Funding you earn now, next payment 01:00 UTC+0.0250%/8h= +27.3% APRpaid last 24h +0.008%
Price spread now: Phoenix against Bitget−0.039%99s7-day average +0.001% · you buy dearer than you sell
Net, funding: paid 7d − costs−$26as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$260.262% of the position
Funding, last 7 days+0.001%$0 on $10k
+Price spread, last 4 days (all we have)+0.965%+$97 · spread now −0.039%, 7d avg +0.001%
=Funding pays, the price is against you. Phoenix is 0.041% cheaper against Bitget than usual: you would sell low and buy high (spread −0.039% now, against its 7-day average of +0.001%). If the spread goes back, that is −$4 on $10k: about 13 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.001% in total) that is about 11 months. The two prices were read 99 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.001% in total (about 0.0% 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 | Bitget SPCXUSDT | 153.04 | 0.0064 | pay 0.0064% / 8h | 5h 55m | $31.7M | $66.1M | 75x |
| Short | Phoenix SPCX | 152.98 | 0.0314 | get 0.0039% / 1h | 55m 43s | $445K | $267K | 15x |
Bitget SPCXUSDT
Phoenix SPCXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bitget. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $52.42
- Price spread: −0.039% → +0.001%
- −$4.05
- Slippage, 4 orders
- −$7.22
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $22.14
- Costs to cover
- 0.262%
- Break-even
- 4.0 days
Slippage from Bitget: live order book, 3 min ago; Phoenix: live order book, 6 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 Bitget live order book, 3 min ago | 0.65 bp | 6.7 bp −$7 | 8.1 bp −$81 | 24.1 bp −$2,407 | 36.0 bp −$18.0K |
| Sell Phoenix live order book, 6 min ago | 0.33 bp | 4.8 bp −$5 | 14.9 bp −$149 | doesn't fit | doesn't fit |
SPCX on 38 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 | −0.042% | $88K | — | 20x | as long as short |
| Gate SPCX_USDT | 0.0000% | 8h | 152.97 | −0.046% | $96.0M | $31.2M | 100x | as long as short |
| GRVT SPCX_USDT_Perp | 0.0000% | 8h | 172.52 | +12.732% | $4K | $882 | 10x | as long as short |
| StandX SPCX-USD | 0.0000% | 1h | 152.89 | −0.098% | $302K | $3.0M | 20x | as long as short |
| SunX SPCX-USDT | 0.0000% | 8h | 153.27 | +0.150% | $8K | $941K | 10x | as long as short |
| HTX SPCX-USDT | 0.0000% | 8h | 152.98 | −0.039% | $1.3M | $1.7M | 75x | as long as short |
| Aftermath Perps SPCXUSD | +0.0025% | 1h | 152.95 | −0.060% | $7K | $8K | 10x | as long as short |
| Lighter RH SPCX | +0.0032% | 1h | 152.91 | −0.085% | $2.5M | $7.2M | 20x | as long as short |
| Arcus SPCX-USD | +0.0040% | 1h | 152.92 | −0.078% | $105K | $297K | 5x | as long as short |
| Vest SPCX-USD-PERP | +0.0046% | 1h | 152.97 | −0.046% | — | $1.2M | 10x | as long as short |
GMX SPCX/USD [ETH-USDC]
Gate SPCX_USDT
GRVT SPCX_USDT_Perp
StandX SPCX-USD
SunX SPCX-USDT
HTX SPCX-USDT
Aftermath Perps SPCXUSD
Lighter RH SPCX
Arcus SPCX-USD
Vest SPCX-USD-PERPShow all 38 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| QFEX SPCX-USD | +0.0048% | 1h | 152.96 | −0.052% | $1.2M | $6.6M | 10x | as long as short |
| Polymarket Perps SPCX-USD | +0.0050% | 1h | 152.94 | −0.065% | $499K | $1.2M | 10x | as long as short |
| SoDEX SPCX-USD | +0.0050% | 1h | 152.98 | −0.039% | $1.7M | $91K | 20x | as long as short |
| Phemex SPCXUSDT | +0.0050% | 8h | 152.99 | −0.033% | $535K | $405K | 50x | as long as short |
| Ondo Perps SPCX-USD.P | +0.0050% | 1h | 152.86 | −0.118% | $3.2M | $2.5M | 10x | as long as short |
| Lighter SPCX | +0.0056% | 1h | 152.93 | −0.072% | $1.6M | $7.2M | 20x | as long as short |
| Bybit SPCXUSDT | +0.0056% | 8h | 153.01 | −0.020% | $30.8M | $42.8M | 100x | as long as short |
| Bitget SPCXUSDTlong | +0.0064% | 8h | 153.04 | long leg | $31.7M | $66.1M | 75x | |
| Paradex SPCX-USD-PERP | +0.0079% | 8h | 153.00 | −0.023% | $101 | — | 5x | as long as short |
| Pacifica SPCX | +0.0100% | 1h | 152.87 | −0.111% | $169K | $129K | 10x | as long as short |
| KuCoin SPCXUSDTM | +0.0100% | 8h | 152.91 | −0.085% | $13.0M | $5.5M | 20x | as long as short |
| ApeX Omni SPCXUSDT | +0.0100% | 1h | 153.01 | −0.020% | $58K | $272K | 50x | as long as short |
| Orderly PERP_SPCX_USDC_mythos | +0.0100% | 8h | 153.01 | −0.020% | $15K | $7K | 10x | as long as short |
| Aevo SPCX-PERP | +0.0104% | 1h | 152.99 | −0.030% | $89 | — | 10x | as long as short |
| Bullet SPCX-USD | +0.0170% | 1h | 153.00 | −0.027% | $11K | $189K | 10x | as long as short |
| OKX SPCX-USDT-SWAP | +0.0188% | 8h | 153.02 | −0.013% | $39.5M | $168.0M | 75x | as long as short |
| Variational Omni SPCX | +0.0194% | 8h | 152.98 | −0.039% | $6.0M | $3.1M | — | as long as short |
| RISEx SPCX/USDC | +0.0199% | 1h | 153.03 | −0.010% | $408K | $549K | 20x | as long as short |
| Binance SPCXUSDT | +0.0206% | 8h | 153.00 | −0.025% | $252.6M | $1.37B | 75x | as long as short |
| Deribit SPCX_USDC-PERPETUAL | +0.0208% | 1h | 152.95 | −0.059% | $72K | $1.2M | 10x | as long as short |
| Extended SPCX-USD | +0.0208% | 1h | 152.96 | −0.052% | $736K | $3.8M | 10x | as long as short |
| Nado SPCX-PERP | +0.0219% | 1h | 152.89 | −0.100% | $622K | $834K | 20x | as long as short |
| tradeXYZ xyz:SPCX | +0.0241% | 1h | 152.97 | −0.046% | $142.1M | $119.3M | 20x | as long as short |
| Coinbase International SPCX-PERP-INTX | +0.0256% | 1h | 152.97 | −0.046% | $738K | $972K | 10x | as long as short |
| Phoenix SPCXshort | +0.0314% | 1h | 152.98 | −0.039% | $445K | $267K | 15x | |
| Aster SPCXUSD1 | +0.0410% | 8h | 153.08 | +0.025% | $19.0M | $15.3M | 20x | as long as short |
| Injective SPCX/USDC PERP | +0.0440% | 1h | 153.29 | +0.163% | $9K | $27K | 5.5x | as long as short |
| edgeX SPCXUSDC | +0.0798% | 4h | 152.97 | −0.047% | $1.7M | $894K | 20x | as long as short |
QFEX SPCX-USD
Polymarket Perps SPCX-USD
SoDEX SPCX-USD
Phemex SPCXUSDT
Ondo Perps SPCX-USD.P
Lighter SPCX
Bybit SPCXUSDT
Paradex SPCX-USD-PERP
Pacifica SPCX
KuCoin SPCXUSDTM
ApeX Omni SPCXUSDT
Orderly PERP_SPCX_USDC_mythos
Aevo SPCX-PERP
Bullet SPCX-USD
OKX SPCX-USDT-SWAP
Variational Omni SPCX
RISEx SPCX/USDC
Binance SPCXUSDT
Deribit SPCX_USDC-PERPETUAL
Extended SPCX-USD
Nado SPCX-PERP
tradeXYZ xyz:SPCX
Coinbase International SPCX-PERP-INTX
Aster SPCXUSD1
Injective SPCX/USDC PERP
edgeX SPCXUSDC