXUSDC	+0.0206%	4h	152.89	−0.227%	$1.7M	$893K	20x	as long as short
RISEx SPCX/USDC	+0.0217%	1h	152.89	−0.227%	$409K	$517K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0248%	1h	152.90	−0.222%	$741K	$939K	10x	as long as short
Nado SPCX-PERP	+0.0249%	1h	152.73	−0.331%	$615K	$810K	20x	as long as short
Phoenix SPCX	+0.0261%	1h	152.93	−0.202%	$445K	$264K	15x	as long as short
Bullet SPCX-USD	+0.0279%	1h	152.90	−0.225%	$12K	$192K	10x	as long as short
tradeXYZ xyz:SPCX	+0.0281%	1h	152.84	−0.261%	$141.3M	$119.2M	20x	as long as short
Aster SPCXUSD1	+0.0430%	8h	152.95	−0.188%	$19.0M	$22.9M	20x	as long as short
Injective SPCX/USDC PERPlong	+0.0440%	1h	153.24	long leg	$9K	$28K	5.5x
Deribit SPCX_USDC-PERPETUAL	+0.0601%	1h	152.84	−0.261%	$85K	$1.2M	10x	as long as short