Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0054%/8h= +5.9% APRpaid last 24h +0.019%

Price spread now: KuCoin against QFEX−0.026%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$400.396% of the position

Long on QFEX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.054%+$5 on $10k

Price spread, last 7 days−0.030%−$3 · spread now −0.026%, 7d avg −0.011%

Together, before fees+0.024%+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.011%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SPCX-USD	153.00	0.0046	pay 0.0006% / 1h	8m 23s	$1.2M	$6.0M	10x
Short	KuCoin SPCXUSDTM	152.96	0.0100	get 0.0100% / 8h	4h 08m	$13.0M	$5.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against QFEX. 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 QFEXbpFee KuCoinbpOrdersPrice spread, now −0.026%Rate

Funding earned: $11.37
Price spread: −0.026% → −0.011%: −$1.52
Slippage, 4 orders: −$17.64
Fee QFEX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$29.79
Costs to cover: 0.396%
Break-even: 25.3 days

Slippage from QFEX: live order book, 5 min ago; KuCoin: live order book, 10 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 QFEX live order book, 5 min ago	1.63 bp	6.6 bp −$7	10.4 bp −$104	doesn't fit	doesn't fit
Sell KuCoin live order book, 10 min ago	0.98 bp	14.8 bp −$15	40.2 bp −$402	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 −0.0253% / S +0.0486%	1h	153.01	+0.010%	$91K	—	20x	as long as short
Bybit SPCXUSDT	0.0000%	8h	153.06	+0.039%	$30.8M	$42.9M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.05	+0.033%	$96.4M	$31.4M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	153.12	+0.078%	$31.7M	$65.3M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.763%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	153.02	+0.013%	$302K	$2.9M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.37	+0.242%	$7K	$940K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.14	+0.092%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0022%	1h	153.04	+0.024%	$8K	$8K	10x	as long as short
BloFin SPCX-USDT	+0.0023%	8h	153.12	+0.078%	$1.9M	$1.4M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SPCX	+0.0032%	1h	153.02	+0.013%	$1.6M	$7.4M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	153.00	0.000%	$2.5M	$7.3M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	153.01	+0.007%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.03	+0.020%	—	$1.2M	10x	as long as short
QFEX SPCX-USDlong	+0.0046%	1h	153.00	long leg	$1.2M	$6.0M	10x
Polymarket Perps SPCX-USD	+0.0050%	1h	152.97	−0.020%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.07	+0.046%	$1.7M	$95K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	153.11	+0.072%	$533K	$392K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.93	−0.046%	$3.2M	$2.5M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0060%	8h	153.04	+0.028%	$101	—	5x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0077%	1h	153.05	+0.033%	$78K	$1.2M	10x	as long as short
Pacifica SPCX	+0.0100%	1h	152.98	−0.013%	$169K	$129K	10x	as long as short
KuCoin SPCXUSDTMshort	+0.0100%	8h	152.96	−0.026%	$13.0M	$5.4M	20x
ApeX Omni SPCXUSDT	+0.0100%	1h	153.01	+0.007%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.10	+0.065%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.10	+0.065%	$89	—	10x	as long as short
tradeXYZ xyz:SPCX	+0.0110%	1h	152.98	−0.013%	$141.4M	$119.0M	20x	as long as short
Bullet SPCX-USD	+0.0121%	1h	153.07	+0.049%	$11K	$191K	10x	as long as short
Variational Omni SPCX	+0.0129%	8h	153.07	+0.044%	$6.0M	$3.0M	—	as long as short
Nado SPCX-PERP	+0.0136%	1h	152.94	−0.037%	$617K	$818K	20x	as long as short
Binance SPCXUSDT	+0.0142%	8h	153.04	+0.028%	$248.2M	$1.36B	75x	as long as short
Extended SPCX-USD	+0.0144%	1h	153.00	−0.002%	$734K	$3.8M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0146%	8h	153.09	+0.059%	$39.5M	$166.7M	75x	as long as short
RISEx SPCX/USDC	+0.0191%	1h	153.07	+0.044%	$410K	$525K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	153.10	+0.065%	$738K	$926K	10x	as long as short
Phoenix SPCX	+0.0261%	1h	153.09	+0.059%	$445K	$268K	15x	as long as short
Aster SPCXUSD1	+0.0405%	8h	153.15	+0.095%	$19.0M	$21.4M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.50	+0.327%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0619%	4h	153.07	+0.044%	$1.7M	$891K	20x	as long as short