Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0053%/8h= +5.9% APRpaid last 24h +0.036%

Price spread now: Deribit against Bybit−0.052%7-day average +0.003% · 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−$36as in the Price arb table

costs, in and out, $10k−$300.304% of the position

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.100%+$10 on $10k

Price spread, last 3 days (all we have)+0.071%+$7 · spread now −0.052%, 7d avg +0.003%

Together, before fees+0.171%+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.055% cheaper against Bybit than usual: you would sell low and buy high (spread −0.052% now, against its 7-day average of +0.003%). If the spread goes back, that is −$6 on $10k: about 3.5 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SPCXUSDT	153.10	0.0089	pay 0.0089% / 8h	6h 17m	$30.8M	$42.9M	100x
Short	Deribit SPCX_USDC-PERPETUAL	153.02	0.0142	get 0.0018% / 1h	17m 53s	$72K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bybit. 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 BybitbpFee DeribitbpOrdersPrice spread, now −0.052%Rate

Funding earned: $11.22
Price spread: −0.052% → +0.003%: −$5.53
Slippage, 4 orders: −$12.44
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$24.75
Costs to cover: 0.304%
Break-even: 22.4 days

Slippage from Bybit: live order book, 1 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 Bybit live order book, 1 min ago	0.33 bp	7.0 bp −$7	10.8 bp −$108	45.9 bp −$4,590	doesn't fit
Sell Deribit live order book, 1 min ago	4.25 bp	8.4 bp −$8	11.0 bp −$110	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 −0.0346% / S +0.0541%	1h	153.04	−0.036%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.07	−0.020%	$96.0M	$31.3M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.688%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.98	−0.078%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.32	+0.144%	$8K	$946K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.15	+0.033%	$1.3M	$1.7M	75x	as long as short
edgeX SPCXUSDC	+0.0020%	4h	153.07	−0.021%	$1.7M	$893K	20x	as long as short
Aftermath Perps SPCXUSD	+0.0024%	1h	152.98	−0.077%	$8K	$8K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	153.01	−0.059%	$2.5M	$7.3M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	153.32	+0.144%	$9K	$27K	5.5x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SPCX	+0.0040%	1h	153.04	−0.039%	$1.6M	$7.2M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	153.02	−0.052%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.05	−0.033%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0049%	1h	153.05	−0.033%	$1.2M	$6.7M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	153.04	−0.039%	$501K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.07	−0.020%	$1.7M	$91K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	153.10	0.000%	$534K	$405K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.94	−0.105%	$3.2M	$2.6M	10x	as long as short
Bybit SPCXUSDTlong	+0.0089%	8h	153.10	long leg	$30.8M	$42.9M	100x
Paradex SPCX-USD-PERP	+0.0089%	8h	153.10	−0.003%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.99	−0.072%	$169K	$133K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	153.00	−0.065%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.12	+0.013%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.11	+0.007%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.10	−0.002%	$89	—	10x	as long as short
Bitget SPCXUSDT	+0.0141%	8h	153.14	+0.026%	$31.9M	$66.1M	75x	as long as short
Deribit SPCX_USDC-PERPETUALshort	+0.0142%	1h	153.02	−0.052%	$72K	$1.1M	10x
Bullet SPCX-USD	+0.0174%	1h	153.11	+0.007%	$11K	$190K	10x	as long as short
tradeXYZ xyz:SPCX	+0.0183%	1h	153.04	−0.039%	$142.4M	$119.1M	20x	as long as short
OKX SPCX-USDT-SWAP	+0.0198%	8h	153.11	+0.007%	$39.4M	$168.7M	75x	as long as short
Variational Omni SPCX	+0.0208%	8h	153.07	−0.022%	$6.0M	$3.3M	—	as long as short
Binance SPCXUSDT	+0.0222%	8h	153.10	−0.001%	$252.9M	$1.37B	75x	as long as short
Extended SPCX-USD	+0.0224%	1h	153.07	−0.021%	$736K	$3.8M	10x	as long as short
Nado SPCX-PERP	+0.0245%	1h	152.98	−0.081%	$622K	$838K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0288%	1h	152.97	−0.085%	$738K	$973K	10x	as long as short
Phoenix SPCX	+0.0314%	1h	153.08	−0.013%	$445K	$270K	15x	as long as short
RISEx SPCX/USDC	+0.0410%	1h	153.13	+0.016%	$408K	$539K	20x	as long as short
Aster SPCXUSD1	+0.0410%	8h	153.14	+0.027%	$19.0M	$15.0M	20x	as long as short