Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0140%/8h= +15.4% APRpaid last 24h +0.016%

Price spread now: tradeXYZ against SunX−0.202%52s7-day average −0.109% · you buy dearer than you sell

Net, funding: paid 7d − costs−$153as 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−$1501.504% of the position

Long on SunX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 3 days (all we have)+0.122%+$12 · spread now −0.202%, 7d avg −0.109%

Together, before fees+0.093%+ Points / potential airdroptradeXYZ: Active · farm board+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.094% cheaper against SunX than usual: you would sell low and buy high (spread −0.202% now, against its 7-day average of −0.109%). If the spread goes back, that is −$9 on $10k: about 2.2 days of funding at the current rate (+$4 a day). The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX SPCX-USDT	153.34	0	get 0.0000% / 8h	6h 59m	$8K	$951K	10x
Short	tradeXYZ xyz:SPCX	153.03	0.0140	get 0.0018% / 1h	59m 29s	$142.8M	$119.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.202%Rate

Funding earned: $29.49
Price spread: −0.202% → −0.109%: −$9.36
Slippage, 4 orders: −$124.43
Fee SunX: 4 bp × 2 orders: −$8
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$130.3
Costs to cover: 1.504%
Break-even: 37.9 days

Slippage from SunX: live order book, 53 min ago; tradeXYZ: 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 SunX live order book, 53 min ago	57.12 bp	61.1 bp −$61	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 10 min ago	0.33 bp	9.3 bp −$9	9.5 bp −$95	12.8 bp −$1,285	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 −0.0331% / S +0.0530%	1h	153.03	−0.205%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.03	−0.202%	$96.3M	$31.1M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.511%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.94	−0.261%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDTlong	0.0000%	8h	153.34	long leg	$8K	$951K	10x
HTX SPCX-USDT	0.0000%	8h	153.06	−0.183%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0025%	1h	153.01	−0.214%	$8K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	153.01	−0.215%	$1.6M	$7.2M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.98	−0.235%	$2.5M	$7.2M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+2.550%	$9K	$27K	5.5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SPCX-USD-PERP	+0.0046%	1h	153.05	−0.189%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0049%	1h	153.02	−0.209%	$1.2M	$7.1M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	153.03	−0.202%	$489K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.03	−0.202%	$1.7M	$87K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	153.05	−0.189%	$534K	$405K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.92	−0.274%	$3.2M	$2.6M	10x	as long as short
Bullet SPCX-USD	+0.0076%	1h	153.06	−0.183%	$11K	$189K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0077%	1h	153.00	−0.222%	$72K	$1.1M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0088%	8h	153.05	−0.187%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.95	−0.254%	$169K	$133K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.95	−0.254%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.94	−0.261%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.06	−0.183%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.05	−0.190%	$89	—	10x	as long as short
Bybit SPCXUSDT	+0.0118%	8h	153.06	−0.183%	$30.9M	$42.8M	100x	as long as short
BloFin SPCX-USDT	+0.0121%	8h	153.06	−0.183%	$1.9M	$1.4M	75x	as long as short
tradeXYZ xyz:SPCXshort	+0.0140%	1h	153.03	−0.202%	$142.8M	$119.5M	20x
Arcus SPCX-USD	+0.0194%	1h	153.00	−0.222%	$105K	$297K	5x	as long as short
OKX SPCX-USDT-SWAP	+0.0212%	8h	153.04	−0.196%	$39.3M	$168.7M	75x	as long as short
Variational Omni SPCX	+0.0226%	8h	153.02	−0.210%	$6.0M	$3.5M	—	as long as short
Nado SPCX-PERP	+0.0233%	1h	152.97	−0.243%	$620K	$849K	20x	as long as short
Extended SPCX-USD	+0.0240%	1h	153.01	−0.214%	$734K	$3.8M	10x	as long as short
Binance SPCXUSDT	+0.0241%	8h	153.06	−0.183%	$252.6M	$1.37B	75x	as long as short
Bitget SPCXUSDT	+0.0274%	8h	153.08	−0.170%	$31.7M	$66.5M	75x	as long as short
Phoenix SPCX	+0.0314%	1h	153.06	−0.183%	$445K	$270K	15x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0328%	1h	153.14	−0.130%	$728K	$986K	10x	as long as short
Aster SPCXUSD1	+0.0390%	8h	153.14	−0.128%	$19.0M	$18.0M	20x	as long as short
RISEx SPCX/USDC	+0.0410%	1h	153.09	−0.160%	$401K	$535K	20x	as long as short
edgeX SPCXUSDC	+0.0877%	4h	153.03	−0.199%	$1.7M	$894K	20x	as long as short