Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0237%/8h= +26.0% APRpaid last 24h +0.049%

Price spread now: edgeX against Phemex−0.048%78s7-day average +0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs+$25as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$480.481% of the position

Long on Phemex Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.730%+$73 on $10k

Price spread, last 4 days (all we have)+0.178%+$18 · spread now −0.048%, 7d avg +0.053%

Together, before fees+0.908%+ Points / potential airdropedgeX: Active · farm board+$91 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.100% cheaper against Phemex than usual: you would sell low and buy high (spread −0.048% now, against its 7-day average of +0.053%). If the spread goes back, that is −$10 on $10k: about 34 hours of funding at the current rate (+$7 a day). The two prices were read 78 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	Phemex SPCXUSDT	152.62	0.0050	pay 0.0050% / 8h	6h 16m	$532K	$363K	50x
Short	edgeX SPCXUSDC	152.55	0.0287	get 0.0144% / 4h	2h 16m	$1.7M	$890K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Phemex. 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 PhemexbpFee edgeXbpOrdersPrice spread, now −0.048%Rate

Funding earned: $49.83
Price spread: −0.048% → +0.053%: −$10.04
Slippage, 4 orders: −$27.12
Fee Phemex: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$8.33
Costs to cover: 0.481%
Break-even: 8.2 days

Slippage from Phemex: live order book, 34 min ago; edgeX: live order book, 1 min ago.

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 Phemex live order book, 34 min ago	0.66 bp	24.9 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 1 min ago	1.64 bp	6.1 bp −$6	7.2 bp −$72	20.5 bp −$2,050	doesn't fit

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	152.59	−0.023%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0059%	8h	152.58	−0.026%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.68	+0.039%	$30.3M	$43.4M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.63	+0.007%	$96.1M	$32.5M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.70	+0.052%	$31.0M	$66.9M	75x	as long as short
StandX SPCX-USD	0.0000%	1h	152.58	−0.026%	$306K	$2.6M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.89	+0.177%	$8K	$827K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.67	+0.033%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0020%	1h	152.58	−0.024%	$7K	$7K	10x	as long as short
QFEX SPCX-USD	+0.0031%	1h	152.60	−0.013%	$1.2M	$5.4M	10x	as long as short

Show all 38 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SPCX	+0.0032%	1h	152.59	−0.020%	$1.6M	$7.4M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.57	−0.033%	$2.5M	$7.3M	20x	as long as short
Variational Omni SPCX	+0.0037%	8h	152.54	−0.050%	$5.9M	$2.7M	—	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.54	−0.052%	$103K	$295K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.57	−0.033%	—	$1.3M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.58	−0.026%	$128.8M	$129.1M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.62	0.000%	$489K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.62	0.000%	$1.7M	$102K	20x	as long as short
Phemex SPCXUSDTlong	+0.0050%	8h	152.62	long leg	$532K	$363K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.46	−0.105%	$3.1M	$2.1M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0051%	8h	152.59	−0.021%	$101	—	5x	as long as short
Binance SPCXUSDT	+0.0061%	8h	152.68	+0.039%	$252.2M	$1.38B	75x	as long as short
Extended SPCX-USD	+0.0064%	1h	152.60	−0.011%	$726K	$5.4M	10x	as long as short
RISEx SPCX/USDC	+0.0068%	1h	152.63	+0.005%	$351K	$518K	20x	as long as short
OKX SPCX-USDT-SWAP	+0.0091%	8h	152.69	+0.046%	$39.4M	$168.6M	75x	as long as short
Pacifica SPCX	+0.0100%	1h	152.51	−0.072%	$169K	$117K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.52	−0.066%	$13.0M	$6.0M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.46	−0.105%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.63	+0.007%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.59	−0.022%	$89	—	10x	as long as short
Bullet SPCX-USD	+0.0106%	1h	152.67	+0.033%	$11K	$191K	10x	as long as short
Nado SPCX-PERP	+0.0121%	1h	152.50	−0.078%	$633K	$805K	20x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0143%	1h	152.60	−0.013%	$50K	$1.4M	10x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0184%	1h	152.48	−0.092%	$687K	$1.0M	10x	as long as short
Phoenix SPCX	+0.0209%	1h	152.59	−0.020%	$448K	$271K	15x	as long as short
edgeX SPCXUSDCshort	+0.0287%	4h	152.55	−0.048%	$1.7M	$890K	20x
Aster SPCXUSD1	+0.0384%	8h	152.77	+0.098%	$19.0M	$30.6M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.78	+0.105%	$9K	$28K	5.5x	as long as short