Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 19:00 UTC+0.0149%/8hpaid last 24h +0.021%

Price spread now: Phoenix against Paradex−0.021%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Phoenix

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 airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Phoenix is 0.021% cheaper against Paradex than usual: you would sell low and buy high (spread −0.021% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 12 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex SPCX-USD-PERP	152.57	0.0060	pay 0.0060% / 8h	4h 23m	$101	—	5x
Short	Phoenix SPCX	152.54	0.0210	get 0.0026% / 1h	23m 30s	$370K	$186K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Paradex. 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 ParadexbpFee PhoenixbpOrdersPrice spread, now −0.021%Rate

Funding earned: $31.34
Price spread: −0.021% → 0.000%: −$2.15
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $18.2
Costs to cover: 0.110%
Break-even: 2.9 days

Slippage unknown: Paradex: no order-book sample; Phoenix: live order book, 7 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 Paradex no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 7 min ago	0.33 bp	6.6 bp −$7	21.7 bp −$217	doesn't fit	doesn't fit

Paradex: 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 −0.0207% / S +0.0415%	1h	152.47	−0.071%	$88K	—	20x	as long as short
BloFin SPCX-USDT	−0.0058%	8h	152.58	+0.005%	$1.9M	$1.3M	75x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.57	−0.002%	$96.6M	$29.8M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.50	+13.058%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.60	+0.018%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.78	+0.136%	$8K	$996K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.56	−0.008%	$1.3M	$1.5M	75x	as long as short
OKX SPCX-USDT-SWAP	+0.0014%	8h	152.65	+0.051%	$39.2M	$161.0M	75x	as long as short
Variational Omni SPCX	+0.0028%	8h	152.52	−0.032%	$6.1M	$4.3M	—	as long as short
Lighter SPCX	+0.0032%	1h	152.50	−0.048%	$1.6M	$7.0M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SPCX	+0.0032%	1h	152.48	−0.061%	$2.4M	$7.5M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+3.066%	$9K	$27K	5.5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.62	+0.031%	—	$941K	10x	as long as short
Aster SPCXUSD1	+0.0047%	8h	152.62	+0.029%	$17.9M	$19.5M	20x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.48	−0.061%	$131.1M	$97.9M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.57	−0.002%	$491K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.53	−0.028%	$1.7M	$80K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.57	−0.002%	$534K	$383K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.41	−0.107%	$3.1M	$2.5M	10x	as long as short
Bybit SPCXUSDT	+0.0055%	8h	152.62	+0.031%	$30.6M	$40.1M	100x	as long as short
QFEX SPCX-USD	+0.0060%	1h	152.64	+0.044%	$1.2M	$7.3M	10x	as long as short
Paradex SPCX-USD-PERPlong	+0.0060%	8h	152.57	long leg	$101	—	5x
Binance SPCXUSDT	+0.0062%	8h	152.63	+0.037%	$255.2M	$1.32B	75x	as long as short
Extended SPCX-USD	+0.0064%	1h	152.62	+0.033%	$715K	$3.5M	10x	as long as short
Pacifica SPCX	+0.0100%	1h	152.47	−0.067%	$176K	$135K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.47	−0.067%	$13.0M	$4.8M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.53	−0.028%	$58K	$270K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.58	+0.005%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.56	−0.007%	$88	—	10x	as long as short
Aftermath Perps SPCXUSD	+0.0116%	1h	152.40	−0.116%	$7K	$10K	10x	as long as short
Bullet SPCX-USD	+0.0163%	1h	152.55	−0.015%	$11K	$190K	10x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0176%	1h	152.69	+0.077%	$711K	$889K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0209%	1h	152.56	−0.008%	$70K	$985K	10x	as long as short
Phoenix SPCXshort	+0.0210%	1h	152.54	−0.021%	$370K	$186K	15x
Arcus SPCX-USD	+0.0250%	1h	152.60	+0.018%	$106K	$296K	5x	as long as short
Nado SPCX-PERP	+0.0257%	1h	152.50	−0.046%	$673K	$832K	20x	as long as short
Bitget SPCXUSDT	+0.0257%	8h	152.63	+0.037%	$29.2M	$63.2M	75x	as long as short
RISEx SPCX/USDC	+0.0357%	1h	152.69	+0.080%	$322K	$480K	20x	as long as short
edgeX SPCXUSDC	+0.0530%	4h	152.58	+0.003%	$1.7M	$893K	20x	as long as short