Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Pacifica against Phemex−0.052%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$410.408% of the position

Long on Phemex Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.131%+$13 on $10k

Price spread, last 4 days (all we have)+0.121%+$12 · spread now −0.052%, 7d avg +0.005%

Together, before fees+0.253%+ Points / potential airdropPacifica: Active · farm board+$25 on $10k · with fees, hour by hour

Funding pays, the price is against you. Pacifica is 0.058% cheaper against Phemex than usual: you would sell low and buy high (spread −0.052% now, against its 7-day average of +0.005%). If the spread goes back, that is −$6 on $10k: about 3.8 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SPCXUSDT	152.74	0.0050	pay 0.0050% / 8h	2h 04m	$531K	$385K	50x
Short	Pacifica SPCX	152.66	0.0100	get 0.0013% / 1h	4m 29s	$169K	$118K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.052%Rate

Funding earned: $10.5
Price spread: −0.052% → +0.005%: −$5.76
Slippage, 4 orders: −$20.77
Fee Phemex: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$36.03
Costs to cover: 0.408%
Break-even: 31.0 days

Slippage from Phemex: live order book, 43 min ago; Pacifica: live order book, 43 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, 43 min ago	0.65 bp	9.6 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica live order book, 43 min ago	0.33 bp	6.8 bp −$7	doesn't fit	doesn't fit	doesn't fit

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 −0.0187% / S +0.0435%	1h	152.63	−0.069%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0023%	8h	152.68	−0.039%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.74	0.000%	$30.7M	$42.7M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.70	−0.026%	$96.2M	$31.9M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.73	−0.007%	$31.2M	$65.9M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.958%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.78	+0.026%	$301K	$2.7M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.96	+0.144%	$8K	$897K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	0.0000%	1h	152.70	−0.026%	$88K	$1.3M	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.82	+0.052%	$1.3M	$1.8M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX SPCXUSDC	+0.0007%	4h	152.75	+0.008%	$1.7M	$892K	20x	as long as short
Aftermath Perps SPCXUSD	+0.0017%	1h	152.68	−0.039%	$7K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.67	−0.046%	$1.6M	$7.4M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.65	−0.059%	$2.5M	$7.3M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.65	−0.059%	$105K	$297K	5x	as long as short
QFEX SPCX-USD	+0.0043%	1h	152.69	−0.033%	$1.2M	$5.5M	10x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.75	+0.007%	—	$1.2M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.64	−0.065%	$130.2M	$129.0M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.68	−0.039%	$488K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.69	−0.033%	$1.7M	$96K	20x	as long as short
Phemex SPCXUSDTlong	+0.0050%	8h	152.74	long leg	$531K	$385K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.59	−0.098%	$3.2M	$2.3M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0056%	8h	152.72	−0.012%	$101	—	5x	as long as short
Variational Omni SPCX	+0.0081%	8h	152.73	−0.008%	$6.0M	$2.8M	—	as long as short
Nado SPCX-PERP	+0.0094%	1h	152.69	−0.034%	$613K	$801K	20x	as long as short
Binance SPCXUSDT	+0.0096%	8h	152.72	−0.011%	$250.1M	$1.36B	75x	as long as short
Extended SPCX-USD	+0.0096%	1h	152.68	−0.039%	$731K	$4.6M	10x	as long as short
Pacifica SPCXshort	+0.0100%	1h	152.66	−0.052%	$169K	$118K	10x
KuCoin SPCXUSDTM	+0.0100%	8h	152.61	−0.085%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.69	−0.033%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.75	+0.007%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.73	−0.007%	$89	—	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0112%	8h	152.74	0.000%	$39.6M	$166.9M	75x	as long as short
Bullet SPCX-USD	+0.0120%	1h	152.73	−0.007%	$11K	$193K	10x	as long as short
RISEx SPCX/USDC	+0.0238%	1h	152.76	+0.016%	$409K	$513K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0248%	1h	152.70	−0.026%	$731K	$938K	10x	as long as short
Phoenix SPCX	+0.0263%	1h	152.77	+0.020%	$444K	$266K	15x	as long as short
Aster SPCXUSD1	+0.0352%	8h	152.76	+0.016%	$18.9M	$24.8M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.00	+0.170%	$9K	$28K	5.5x	as long as short