Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0340%/8h= −37.2% APRpaid last 24h +0.005%

Price spread now: Orderly against Injective−0.079%7-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 Orderly

What this pair did over the last

the charts below follow

Funding, last 5 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 against this trade now: funding costs −$10 a day on $10k at the current rate, and Orderly is 0.079% cheaper against Injective than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective SPCX/USDC PERP	152.67	0.0440	pay 0.0055% / 1h	46m 33s	$9K	$28K	5.5x
Short	Orderly PERP_SPCX_USDC_mythos	152.55	0.0100	get 0.0100% / 8h	2h 46m	$14K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.079%Rate

Funding earned: −$71.4
Price spread: −0.079% → 0.000%: −$7.86
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$85.28
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

Injective and Orderly: 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 −0.0224% / S +0.0463%	1h	152.44	−0.147%	$90K	—	20x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.56	−0.072%	$30.6M	$42.7M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.54	−0.085%	$96.3M	$31.6M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.58	−0.059%	$31.3M	$65.9M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+13.008%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.59	−0.052%	$300K	$2.8M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.78	+0.072%	$8K	$916K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	0.0000%	1h	152.51	−0.105%	$87K	$1.2M	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.58	−0.059%	$1.3M	$1.8M	75x	as long as short
BloFin SPCX-USDT	+0.0009%	8h	152.56	−0.072%	$1.9M	$1.2M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps SPCXUSD	+0.0024%	1h	152.45	−0.143%	$7K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.50	−0.111%	$1.6M	$7.4M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.47	−0.131%	$2.5M	$7.2M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.48	−0.124%	$105K	$297K	5x	as long as short
QFEX SPCX-USD	+0.0043%	1h	152.53	−0.092%	$1.2M	$5.6M	10x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.56	−0.072%	—	$1.2M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.45	−0.144%	$131.0M	$128.6M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.52	−0.098%	$490K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.53	−0.092%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.56	−0.072%	$531K	$388K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.38	−0.190%	$3.2M	$2.3M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0062%	8h	152.57	−0.068%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.46	−0.138%	$169K	$119K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.42	−0.164%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.60	−0.046%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythosshort	+0.0100%	8h	152.55	−0.079%	$14K	$7K	10x
Aevo SPCX-PERP	+0.0104%	1h	152.55	−0.077%	$88	—	10x	as long as short
Nado SPCX-PERP	+0.0119%	1h	152.51	−0.108%	$614K	$804K	20x	as long as short
Variational Omni SPCX	+0.0124%	8h	152.56	−0.073%	$6.0M	$2.9M	—	as long as short
Extended SPCX-USD	+0.0128%	1h	152.52	−0.099%	$731K	$4.6M	10x	as long as short
Binance SPCXUSDT	+0.0128%	8h	152.55	−0.077%	$250.3M	$1.36B	75x	as long as short
OKX SPCX-USDT-SWAP	+0.0138%	8h	152.57	−0.066%	$39.4M	$166.5M	75x	as long as short
Bullet SPCX-USD	+0.0176%	1h	152.56	−0.075%	$12K	$193K	10x	as long as short
RISEx SPCX/USDC	+0.0238%	1h	152.60	−0.043%	$408K	$522K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0248%	1h	152.44	−0.151%	$739K	$931K	10x	as long as short
Phoenix SPCX	+0.0263%	1h	152.55	−0.079%	$443K	$266K	15x	as long as short
Aster SPCXUSD1	+0.0390%	8h	152.60	−0.049%	$18.9M	$24.7M	20x	as long as short
Injective SPCX/USDC PERPlong	+0.0440%	1h	152.67	long leg	$9K	$28K	5.5x
edgeX SPCXUSDC	+0.0988%	4h	152.54	−0.084%	$1.7M	$893K	20x	as long as short