Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0387%/8h= −42.3% APRpaid last 24h −0.022%

Price spread now: Lighter RH against Aster−0.103%7-day average −0.073% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$130.127% of the position

Long on Aster Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 7 days+0.012%+$1 · spread now −0.103%, 7d avg −0.073%

Together, before fees+0.007%+ Points / potential airdropAster: Stage 5 · Lighter RH: Points live · farm board+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Lighter RH is 0.030% cheaper against Aster than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.073%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.006% in total (about -0.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SPCXUSD1	152.47	0.0419	pay 0.0419% / 8h	3h 18m	$18.9M	$24.0M	20x
Short	Lighter RH SPCX	152.31	0.0032	get 0.0004% / 1h	18m 38s	$2.5M	$7.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Aster. 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 AsterbpFee Lighter RHbpOrdersPrice spread, now −0.103%Rate

Funding earned: −$81.21
Price spread: −0.103% → −0.073%: −$3.03
Slippage, 4 orders: −$4.68
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$96.91
Costs to cover: 0.127%
Break-even: never at this rate

Slippage from Aster: live order book, 5 min ago; Lighter RH: live order book, 5 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 Aster live order book, 5 min ago	0.33 bp	4.3 bp −$4	7.6 bp −$76	doesn't fit	doesn't fit
Sell Lighter RH live order book, 5 min ago	1.31 bp	1.3 bp −$1	3.9 bp −$39	36.8 bp −$3,680	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 −0.0265% / S +0.0494%	1h	152.28	−0.120%	$90K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.37	−0.064%	$96.2M	$31.5M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.44	−0.018%	$31.3M	$65.9M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+13.157%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.45	−0.011%	$300K	$2.9M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.70	+0.153%	$8K	$920K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.46	−0.005%	$1.3M	$1.8M	75x	as long as short
Bybit SPCXUSDT	+0.0015%	8h	152.40	−0.044%	$30.6M	$42.7M	100x	as long as short
BloFin SPCX-USDT	+0.0024%	8h	152.43	−0.024%	$1.9M	$1.3M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0031%	1h	152.37	−0.066%	$7K	$8K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SPCXshort	+0.0032%	1h	152.31	−0.103%	$2.5M	$7.4M	20x
Arcus SPCX-USD	+0.0040%	1h	152.34	−0.084%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.40	−0.044%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.40	−0.044%	$493K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.38	−0.057%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.40	−0.044%	$531K	$392K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.22	−0.162%	$3.2M	$2.4M	10x	as long as short
QFEX SPCX-USD	+0.0050%	1h	152.42	−0.031%	$1.2M	$5.7M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0057%	8h	152.41	−0.038%	$101	—	5x	as long as short
Lighter SPCX	+0.0096%	1h	152.34	−0.084%	$1.6M	$7.4M	20x	as long as short
Pacifica SPCX	+0.0100%	1h	152.29	−0.116%	$168K	$120K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.32	−0.097%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.37	−0.064%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.41	−0.038%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.39	−0.051%	$88	—	10x	as long as short
tradeXYZ xyz:SPCX	+0.0131%	1h	152.28	−0.123%	$131.3M	$128.2M	20x	as long as short
Variational Omni SPCX	+0.0131%	8h	152.45	−0.012%	$6.0M	$2.9M	—	as long as short
Binance SPCXUSDT	+0.0144%	8h	152.40	−0.045%	$250.4M	$1.36B	75x	as long as short
Extended SPCX-USD	+0.0144%	1h	152.35	−0.075%	$736K	$3.9M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0146%	8h	152.40	−0.044%	$39.4M	$166.3M	75x	as long as short
Nado SPCX-PERP	+0.0210%	1h	152.28	−0.122%	$613K	$802K	20x	as long as short
RISEx SPCX/USDC	+0.0217%	1h	152.41	−0.036%	$408K	$517K	20x	as long as short
Bullet SPCX-USD	+0.0219%	1h	152.42	−0.031%	$11K	$192K	10x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0248%	1h	152.44	−0.018%	$739K	$931K	10x	as long as short
Phoenix SPCX	+0.0261%	1h	152.41	−0.038%	$443K	$264K	15x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0341%	1h	152.39	−0.051%	$86K	$1.2M	10x	as long as short
Aster SPCXUSD1long	+0.0419%	8h	152.47	long leg	$18.9M	$24.0M	20x
Injective SPCX/USDC PERP	+0.0440%	1h	153.19	+0.474%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0459%	4h	152.44	−0.017%	$1.7M	$892K	20x	as long as short