Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0261%/8h= +28.6% APRpaid last 24h +0.008%

Price spread now: tradeXYZ against Bybit−0.026%7-day average −0.079% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$320.318% of the position

Long on Bybit Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.055%−$6 on $10k

Price spread, last 7 days−0.061%−$6 · spread now −0.026%, 7d avg −0.079%

Together, before fees−0.117%+ Points / potential airdroptradeXYZ: Active · farm board−$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and tradeXYZ is 0.053% dearer against Bybit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.079%. Mind the row above: over the last 7 days funding on this pair cost −0.055%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.055% in total (about -2.9% 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	152.72	0.0022	pay 0.0022% / 8h	3h 38m	$30.7M	$42.6M	100x
Short	tradeXYZ xyz:SPCX	152.68	0.0283	get 0.0035% / 1h	38m 40s	$141.1M	$119.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.026%Rate

Funding earned: $54.91
Price spread: −0.026% → −0.079%: $5.32
Slippage, 4 orders: −$2.77
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $28.46
Costs to cover: 0.318%
Break-even: 3.4 days

Slippage from Bybit: live order book, 5 min ago; tradeXYZ: live order book, 11 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, 5 min ago	0.33 bp	6.4 bp −$6	9.4 bp −$94	43.4 bp −$4,336	doesn't fit
Sell tradeXYZ live order book, 11 min ago	0.33 bp	9.3 bp −$9	9.7 bp −$97	12.7 bp −$1,268	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 −0.0214% / S +0.0456%	1h	152.69	−0.023%	$90K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.68	−0.026%	$96.1M	$31.3M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.72	0.000%	$31.7M	$65.4M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.971%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.88	+0.105%	$301K	$2.9M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.94	+0.144%	$8K	$929K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.83	+0.072%	$1.3M	$1.7M	75x	as long as short
Bybit SPCXUSDTlong	+0.0022%	8h	152.72	long leg	$30.7M	$42.6M	100x
Lighter RH SPCX	+0.0032%	1h	152.64	−0.052%	$2.5M	$7.3M	20x	as long as short
Aftermath Perps SPCXUSD	+0.0033%	1h	152.76	+0.025%	$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
BloFin SPCX-USDT	+0.0038%	8h	152.76	+0.026%	$1.9M	$1.3M	75x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.72	0.000%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.70	−0.013%	—	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.69	−0.020%	$1.7M	$97K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.69	−0.020%	$532K	$391K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.60	−0.079%	$3.2M	$2.4M	10x	as long as short
QFEX SPCX-USD	+0.0050%	1h	152.68	−0.026%	$1.2M	$5.8M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0058%	1h	152.72	0.000%	$495K	$1.2M	10x	as long as short
Pacifica SPCX	+0.0100%	1h	152.61	−0.072%	$169K	$121K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.64	−0.052%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.77	+0.033%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.77	+0.033%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.72	0.000%	$89	—	10x	as long as short
Paradex SPCX-USD-PERP	+0.0105%	8h	152.71	−0.009%	$101	—	5x	as long as short
Variational Omni SPCX	+0.0142%	8h	152.85	+0.084%	$6.0M	$2.9M	—	as long as short
Lighter SPCX	+0.0152%	1h	152.67	−0.033%	$1.6M	$7.3M	20x	as long as short
Binance SPCXUSDT	+0.0158%	8h	152.71	−0.008%	$248.3M	$1.36B	75x	as long as short
OKX SPCX-USDT-SWAP	+0.0160%	8h	152.71	−0.007%	$39.5M	$165.9M	75x	as long as short
Extended SPCX-USD	+0.0160%	1h	152.67	−0.035%	$738K	$3.8M	10x	as long as short
RISEx SPCX/USDC	+0.0217%	1h	152.74	+0.016%	$409K	$517K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0248%	1h	152.90	+0.118%	$741K	$939K	10x	as long as short
Nado SPCX-PERP	+0.0253%	1h	152.63	−0.057%	$615K	$810K	20x	as long as short
Phoenix SPCX	+0.0261%	1h	152.85	+0.085%	$444K	$264K	15x	as long as short
Bullet SPCX-USD	+0.0280%	1h	152.72	0.000%	$12K	$192K	10x	as long as short
tradeXYZ xyz:SPCXshort	+0.0283%	1h	152.68	−0.026%	$141.1M	$119.3M	20x
Deribit SPCX_USDC-PERPETUAL	+0.0405%	1h	152.70	−0.013%	$84K	$1.2M	10x	as long as short
Aster SPCXUSD1	+0.0433%	8h	152.81	+0.061%	$19.0M	$23.6M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.17	+0.295%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0744%	4h	152.85	+0.084%	$1.7M	$891K	20x	as long as short