Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: Phemex against ApeX Omni−0.026%7-day average −0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$860.861% of the position

Long on ApeX Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.254%−$25 on $10k

Price spread, last 4 days (all we have)−0.067%−$7 · spread now −0.026%, 7d avg −0.057%

Together, before fees−0.321%−$32 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.031% dearer against ApeX Omni than usual: you sell high and buy low (spread −0.026% now, against its 7-day average of −0.057%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.1 days. At the pace of the last 7 days (−0.254% in total) that is about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni SPCXUSDT	152.33	0.0100	pay 0.0013% / 1h	8m 43s	$58K	$272K	50x
Short	Phemex SPCXUSDT	152.29	0.0050	get 0.0050% / 8h	8m 43s	$529K	$370K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against ApeX 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 ApeX OmnibpFee PhemexbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$10.5
Price spread: −0.026% → −0.057%: $3.08
Slippage, 4 orders: −$64.07
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$93.49
Costs to cover: 0.861%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 28 min ago; Phemex: live order book, 29 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 ApeX Omni live order book, 28 min ago	10.17 bp	17.5 bp −$17	58.7 bp −$587	doesn't fit	doesn't fit
Sell Phemex live order book, 29 min ago	0.33 bp	13.8 bp −$14	doesn't fit	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 −0.0187% / S +0.0435%	1h	152.24	−0.062%	$90K	—	20x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.31	−0.013%	$30.5M	$42.8M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.30	−0.020%	$96.3M	$32.0M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.32	−0.007%	$31.2M	$66.2M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+13.255%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.33	0.000%	$300K	$2.6M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.57	+0.158%	$8K	$889K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.35	+0.013%	$1.3M	$1.8M	75x	as long as short
BloFin SPCX-USDT	+0.0003%	8h	152.32	−0.007%	$1.9M	$1.2M	75x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0013%	1h	152.29	−0.026%	$89K	$1.4M	10x	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	+0.0023%	1h	152.25	−0.054%	$7K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.25	−0.053%	$1.6M	$7.4M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.23	−0.066%	$2.5M	$7.3M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.24	−0.059%	$102K	$298K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.32	−0.007%	—	$1.2M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.22	−0.072%	$129.7M	$129.3M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.27	−0.039%	$488K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.27	−0.039%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDTshort	+0.0050%	8h	152.29	−0.026%	$529K	$370K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.15	−0.118%	$3.2M	$2.2M	10x	as long as short
QFEX SPCX-USD	+0.0070%	1h	152.28	−0.033%	$1.2M	$5.4M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0075%	8h	152.28	−0.032%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.21	−0.079%	$168K	$119K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.16	−0.112%	$12.9M	$5.6M	20x	as long as short
ApeX Omni SPCXUSDTlong	+0.0100%	1h	152.33	long leg	$58K	$272K	50x
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.34	+0.007%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.32	−0.008%	$88	—	10x	as long as short
Variational Omni SPCX	+0.0111%	8h	152.30	−0.022%	$5.9M	$2.8M	—	as long as short
Extended SPCX-USD	+0.0120%	1h	152.27	−0.037%	$724K	$5.3M	10x	as long as short
Binance SPCXUSDT	+0.0122%	8h	152.30	−0.021%	$253.2M	$1.36B	75x	as long as short
Bullet SPCX-USD	+0.0123%	1h	152.32	−0.007%	$11K	$192K	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0138%	8h	152.31	−0.013%	$39.6M	$166.7M	75x	as long as short
Nado SPCX-PERP	+0.0154%	1h	152.27	−0.041%	$631K	$804K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0240%	1h	152.34	+0.007%	$728K	$930K	10x	as long as short
Phoenix SPCX	+0.0368%	1h	152.30	−0.020%	$444K	$266K	15x	as long as short
Aster SPCXUSD1	+0.0391%	8h	152.41	+0.052%	$18.9M	$30.2M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.58	+0.164%	$9K	$28K	5.5x	as long as short
RISEx SPCX/USDC	+0.0445%	1h	152.35	+0.016%	$381K	$505K	20x	as long as short
edgeX SPCXUSDC	+0.0590%	4h	152.29	−0.024%	$1.7M	$889K	20x	as long as short