Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0018%/8h= −2.0% APRpaid last 24h −0.002%

Price spread now: Variational Omni against tradeXYZ+0.002%7-day average +0.085% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on tradeXYZ Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.025%−$2 on $10k

Price spread, last 7 days+0.086%+$9 · spread now +0.002%, 7d avg +0.085%

Together, before fees+0.061%+ Points / potential airdroptradeXYZ: Active · Variational Omni: Active · farm board+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Variational Omni is 0.082% cheaper against tradeXYZ than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.085%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:SPCX	152.97	0.0189	pay 0.0024% / 1h	24m 54s	$142.1M	$119.4M	20x
Short	Variational Omni SPCX	152.97	0.0171	get 0.0171% / 8h	5h 24m	$6.0M	$3.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against tradeXYZ. 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 tradeXYZbpFee Variational OmnibpOrdersPrice spread, now +0.002%Rate

Funding earned: −$3.79
Price spread: +0.002% → +0.085%: −$8.22
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$30.01
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 4 min ago; Variational Omni: RFQ quote, 4 min ago. Net counts fees only.

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 tradeXYZ live order book, 4 min ago	0.33 bp	9.3 bp −$9	9.9 bp −$99	15.5 bp −$1,546	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	2.35 bp	doesn't fit	3.7 bp −$37	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 −0.0333% / S +0.0531%	1h	152.97	−0.003%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.97	0.000%	$96.1M	$31.3M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	153.03	+0.039%	$31.7M	$65.7M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.783%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.91	−0.039%	$302K	$3.0M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.22	+0.163%	$8K	$939K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.03	+0.039%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0026%	1h	152.97	0.000%	$8K	$8K	10x	as long as short
Bybit SPCXUSDT	+0.0028%	8h	152.99	+0.013%	$30.8M	$42.8M	100x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.93	−0.026%	$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
Lighter SPCX	+0.0040%	1h	152.96	−0.007%	$1.6M	$7.2M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.93	−0.026%	$105K	$297K	5x	as long as short
edgeX SPCXUSDC	+0.0041%	4h	152.97	+0.003%	$1.7M	$891K	20x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.97	0.000%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0048%	1h	152.98	+0.007%	$1.2M	$6.5M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.97	0.000%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.98	+0.007%	$1.7M	$93K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.96	−0.007%	$534K	$400K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.88	−0.059%	$3.2M	$2.5M	10x	as long as short
BloFin SPCX-USDT	+0.0066%	8h	153.00	+0.020%	$1.9M	$1.4M	75x	as long as short
Paradex SPCX-USD-PERP	+0.0073%	8h	153.02	+0.030%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.91	−0.039%	$169K	$129K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.87	−0.065%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.93	−0.026%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.03	+0.039%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.99	+0.015%	$89	—	10x	as long as short
Bullet SPCX-USD	+0.0156%	1h	153.00	+0.021%	$11K	$190K	10x	as long as short
Variational Omni SPCXshort	+0.0171%	8h	152.97	+0.002%	$6.0M	$3.1M	—
OKX SPCX-USDT-SWAP	+0.0177%	8h	153.01	+0.026%	$39.5M	$167.6M	75x	as long as short
Extended SPCX-USD	+0.0184%	1h	152.97	−0.003%	$734K	$3.8M	10x	as long as short
Binance SPCXUSDT	+0.0186%	8h	153.00	+0.021%	$252.4M	$1.37B	75x	as long as short
tradeXYZ xyz:SPCXlong	+0.0189%	1h	152.97	long leg	$142.1M	$119.4M	20x
RISEx SPCX/USDC	+0.0199%	1h	153.04	+0.044%	$408K	$549K	20x	as long as short
Nado SPCX-PERP	+0.0213%	1h	152.89	−0.052%	$622K	$830K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	153.01	+0.026%	$738K	$980K	10x	as long as short
Phoenix SPCX	+0.0262%	1h	153.02	+0.033%	$445K	$267K	15x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0273%	1h	152.97	0.000%	$73K	$1.2M	10x	as long as short
Aster SPCXUSD1	+0.0408%	8h	153.09	+0.078%	$19.0M	$17.2M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.28	+0.203%	$9K	$27K	5.5x	as long as short