Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0186%/8h= +20.4% APRpaid last 24h +0.071%

Price spread now: Deribit against BloFin−0.026%57s7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$330.330% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.280%+$28 on $10k

Price spread, last 4 days (all we have)+0.007%+$1 · spread now −0.026%, 7d avg −0.013%

Together, before fees+0.286%+$29 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.013%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate. The two prices were read 57 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	BloFin SPCX-USDT	152.43	0.0024	pay 0.0024% / 8h	3h 17m	$1.9M	$1.3M	75x
Short	Deribit SPCX_USDC-PERPETUAL	152.39	0.0210	get 0.0026% / 1h	17m 48s	$86K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BloFin. 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 BloFinbpFee DeribitbpOrdersPrice spread, now −0.026%Rate

Funding earned: $39.04
Price spread: −0.026% → −0.013%: −$1.37
Slippage, 4 orders: −$14.01
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $4.66
Costs to cover: 0.330%
Break-even: 6.2 days

Slippage from BloFin: live order book, 5 min ago; Deribit: live order book, 1 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 BloFin live order book, 5 min ago	0.98 bp	7.0 bp −$7	7.4 bp −$74	10.3 bp −$1,028	18.8 bp −$9,396
Sell Deribit live order book, 1 min ago	5.25 bp	9.1 bp −$9	11.3 bp −$113	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 −0.0265% / S +0.0494%	1h	152.28	−0.095%	$90K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.42	−0.007%	$96.2M	$31.5M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.52	+0.059%	$31.3M	$65.9M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+13.185%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.47	+0.026%	$300K	$2.9M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.62	+0.125%	$8K	$920K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.46	+0.020%	$1.3M	$1.8M	75x	as long as short
Bybit SPCXUSDT	+0.0015%	8h	152.47	+0.026%	$30.6M	$42.7M	100x	as long as short
BloFin SPCX-USDTlong	+0.0024%	8h	152.43	long leg	$1.9M	$1.3M	75x
Aftermath Perps SPCXUSD	+0.0031%	1h	152.37	−0.041%	$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 SPCX	+0.0032%	1h	152.36	−0.046%	$2.5M	$7.4M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.34	−0.059%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.37	−0.039%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.37	−0.039%	$492K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.37	−0.039%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.41	−0.013%	$531K	$392K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.22	−0.138%	$3.2M	$2.4M	10x	as long as short
QFEX SPCX-USD	+0.0050%	1h	152.39	−0.026%	$1.2M	$5.7M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0057%	8h	152.41	−0.014%	$101	—	5x	as long as short
Lighter SPCX	+0.0096%	1h	152.39	−0.026%	$1.6M	$7.4M	20x	as long as short
Pacifica SPCX	+0.0100%	1h	152.29	−0.092%	$168K	$120K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.31	−0.079%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.37	−0.039%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.42	−0.007%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.40	−0.021%	$88	—	10x	as long as short
tradeXYZ xyz:SPCX	+0.0125%	1h	152.36	−0.046%	$131.4M	$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	152.47	+0.029%	$250.5M	$1.36B	75x	as long as short
Extended SPCX-USD	+0.0144%	1h	152.40	−0.017%	$739K	$4.1M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0147%	8h	152.51	+0.052%	$39.4M	$166.4M	75x	as long as short
Nado SPCX-PERP	+0.0209%	1h	152.30	−0.085%	$613K	$802K	20x	as long as short
Deribit SPCX_USDC-PERPETUALshort	+0.0210%	1h	152.39	−0.026%	$86K	$1.2M	10x
RISEx SPCX/USDC	+0.0217%	1h	152.41	−0.012%	$408K	$517K	20x	as long as short
Bullet SPCX-USD	+0.0218%	1h	152.41	−0.011%	$11K	$192K	10x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0248%	1h	152.44	+0.007%	$739K	$931K	10x	as long as short
Phoenix SPCX	+0.0261%	1h	152.41	−0.013%	$443K	$264K	15x	as long as short
Aster SPCXUSD1	+0.0418%	8h	152.55	+0.079%	$18.9M	$24.0M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.19	+0.499%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0459%	4h	152.44	+0.008%	$1.7M	$892K	20x	as long as short