Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0245%/8h= +26.8% APRpaid last 24h +0.049%

Price spread now: Nado against SunX−0.220%7-day average −0.081% · 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−$87as in the Price arb table

costs, in and out, $10k−$730.734% of the position

Long on SunX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.078%+$8 on $10k

Price spread, last 4 days (all we have)+0.136%+$14 · spread now −0.220%, 7d avg −0.081%

Together, before fees+0.214%+ Points / potential airdropNado: Active · farm board+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.140% cheaper against SunX than usual: you would sell low and buy high (spread −0.220% now, against its 7-day average of −0.081%). If the spread goes back, that is −$14 on $10k: about 46 hours of funding at the current rate (+$7 a day). At the pace of the last 3 days (+0.078% in total) that is about 6.0 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.078% in total (about 8.4% a year). A funding rate is set anew for every payment. 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	SunX SPCX-USDT	153.12	0	get 0.0000% / 8h	3h 44m	$8K	$934K	10x
Short	Nado SPCX-PERP	152.78	0.0245	get 0.0031% / 1h	44m 32s	$615K	$810K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against SunX. 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 SunXbpFee NadobpOrdersPrice spread, now −0.220%Rate

Funding earned: $51.48
Price spread: −0.220% → −0.081%: −$13.96
Slippage, 4 orders: −$58.4
Fee SunX: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$35.89
Costs to cover: 0.734%
Break-even: 11.9 days

Slippage from SunX: live order book, 38 min ago; Nado: live order book, 9 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 SunX live order book, 38 min ago	21.86 bp	25.9 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 9 min ago	0.33 bp	7.5 bp −$8	17.5 bp −$175	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 −0.0214% / S +0.0456%	1h	152.84	−0.180%	$90K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.87	−0.163%	$96.3M	$31.2M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.92	−0.131%	$31.8M	$65.3M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.675%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.96	−0.104%	$301K	$2.9M	20x	as long as short
SunX SPCX-USDTlong	0.0000%	8h	153.12	long leg	$8K	$934K	10x
HTX SPCX-USDT	0.0000%	8h	152.98	−0.091%	$1.3M	$1.7M	75x	as long as short
Bybit SPCXUSDT	+0.0012%	8h	152.90	−0.144%	$30.7M	$42.6M	100x	as long as short
Aftermath Perps SPCXUSD	+0.0031%	1h	152.86	−0.168%	$7K	$8K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.81	−0.202%	$2.5M	$7.2M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin SPCX-USDT	+0.0035%	8h	152.90	−0.144%	$1.9M	$1.3M	75x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.82	−0.196%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.87	−0.163%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.85	−0.176%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.86	−0.170%	$1.7M	$96K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.87	−0.163%	$532K	$391K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.79	−0.216%	$3.2M	$2.4M	10x	as long as short
QFEX SPCX-USD	+0.0050%	1h	152.88	−0.157%	$1.2M	$5.8M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0097%	8h	152.90	−0.145%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.79	−0.216%	$169K	$121K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.81	−0.202%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.96	−0.104%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.90	−0.144%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.90	−0.141%	$89	—	10x	as long as short
Lighter SPCX	+0.0136%	1h	152.83	−0.189%	$1.6M	$7.3M	20x	as long as short
Variational Omni SPCX	+0.0141%	8h	152.91	−0.138%	$6.0M	$2.9M	—	as long as short
Extended SPCX-USD	+0.0152%	1h	152.85	−0.178%	$738K	$3.8M	10x	as long as short
Binance SPCXUSDT	+0.0155%	8h	152.89	−0.150%	$248.5M	$1.36B	75x	as long as short
OKX SPCX-USDT-SWAP	+0.0156%	8h	152.91	−0.137%	$39.6M	$166.1M	75x	as long as short
edgeX SPCXUSDC	+0.0206%	4h	152.89	−0.149%	$1.7M	$893K	20x	as long as short
RISEx SPCX/USDC	+0.0217%	1h	152.94	−0.121%	$409K	$517K	20x	as long as short
Nado SPCX-PERPshort	+0.0245%	1h	152.78	−0.220%	$615K	$810K	20x
Coinbase International SPCX-PERP-INTX	+0.0248%	1h	152.90	−0.144%	$741K	$939K	10x	as long as short
Phoenix SPCX	+0.0261%	1h	152.93	−0.124%	$445K	$264K	15x	as long as short
Bullet SPCX-USD	+0.0273%	1h	152.90	−0.144%	$12K	$192K	10x	as long as short
tradeXYZ xyz:SPCX	+0.0278%	1h	152.85	−0.176%	$141.3M	$119.2M	20x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0405%	1h	152.87	−0.163%	$84K	$1.2M	10x	as long as short
Aster SPCXUSD1	+0.0429%	8h	153.00	−0.076%	$19.0M	$22.4M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.24	+0.078%	$9K	$28K	5.5x	as long as short