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: Injective against Orderly+0.085%58s7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Injective

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 for this trade now. Funding pays +$10 a day on $10k at the current rate, and Injective is 0.085% dearer against Orderly than usual: you sell high and buy low: +$9 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 58 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	Orderly PERP_SPCX_USDC_mythos	152.54	0.0100	pay 0.0100% / 8h	2h 46m	$14K	$7K	10x
Short	Injective SPCX/USDC PERP	152.67	0.0440	get 0.0055% / 1h	46m 04s	$9K	$28K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Orderly. 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 OrderlybpFee InjectivebpOrdersPrice spread, now +0.085%Rate

Funding earned: $71.4
Price spread: +0.085% → 0.000%: $8.52
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $73.9
Costs to cover: 0.060%
Break-even: from the start

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

Orderly and 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 −0.0224% / S +0.0463%	1h	152.44	−0.062%	$90K	—	20x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.56	+0.013%	$30.6M	$42.7M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.53	−0.007%	$96.3M	$31.6M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.58	+0.026%	$31.3M	$65.9M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+13.104%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.59	+0.033%	$300K	$2.8M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.78	+0.157%	$8K	$916K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.59	+0.033%	$1.3M	$1.8M	75x	as long as short
BloFin SPCX-USDT	+0.0009%	8h	152.56	+0.013%	$1.9M	$1.2M	75x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0012%	1h	152.51	−0.020%	$87K	$1.2M	10x	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	152.46	−0.052%	$7K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.50	−0.026%	$1.6M	$7.4M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.46	−0.052%	$2.5M	$7.3M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.48	−0.039%	$105K	$297K	5x	as long as short
QFEX SPCX-USD	+0.0043%	1h	152.53	−0.007%	$1.2M	$5.6M	10x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.56	+0.013%	—	$1.2M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.44	−0.066%	$130.9M	$128.6M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.52	−0.013%	$490K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.52	−0.013%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.56	+0.013%	$531K	$388K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.38	−0.105%	$3.2M	$2.3M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0062%	8h	152.57	+0.017%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.46	−0.052%	$169K	$119K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.40	−0.092%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.60	+0.039%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythoslong	+0.0100%	8h	152.54	long leg	$14K	$7K	10x
Aevo SPCX-PERP	+0.0104%	1h	152.54	+0.001%	$88	—	10x	as long as short
Nado SPCX-PERP	+0.0119%	1h	152.51	−0.022%	$614K	$804K	20x	as long as short
Variational Omni SPCX	+0.0119%	8h	152.53	−0.008%	$6.0M	$2.8M	—	as long as short
Extended SPCX-USD	+0.0128%	1h	152.50	−0.024%	$731K	$4.6M	10x	as long as short
Binance SPCXUSDT	+0.0128%	8h	152.55	+0.006%	$250.3M	$1.36B	75x	as long as short
OKX SPCX-USDT-SWAP	+0.0138%	8h	152.57	+0.020%	$39.4M	$166.5M	75x	as long as short
Bullet SPCX-USD	+0.0176%	1h	152.56	+0.010%	$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	−0.066%	$739K	$931K	10x	as long as short
Phoenix SPCX	+0.0263%	1h	152.55	+0.007%	$443K	$266K	15x	as long as short
Aster SPCXUSD1	+0.0390%	8h	152.60	+0.037%	$18.9M	$24.7M	20x	as long as short
Injective SPCX/USDC PERPshort	+0.0440%	1h	152.67	+0.085%	$9K	$28K	5.5x
edgeX SPCXUSDC	+0.0988%	4h	152.54	+0.001%	$1.7M	$893K	20x	as long as short