Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0072%/8h= −7.9% APRpaid last 24h −0.005%

Price spread now: Lighter against Variational Omni−0.023%7-day average −0.042% · you buy dearer than you sell

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.020%+$2 on $10k

Price spread, last 7 days−0.022%−$2 · spread now −0.023%, 7d avg −0.042%

Together, before fees−0.002%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.042%, 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	Variational Omni SPCX	152.31	0.0104	pay 0.0104% / 8h	5m 02s	$5.9M	$2.8M	—
Short	Lighter SPCX	152.28	0.0032	get 0.0004% / 1h	5m 02s	$1.6M	$7.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. 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 Variational OmnibpFee LighterbpOrdersPrice spread, now −0.023%Rate

Funding earned: −$15.16
Price spread: −0.023% → −0.042%: $1.96
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$13.2
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Lighter: live order book, 3 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 Variational Omni RFQ quote, 4 min ago	2.36 bp	doesn't fit	3.3 bp −$33	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	0.33 bp	1.0 bp −$1	2.1 bp −$21	9.6 bp −$957	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 −0.0187% / S +0.0435%	1h	152.25	−0.046%	$90K	—	20x	as long as short
BloFin SPCX-USDT	0.0000%	8h	152.36	+0.030%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.35	+0.023%	$30.5M	$42.8M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.32	+0.004%	$96.3M	$32.0M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.33	+0.010%	$31.2M	$66.2M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+13.266%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.35	+0.023%	$300K	$2.6M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.57	+0.168%	$8K	$888K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	0.0000%	1h	152.29	−0.016%	$90K	$1.4M	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.38	+0.043%	$1.3M	$1.8M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps SPCXUSD	+0.0022%	1h	152.24	−0.049%	$7K	$8K	10x	as long as short
Lighter SPCXshort	+0.0032%	1h	152.28	−0.023%	$1.6M	$7.4M	20x
Lighter RH SPCX	+0.0032%	1h	152.27	−0.029%	$2.5M	$7.3M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.24	−0.049%	$102K	$298K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.33	+0.010%	—	$1.2M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.24	−0.049%	$129.7M	$129.3M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.28	−0.023%	$488K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.31	−0.003%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.31	−0.003%	$530K	$370K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.19	−0.082%	$3.2M	$2.2M	10x	as long as short
QFEX SPCX-USD	+0.0070%	1h	152.31	−0.003%	$1.2M	$5.5M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0073%	8h	152.32	+0.004%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.24	−0.049%	$168K	$119K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.19	−0.082%	$13.0M	$5.6M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.25	−0.042%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.34	+0.017%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.34	+0.015%	$88	—	10x	as long as short
Variational Omni SPCXlong	+0.0104%	8h	152.31	long leg	$5.9M	$2.8M	—
Bullet SPCX-USD	+0.0117%	1h	152.34	+0.017%	$11K	$192K	10x	as long as short
Binance SPCXUSDT	+0.0120%	8h	152.35	+0.021%	$253.3M	$1.36B	75x	as long as short
Extended SPCX-USD	+0.0120%	1h	152.31	−0.001%	$724K	$5.3M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0135%	8h	152.34	+0.017%	$39.7M	$166.7M	75x	as long as short
Nado SPCX-PERP	+0.0151%	1h	152.28	−0.025%	$631K	$804K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0240%	1h	152.34	+0.017%	$728K	$930K	10x	as long as short
Phoenix SPCX	+0.0368%	1h	152.31	−0.003%	$444K	$266K	15x	as long as short
Aster SPCXUSD1	+0.0388%	8h	152.43	+0.073%	$18.9M	$30.5M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.70	+0.253%	$9K	$28K	5.5x	as long as short
RISEx SPCX/USDC	+0.0445%	1h	152.37	+0.034%	$381K	$505K	20x	as long as short
edgeX SPCXUSDC	+0.0487%	4h	152.29	−0.013%	$1.7M	$890K	20x	as long as short