Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0158%/8h= +17.3% APRpaid last 24h +0.009%

Price spread now: Variational Omni against Injective−2.668%91s7-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 Variational Omni

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 2.668% cheaper against Injective than usual: you would sell low and buy high (spread −2.668% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$267 on $10k: about 56 days of funding at the current rate (+$5 a day). The two prices were read 91 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	Injective SPCX/USDC PERP	157.25	0.0033	pay 0.0004% / 1h	51m 46s	$9K	$27K	5.5x
Short	Variational Omni SPCX	153.05	0.0192	get 0.0192% / 8h	7h 51m	$6.0M	$3.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −2.668%Rate

Funding earned: $33.22
Price spread: −2.668% → 0.000%: −$266.81
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$233.62
Costs to cover: 0.000%
Break-even: 56.2 days

Slippage unknown: Injective: no order-book sample; Variational Omni: RFQ quote, 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 Variational Omni RFQ quote, 2 min ago	2.32 bp	doesn't fit	2.9 bp −$29	doesn't fit	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 −0.0294% / S +0.0504%	1h	153.03	−2.680%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.05	−2.671%	$96.6M	$31.0M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.51	+9.707%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.99	−2.709%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.31	−2.506%	$8K	$965K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.06	−2.665%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0027%	1h	152.90	−2.764%	$7K	$8K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	153.01	−2.696%	$2.5M	$7.4M	20x	as long as short
Injective SPCX/USDC PERPlong	+0.0033%	1h	157.25	long leg	$9K	$27K	5.5x
Lighter SPCX	+0.0040%	1h	153.04	−2.677%	$1.6M	$7.4M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SPCX-USD-PERP	+0.0046%	1h	153.10	−2.639%	—	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.06	−2.665%	$1.7M	$81K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.98	−2.715%	$535K	$415K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.92	−2.754%	$3.2M	$2.7M	10x	as long as short
QFEX SPCX-USD	+0.0063%	1h	153.05	−2.671%	$1.2M	$7.6M	10x	as long as short
Bybit SPCXUSDT	+0.0085%	8h	153.09	−2.645%	$30.8M	$42.8M	100x	as long as short
BloFin SPCX-USDT	+0.0089%	8h	153.12	−2.626%	$1.9M	$1.4M	75x	as long as short
Pacifica SPCX	+0.0100%	1h	152.98	−2.715%	$173K	$129K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.96	−2.728%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.93	−2.747%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.08	−2.652%	$15K	$7K	10x	as long as short
Paradex SPCX-USD-PERP	+0.0102%	8h	153.07	−2.657%	$101	—	5x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.03	−2.681%	$89	—	10x	as long as short
Nado SPCX-PERP	+0.0163%	1h	153.00	−2.701%	$602K	$872K	20x	as long as short
Polymarket Perps SPCX-USD	+0.0190%	1h	153.06	−2.665%	$490K	$1.1M	10x	as long as short
Variational Omni SPCXshort	+0.0192%	8h	153.05	−2.668%	$6.0M	$3.5M	—
Arcus SPCX-USD	+0.0194%	1h	152.99	−2.709%	$105K	$297K	5x	as long as short
OKX SPCX-USDT-SWAP	+0.0201%	8h	153.08	−2.652%	$39.1M	$169.2M	75x	as long as short
Extended SPCX-USD	+0.0208%	1h	153.05	−2.673%	$732K	$3.7M	10x	as long as short
Binance SPCXUSDT	+0.0210%	8h	153.08	−2.652%	$252.8M	$1.38B	75x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0273%	1h	153.06	−2.665%	$71K	$1.0M	10x	as long as short
Phoenix SPCX	+0.0314%	1h	153.05	−2.671%	$445K	$271K	15x	as long as short
Aster SPCXUSD1	+0.0323%	8h	153.05	−2.672%	$19.0M	$21.2M	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0328%	1h	153.14	−2.614%	$734K	$971K	10x	as long as short
Bitget SPCXUSDT	+0.0332%	8h	153.09	−2.645%	$31.3M	$66.7M	75x	as long as short
tradeXYZ xyz:SPCX	+0.0351%	1h	153.03	−2.684%	$143.4M	$119.2M	20x	as long as short
Bullet SPCX-USD	+0.0402%	1h	153.10	−2.639%	$11K	$187K	10x	as long as short
RISEx SPCX/USDC	+0.0409%	1h	153.11	−2.631%	$401K	$535K	20x	as long as short
edgeX SPCXUSDC	+0.0706%	4h	153.00	−2.705%	$1.7M	$892K	20x	as long as short