SPCX

Alert: funding

Alert: spread

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: Phoenix against Polymarket Perps+0.013%7-day average +0.035% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$260.258% of the position

Long on Polymarket Perps Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.021%−$2 on $10k

Price spread, last 3 days (all we have)+0.021%+$2 · spread now +0.013%, 7d avg +0.035%

Together, before fees0.000%$0 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.021% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread +0.013% now, against its 7-day average of +0.035%). If the spread goes back, that is −$2 on $10k: about 8 hours of funding at the current rate (+$6 a day).

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	Polymarket Perps SPCX-USD	152.94	0.0050	pay 0.0006% / 1h	38m 52s	$490K	$1.1M	10x
Short	Phoenix SPCX	152.96	0.0261	get 0.0033% / 1h	38m 52s	$446K	$269K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Polymarket Perps. 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 Polymarket PerpsbpFee PhoenixbpOrdersPrice spread, now +0.013%Rate

Funding earned: $44.36
Price spread: +0.013% → +0.035%: −$2.15
Slippage, 4 orders: −$10.81
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $16.41
Costs to cover: 0.258%
Break-even: 4.4 days

Slippage from Polymarket Perps: live order book, 4 min ago; Phoenix: live order book, 38 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 Polymarket Perps live order book, 4 min ago	1.96 bp	6.7 bp −$7	7.8 bp −$78	9.2 bp −$922	doesn't fit
Sell Phoenix live order book, 38 min ago	0.33 bp	5.3 bp −$5	18.0 bp −$180	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 −0.0272% / S +0.0488%	1h	152.96	+0.010%	$89K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.96	+0.013%	$96.6M	$31.3M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.51	+12.798%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.89	−0.033%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.19	+0.163%	$8K	$972K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.98	+0.026%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0030%	1h	152.96	+0.010%	$8K	$10K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.89	−0.033%	$2.5M	$7.6M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+2.818%	$9K	$27K	5.5x	as long as short
Lighter SPCX	+0.0040%	1h	152.90	−0.026%	$1.6M	$7.4M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus SPCX-USD	+0.0040%	1h	152.91	−0.020%	$106K	$296K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.94	0.000%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USDlong	+0.0050%	1h	152.94	long leg	$490K	$1.1M	10x
SoDEX SPCX-USD	+0.0050%	1h	152.97	+0.020%	$1.7M	$79K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.97	+0.020%	$538K	$405K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.89	−0.033%	$3.2M	$2.7M	10x	as long as short
QFEX SPCX-USD	+0.0052%	1h	152.94	0.000%	$1.2M	$7.6M	10x	as long as short
BloFin SPCX-USDT	+0.0073%	8h	152.99	+0.033%	$1.9M	$1.4M	75x	as long as short
Paradex SPCX-USD-PERP	+0.0077%	8h	152.97	+0.021%	$101	—	5x	as long as short
Bullet SPCX-USD	+0.0092%	1h	152.97	+0.020%	$11K	$188K	10x	as long as short
Pacifica SPCX	+0.0100%	1h	152.88	−0.039%	$173K	$130K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.84	−0.065%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.89	−0.033%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.97	+0.020%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.97	+0.017%	$89	—	10x	as long as short
Bybit SPCXUSDT	+0.0141%	8h	153.01	+0.046%	$30.8M	$42.7M	100x	as long as short
Variational Omni SPCX	+0.0177%	8h	152.96	+0.010%	$6.0M	$3.5M	—	as long as short
OKX SPCX-USDT-SWAP	+0.0189%	8h	153.00	+0.039%	$39.0M	$169.4M	75x	as long as short
Extended SPCX-USD	+0.0192%	1h	152.96	+0.016%	$734K	$3.6M	10x	as long as short
Binance SPCXUSDT	+0.0193%	8h	152.99	+0.033%	$253.9M	$1.38B	75x	as long as short
edgeX SPCXUSDC	+0.0248%	4h	152.95	+0.005%	$1.7M	$892K	20x	as long as short
tradeXYZ xyz:SPCX	+0.0252%	1h	152.94	0.000%	$143.6M	$118.4M	20x	as long as short
Phoenix SPCXshort	+0.0261%	1h	152.96	+0.013%	$446K	$269K	15x
Nado SPCX-PERP	+0.0270%	1h	152.86	−0.054%	$602K	$884K	20x	as long as short
Aster SPCXUSD1	+0.0278%	8h	153.04	+0.068%	$19.0M	$21.3M	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0280%	1h	152.97	+0.020%	$733K	$970K	10x	as long as short
Bitget SPCXUSDT	+0.0305%	8h	153.00	+0.039%	$31.3M	$67.2M	75x	as long as short
RISEx SPCX/USDC	+0.0339%	1h	153.03	+0.056%	$403K	$538K	20x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0404%	1h	152.94	0.000%	$71K	$1.0M	10x	as long as short