Funding you earn now, next payment 00:00 UTC+0.0235%/8h= +25.7% APRpaid last 24h +0.028%
Price spread now: Phoenix against Bybit−0.039%85s7-day average +0.019% · you buy dearer than you sell
Net, funding: paid 7d − costs−$24as 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−$270.275% of the position
Funding, last 7 days+0.039%+$4 on $10k
+Price spread, last 3 days (all we have)+0.227%+$23 · spread now −0.039%, 7d avg +0.019%
=Funding pays, the price is against you. Phoenix is 0.058% cheaper against Bybit than usual: you would sell low and buy high (spread −0.039% now, against its 7-day average of +0.019%). If the spread goes back, that is −$6 on $10k: about 20 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.039% in total) that is about 11 days. The two prices were read 85 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 0.039% in total (about 2.0% 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 | Bybit SPCXUSDT | 153.11 | 0.0079 | pay 0.0079% / 8h | 7h 49m | $30.8M | $42.7M | 100x |
| Short | Phoenix SPCX | 153.05 | 0.0314 | get 0.0039% / 1h | 49m 55s | $445K | $271K | 15x |
Bybit SPCXUSDT
Phoenix SPCXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bybit. 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
- $49.35
- Price spread: −0.039% → +0.019%
- −$5.84
- Slippage, 4 orders
- −$9.49
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $16.03
- Costs to cover
- 0.275%
- Break-even
- 4.7 days
Slippage from Bybit: live order book, 4 min ago; Phoenix: live order book, 22 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, 4 min ago | 0.65 bp | 7.0 bp −$7 | 10.4 bp −$104 | 44.4 bp −$4,436 | doesn't fit |
| Sell Phoenix live order book, 22 min ago | 0.33 bp | 5.1 bp −$5 | 15.6 bp −$156 | 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 −0.0295% / S +0.0504% | 1h | 153.03 | −0.049% | $88K | — | 20x | as long as short |
| Gate SPCX_USDT | 0.0000% | 8h | 153.05 | −0.039% | $96.6M | $31.0M | 100x | as long as short |
| GRVT SPCX_USDT_Perp | 0.0000% | 8h | 172.52 | +12.678% | $4K | $882 | 10x | as long as short |
| StandX SPCX-USD | 0.0000% | 1h | 152.95 | −0.105% | $302K | $3.1M | 20x | as long as short |
| SunX SPCX-USDT | 0.0000% | 8h | 153.31 | +0.131% | $8K | $964K | 10x | as long as short |
| HTX SPCX-USDT | 0.0000% | 8h | 153.05 | −0.039% | $1.3M | $1.7M | 75x | as long as short |
| Aftermath Perps SPCXUSD | +0.0026% | 1h | 152.95 | −0.103% | $8K | $8K | 10x | as long as short |
| Lighter SPCX | +0.0032% | 1h | 153.03 | −0.052% | $1.6M | $7.4M | 20x | as long as short |
| Lighter RH SPCX | +0.0032% | 1h | 153.00 | −0.072% | $2.5M | $7.4M | 20x | as long as short |
| Injective SPCX/USDC PERP | +0.0033% | 1h | 157.25 | +2.704% | $9K | $27K | 5.5x | 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 SPCX
Lighter RH SPCX
Injective SPCX/USDC PERPShow all 39 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest SPCX-USD-PERP | +0.0046% | 1h | 153.08 | −0.020% | — | $1.2M | 10x | as long as short |
| SoDEX SPCX-USD | +0.0050% | 1h | 153.04 | −0.046% | $1.7M | $81K | 20x | as long as short |
| Phemex SPCXUSDT | +0.0050% | 8h | 153.02 | −0.059% | $534K | $415K | 50x | as long as short |
| Ondo Perps SPCX-USD.P | +0.0050% | 1h | 152.92 | −0.124% | $3.2M | $2.6M | 10x | as long as short |
| QFEX SPCX-USD | +0.0063% | 1h | 153.03 | −0.052% | $1.2M | $7.6M | 10x | as long as short |
| Bybit SPCXUSDTlong | +0.0079% | 8h | 153.11 | long leg | $30.8M | $42.7M | 100x | |
| BloFin SPCX-USDT | +0.0090% | 8h | 153.09 | −0.013% | $1.9M | $1.4M | 75x | as long as short |
| Pacifica SPCX | +0.0100% | 1h | 152.97 | −0.091% | $173K | $129K | 10x | as long as short |
| KuCoin SPCXUSDTM | +0.0100% | 8h | 152.93 | −0.118% | $13.0M | $5.5M | 20x | as long as short |
| ApeX Omni SPCXUSDT | +0.0100% | 1h | 153.01 | −0.065% | $58K | $271K | 50x | as long as short |
| Orderly PERP_SPCX_USDC_mythos | +0.0100% | 8h | 153.09 | −0.013% | $15K | $7K | 10x | as long as short |
| Paradex SPCX-USD-PERP | +0.0101% | 8h | 153.08 | −0.021% | $101 | — | 5x | as long as short |
| Aevo SPCX-PERP | +0.0104% | 1h | 153.04 | −0.048% | $89 | — | 10x | as long as short |
| Polymarket Perps SPCX-USD | +0.0142% | 1h | 153.04 | −0.046% | $490K | $1.1M | 10x | as long as short |
| Nado SPCX-PERP | +0.0167% | 1h | 152.98 | −0.087% | $602K | $867K | 20x | as long as short |
| Arcus SPCX-USD | +0.0194% | 1h | 153.00 | −0.072% | $105K | $297K | 5x | as long as short |
| Variational Omni SPCX | +0.0194% | 8h | 153.06 | −0.032% | $6.0M | $3.5M | — | as long as short |
| OKX SPCX-USDT-SWAP | +0.0201% | 8h | 153.11 | 0.000% | $39.1M | $169.2M | 75x | as long as short |
| Deribit SPCX_USDC-PERPETUAL | +0.0208% | 1h | 153.04 | −0.046% | $71K | $1.0M | 10x | as long as short |
| Extended SPCX-USD | +0.0208% | 1h | 153.06 | −0.034% | $732K | $3.7M | 10x | as long as short |
| Binance SPCXUSDT | +0.0211% | 8h | 153.09 | −0.012% | $252.9M | $1.38B | 75x | as long as short |
| tradeXYZ xyz:SPCX | +0.0314% | 1h | 153.03 | −0.052% | $143.4M | $119.2M | 20x | as long as short |
| Phoenix SPCXshort | +0.0314% | 1h | 153.05 | −0.039% | $445K | $271K | 15x | |
| Aster SPCXUSD1 | +0.0324% | 8h | 153.03 | −0.054% | $19.0M | $20.5M | 20x | as long as short |
| Coinbase International SPCX-PERP-INTX | +0.0328% | 1h | 153.14 | +0.020% | $734K | $971K | 10x | as long as short |
| Bitget SPCXUSDT | +0.0338% | 8h | 153.11 | 0.000% | $31.3M | $66.6M | 75x | as long as short |
| Bullet SPCX-USD | +0.0343% | 1h | 153.08 | −0.020% | $11K | $187K | 10x | as long as short |
| RISEx SPCX/USDC | +0.0409% | 1h | 153.09 | −0.011% | $401K | $535K | 20x | as long as short |
| edgeX SPCXUSDC | +0.0475% | 4h | 153.08 | −0.022% | $1.7M | $893K | 20x | as long as short |
Vest SPCX-USD-PERP
SoDEX SPCX-USD
Phemex SPCXUSDT
Ondo Perps SPCX-USD.P
QFEX SPCX-USD
BloFin SPCX-USDT
Pacifica SPCX
KuCoin SPCXUSDTM
ApeX Omni SPCXUSDT
Orderly PERP_SPCX_USDC_mythos
Paradex SPCX-USD-PERP
Aevo SPCX-PERP
Polymarket Perps SPCX-USD
Nado SPCX-PERP
Arcus SPCX-USD
Variational Omni SPCX
OKX SPCX-USDT-SWAP
Deribit SPCX_USDC-PERPETUAL
Extended SPCX-USD
Binance SPCXUSDT
tradeXYZ xyz:SPCX
Aster SPCXUSD1
Coinbase International SPCX-PERP-INTX
Bitget SPCXUSDT
Bullet SPCX-USD
RISEx SPCX/USDC
edgeX SPCXUSDC