Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Phemex against Ondo Perps−0.026%7-day average 0.000% · you buy dearer than you sell

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

Long on Ondo Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.150%−$15 on $10k

Price spread, last 4 days (all we have)−0.024%−$2 · spread now −0.026%, 7d avg 0.000%

Together, before fees−0.175%+ Points / potential airdropOndo Perps: Active · farm board−$17 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.027% cheaper against Ondo Perps than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps SPCX-USD.P	152.63	0.0050	pay 0.0006% / 1h	56m 08s	$3.1M	$2.1M	10x
Short	Phemex SPCXUSDT	152.59	0.0050	get 0.0050% / 8h	4h 56m	$531K	$377K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Ondo Perps. 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 Ondo PerpsbpFee PhemexbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$0.08
Price spread: −0.026% → 0.000%: −$2.67
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$19.75
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Phemex: live order book, 49 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Phemex live order book, 49 min ago	1.97 bp	17.6 bp −$18	doesn't fit	doesn't fit	doesn't fit

Ondo Perps: 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 38 exchanges

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 −0.0187% / S +0.0435%	1h	152.54	−0.056%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0073%	8h	152.63	0.000%	$2.0M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.61	−0.013%	$30.1M	$42.8M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.60	−0.020%	$96.2M	$30.3M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.62	−0.007%	$31.1M	$66.6M	75x	as long as short
StandX SPCX-USD	0.0000%	1h	152.56	−0.046%	$306K	$2.6M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.92	+0.190%	$8K	$810K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.70	+0.046%	$1.3M	$1.7M	75x	as long as short
Variational Omni SPCX	+0.0008%	8h	152.73	+0.068%	$5.9M	$2.7M	—	as long as short
Aftermath Perps SPCXUSD	+0.0020%	1h	152.59	−0.027%	$7K	$7K	10x	as long as short

Show all 38 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SPCX-USD	+0.0029%	1h	152.58	−0.033%	$1.2M	$5.4M	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.54	−0.059%	$1.6M	$7.2M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.51	−0.079%	$2.5M	$7.0M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	152.78	+0.098%	$9K	$28K	5.5x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.54	−0.059%	$103K	$293K	5x	as long as short
Binance SPCXUSDT	+0.0045%	8h	152.57	−0.039%	$251.7M	$1.37B	75x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.58	−0.033%	—	$1.2M	10x	as long as short
Extended SPCX-USD	+0.0048%	1h	152.59	−0.029%	$701K	$5.3M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.48	−0.098%	$128.1M	$129.8M	20x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.58	−0.033%	$1.7M	$56K	20x	as long as short
Phemex SPCXUSDTshort	+0.0050%	8h	152.59	−0.026%	$531K	$377K	50x
Paradex SPCX-USD-PERP	+0.0050%	8h	152.60	−0.020%	$101	—	5x	as long as short
Ondo Perps SPCX-USD.Plong	+0.0050%	1h	152.63	long leg	$3.1M	$2.1M	10x
Deribit SPCX_USDC-PERPETUAL	+0.0078%	1h	152.57	−0.039%	$43K	$1.4M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0081%	8h	152.64	+0.007%	$39.8M	$168.0M	75x	as long as short
Pacifica SPCX	+0.0100%	1h	152.51	−0.079%	$169K	$114K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.52	−0.072%	$13.0M	$6.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.69	+0.039%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.62	−0.007%	$15K	$7K	10x	as long as short
RISEx SPCX/USDC	+0.0104%	1h	152.64	+0.009%	$351K	$482K	20x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.58	−0.031%	$88	—	10x	as long as short
Polymarket Perps SPCX-USD	+0.0118%	1h	152.63	0.000%	$483K	$1.1M	10x	as long as short
Bullet SPCX-USD	+0.0156%	1h	152.64	+0.006%	$11K	$189K	10x	as long as short
Nado SPCX-PERP	+0.0157%	1h	152.55	−0.053%	$632K	$804K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0192%	1h	152.70	+0.046%	$735K	$1.1M	10x	as long as short
Phoenix SPCX	+0.0209%	1h	152.64	+0.007%	$449K	$272K	15x	as long as short
edgeX SPCXUSDC	+0.0376%	4h	152.73	+0.063%	$1.7M	$888K	20x	as long as short
Aster SPCXUSD1	+0.0415%	8h	152.70	+0.045%	$19.0M	$30.5M	20x	as long as short