Funding you earn now, next payment 23:00 UTC−0.0211%/8h= −23.1% APRnext payment −$0.26 per $10,000 · paid last 24h −0.025%
Price spread now: Polymarket Perps against Phoenix−0.007%59s7-day average −0.035% · 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−$270.270% of the position
Funding, last 7 days+0.021%+$2 on $10k
+Price spread, last 3 days (all we have)−0.028%−$3 · spread now −0.007%, 7d avg −0.035%
=The price spread pays, funding is against you. Polymarket Perps is 0.028% dearer against Phoenix than usual: you sell high and buy low (spread −0.007% now, against its 7-day average of −0.035%): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 11 hours. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.021% in total (about 1.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.26 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix SPCX | 152.96 | 0.0261 | pay 0.0033% / 1h | 37m 50s | $446K | $269K | 15x |
| Short | Polymarket Perps SPCX-USD | 152.95 | 0.0050 | get 0.0006% / 1h | 37m 50s | $490K | $1.1M | 10x |
Phoenix SPCX
Polymarket Perps SPCX-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$44.36
- Price spread: −0.007% → −0.035%
- $2.8
- Slippage, 4 orders
- −$11.98
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$68.54
- Costs to cover
- 0.270%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 39 min ago; Polymarket Perps: live order book, just now.
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 Phoenix live order book, 39 min ago | 0.33 bp | 7.8 bp −$8 | 25.9 bp −$259 | doesn't fit | doesn't fit |
| Sell Polymarket Perps live order book, just now | 1.31 bp | 5.9 bp −$6 | 7.8 bp −$78 | 9.9 bp −$995 | 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 −0.0272% / S +0.0488% | 1h | 152.96 | −0.003% | $89K | — | 20x | as long as short |
| Gate SPCX_USDT | 0.0000% | 8h | 152.96 | 0.000% | $96.6M | $31.3M | 100x | as long as short |
| GRVT SPCX_USDT_Perp | 0.0000% | 8h | 172.51 | +12.783% | $4K | $882 | 10x | as long as short |
| StandX SPCX-USD | 0.0000% | 1h | 152.89 | −0.046% | $302K | $3.1M | 20x | as long as short |
| SunX SPCX-USDT | 0.0000% | 8h | 153.19 | +0.150% | $8K | $971K | 10x | as long as short |
| HTX SPCX-USDT | 0.0000% | 8h | 152.98 | +0.013% | $1.3M | $1.7M | 75x | as long as short |
| Aftermath Perps SPCXUSD | +0.0030% | 1h | 152.96 | −0.003% | $8K | $10K | 10x | as long as short |
| Lighter RH SPCX | +0.0032% | 1h | 152.89 | −0.046% | $2.5M | $7.6M | 20x | as long as short |
| Injective SPCX/USDC PERP | +0.0033% | 1h | 157.25 | +2.805% | $9K | $27K | 5.5x | as long as short |
| Lighter SPCX | +0.0040% | 1h | 152.91 | −0.033% | $1.6M | $7.4M | 20x | as long as short |
GMX SPCX/USD [ETH-USDC]
Gate SPCX_USDT
GRVT SPCX_USDT_Perp
StandX SPCX-USD
SunX SPCX-USDT
HTX SPCX-USDT
Aftermath Perps SPCXUSD
Lighter RH SPCX
Injective SPCX/USDC PERP
Lighter SPCXShow all 39 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Arcus SPCX-USD | +0.0040% | 1h | 152.92 | −0.026% | $106K | $296K | 5x | as long as short |
| Vest SPCX-USD-PERP | +0.0046% | 1h | 152.92 | −0.026% | — | $1.2M | 10x | as long as short |
| Polymarket Perps SPCX-USDshort | +0.0050% | 1h | 152.95 | −0.007% | $490K | $1.1M | 10x | |
| SoDEX SPCX-USD | +0.0050% | 1h | 152.97 | +0.007% | $1.7M | $79K | 20x | as long as short |
| Phemex SPCXUSDT | +0.0050% | 8h | 152.98 | +0.013% | $538K | $405K | 50x | as long as short |
| Ondo Perps SPCX-USD.P | +0.0050% | 1h | 152.90 | −0.039% | $3.2M | $2.7M | 10x | as long as short |
| QFEX SPCX-USD | +0.0052% | 1h | 152.95 | −0.007% | $1.2M | $7.6M | 10x | as long as short |
| BloFin SPCX-USDT | +0.0073% | 8h | 152.99 | +0.020% | $1.9M | $1.4M | 75x | as long as short |
| Paradex SPCX-USD-PERP | +0.0079% | 8h | 152.98 | +0.014% | $101 | — | 5x | as long as short |
| Bullet SPCX-USD | +0.0097% | 1h | 152.98 | +0.013% | $11K | $188K | 10x | as long as short |
| Pacifica SPCX | +0.0100% | 1h | 152.90 | −0.039% | $173K | $130K | 10x | as long as short |
| KuCoin SPCXUSDTM | +0.0100% | 8h | 152.83 | −0.085% | $13.0M | $5.5M | 20x | as long as short |
| ApeX Omni SPCXUSDT | +0.0100% | 1h | 152.89 | −0.046% | $58K | $271K | 50x | as long as short |
| Orderly PERP_SPCX_USDC_mythos | +0.0100% | 8h | 152.98 | +0.013% | $15K | $7K | 10x | as long as short |
| Aevo SPCX-PERP | +0.0104% | 1h | 152.98 | +0.010% | $89 | — | 10x | as long as short |
| Bybit SPCXUSDT | +0.0142% | 8h | 153.01 | +0.033% | $30.8M | $42.7M | 100x | as long as short |
| Variational Omni SPCX | +0.0177% | 8h | 152.96 | −0.003% | $6.0M | $3.5M | — | as long as short |
| OKX SPCX-USDT-SWAP | +0.0190% | 8h | 153.00 | +0.026% | $39.0M | $169.4M | 75x | as long as short |
| Extended SPCX-USD | +0.0192% | 1h | 152.97 | +0.005% | $734K | $3.6M | 10x | as long as short |
| Binance SPCXUSDT | +0.0193% | 8h | 152.99 | +0.019% | $253.8M | $1.38B | 75x | as long as short |
| edgeX SPCXUSDC | +0.0248% | 4h | 152.95 | −0.008% | $1.7M | $892K | 20x | as long as short |
| tradeXYZ xyz:SPCX | +0.0254% | 1h | 152.94 | −0.013% | $143.6M | $118.5M | 20x | as long as short |
| Phoenix SPCXlong | +0.0261% | 1h | 152.96 | long leg | $446K | $269K | 15x | |
| Nado SPCX-PERP | +0.0274% | 1h | 152.86 | −0.068% | $602K | $884K | 20x | as long as short |
| Aster SPCXUSD1 | +0.0279% | 8h | 153.05 | +0.057% | $19.0M | $21.3M | 20x | as long as short |
| Coinbase International SPCX-PERP-INTX | +0.0280% | 1h | 152.97 | +0.007% | $733K | $970K | 10x | as long as short |
| Bitget SPCXUSDT | +0.0306% | 8h | 152.99 | +0.020% | $31.3M | $67.2M | 75x | as long as short |
| RISEx SPCX/USDC | +0.0339% | 1h | 153.02 | +0.042% | $403K | $538K | 20x | as long as short |
| Deribit SPCX_USDC-PERPETUAL | +0.0601% | 1h | 152.97 | +0.007% | $71K | $1.0M | 10x | as long as short |
Arcus SPCX-USD
Vest SPCX-USD-PERP
SoDEX SPCX-USD
Phemex SPCXUSDT
Ondo Perps SPCX-USD.P
QFEX SPCX-USD
BloFin SPCX-USDT
Paradex SPCX-USD-PERP
Bullet SPCX-USD
Pacifica SPCX
KuCoin SPCXUSDTM
ApeX Omni SPCXUSDT
Orderly PERP_SPCX_USDC_mythos
Aevo SPCX-PERP
Bybit SPCXUSDT
Variational Omni SPCX
OKX SPCX-USDT-SWAP
Extended SPCX-USD
Binance SPCXUSDT
edgeX SPCXUSDC
tradeXYZ xyz:SPCX
Nado SPCX-PERP
Aster SPCXUSD1
Coinbase International SPCX-PERP-INTX
Bitget SPCXUSDT
RISEx SPCX/USDC
Deribit SPCX_USDC-PERPETUAL