Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0161%/8h= −17.6% APRpaid last 24h −0.004%

Price spread now: Ondo Perps against Variational Omni−0.112%51s7-day average −0.062% · you buy dearer than you sell

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

Long on Variational Omni Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.047%+$5 on $10k

Price spread, last 7 days−0.010%−$1 · spread now −0.112%, 7d avg −0.062%

Together, before fees+0.037%+ Points / potential airdropVariational Omni: Active · Ondo Perps: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Ondo Perps is 0.050% cheaper against Variational Omni than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.062%). Swap the legs. The two prices were read 51 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	Variational Omni SPCX	152.99	0.0211	pay 0.0211% / 8h	6h 39m	$6.0M	$3.3M	—
Short	Ondo Perps SPCX-USD.P	152.82	0.0050	get 0.0006% / 1h	39m 55s	$3.2M	$2.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now −0.112%Rate

Funding earned: −$33.78
Price spread: −0.112% → −0.062%: −$4.95
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$43.73
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Ondo Perps: no order-book sample. 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	2.32 bp	doesn't fit	4.3 bp −$43	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0344% / S +0.0539%	1h	152.94	−0.037%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.93	−0.040%	$96.2M	$31.2M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.767%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.94	−0.034%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.26	+0.176%	$8K	$949K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.95	−0.027%	$1.3M	$1.7M	75x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0012%	1h	152.91	−0.053%	$72K	$1.1M	10x	as long as short
Aftermath Perps SPCXUSD	+0.0024%	1h	152.95	−0.029%	$7K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.90	−0.060%	$1.6M	$7.2M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.88	−0.073%	$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
Injective SPCX/USDC PERP	+0.0033%	1h	153.32	+0.215%	$9K	$27K	5.5x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.94	−0.034%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.00	+0.006%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0049%	1h	152.96	−0.020%	$1.2M	$6.9M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.93	−0.040%	$500K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.92	−0.047%	$1.7M	$89K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.96	−0.020%	$534K	$406K	50x	as long as short
Ondo Perps SPCX-USD.Pshort	+0.0050%	1h	152.82	−0.112%	$3.2M	$2.6M	10x
Bybit SPCXUSDT	+0.0061%	8h	152.95	−0.027%	$30.9M	$42.9M	100x	as long as short
Paradex SPCX-USD-PERP	+0.0081%	8h	152.98	−0.008%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.89	−0.066%	$169K	$133K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.89	−0.066%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.05	+0.038%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.95	−0.027%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.96	−0.023%	$89	—	10x	as long as short
BloFin SPCX-USDT	+0.0116%	8h	153.03	+0.025%	$1.9M	$1.4M	75x	as long as short
Bullet SPCX-USD	+0.0128%	1h	152.97	−0.014%	$11K	$190K	10x	as long as short
tradeXYZ xyz:SPCX	+0.0142%	1h	152.91	−0.053%	$142.3M	$119.8M	20x	as long as short
OKX SPCX-USDT-SWAP	+0.0196%	8h	152.95	−0.027%	$39.4M	$168.9M	75x	as long as short
Bitget SPCXUSDT	+0.0201%	8h	152.97	−0.014%	$31.8M	$66.5M	75x	as long as short
Variational Omni SPCXlong	+0.0211%	8h	152.99	long leg	$6.0M	$3.3M	—
Extended SPCX-USD	+0.0224%	1h	152.90	−0.056%	$736K	$3.8M	10x	as long as short
Binance SPCXUSDT	+0.0225%	8h	152.94	−0.030%	$252.7M	$1.37B	75x	as long as short
Nado SPCX-PERP	+0.0247%	1h	152.91	−0.055%	$620K	$841K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0288%	1h	153.14	+0.097%	$728K	$977K	10x	as long as short
Phoenix SPCX	+0.0314%	1h	152.98	−0.007%	$445K	$270K	15x	as long as short
Aster SPCXUSD1	+0.0391%	8h	153.03	+0.028%	$19.0M	$16.9M	20x	as long as short
RISEx SPCX/USDC	+0.0410%	1h	153.00	+0.009%	$408K	$539K	20x	as long as short
edgeX SPCXUSDC	+0.0591%	4h	153.01	+0.013%	$1.7M	$892K	20x	as long as short