Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0407%/8h= +44.5% APRpaid last 24h +0.011%

Price spread now: Aster against Deribit+0.143%7-day average +0.027% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$270.271% of the position

Long on Deribit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.065%−$7 on $10k

Price spread, last 4 days (all we have)−0.013%−$1 · spread now +0.143%, 7d avg +0.027%

Together, before fees−0.078%+ Points / potential airdropAster: Stage 5 · farm board−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Aster is 0.116% dearer against Deribit than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.027%. Mind the row above: over the last 5 days funding on this pair cost −0.065%, 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 5 days it paid -0.065% in total (about -4.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SPCX_USDC-PERPETUAL	152.70	0	get 0.0000% / 1h	7m 38s	$44K	$1.4M	10x
Short	Aster SPCXUSD1	152.92	0.0407	get 0.0407% / 8h	5h 07m	$19.0M	$30.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Deribit. 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 DeribitbpFee AsterbpOrdersPrice spread, now +0.143%Rate

Funding earned: $85.4
Price spread: +0.143% → +0.027%: $11.61
Slippage, 4 orders: −$12.12
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: $69.89
Costs to cover: 0.271%
Break-even: 1.3 days

Slippage from Deribit: live order book, 4 min ago; Aster: live order book, 4 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 Deribit live order book, 4 min ago	0.33 bp	12.1 bp −$12	15.6 bp −$156	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	1.31 bp	5.8 bp −$6	10.1 bp −$101	doesn't fit	doesn't fit

SPCX on 38 exchanges

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 −0.0187% / S +0.0435%	1h	152.59	−0.075%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0078%	8h	152.75	+0.033%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.80	+0.065%	$30.1M	$42.9M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.75	+0.033%	$96.3M	$33.0M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.82	+0.079%	$31.1M	$66.8M	75x	as long as short
StandX SPCX-USD	0.0000%	1h	152.70	0.000%	$306K	$2.6M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.92	+0.144%	$8K	$814K	10x	as long as short
Deribit SPCX_USDC-PERPETUALlong	0.0000%	1h	152.70	long leg	$44K	$1.4M	10x
HTX SPCX-USDT	0.0000%	8h	152.81	+0.072%	$1.3M	$1.7M	75x	as long as short
Variational Omni SPCX	+0.0002%	8h	152.65	−0.035%	$5.9M	$2.7M	—	as long as short

Show all 38 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps SPCXUSD	+0.0021%	1h	152.61	−0.057%	$7K	$7K	10x	as long as short
QFEX SPCX-USD	+0.0030%	1h	152.72	+0.013%	$1.2M	$5.4M	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.72	+0.013%	$1.6M	$7.5M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.69	−0.007%	$2.5M	$7.3M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	152.78	+0.052%	$9K	$28K	5.5x	as long as short
Extended SPCX-USD	+0.0040%	1h	152.73	+0.020%	$701K	$5.3M	10x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.71	+0.007%	$103K	$292K	5x	as long as short
Binance SPCXUSDT	+0.0043%	8h	152.78	+0.052%	$252.1M	$1.38B	75x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.74	+0.026%	—	$1.2M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.69	−0.007%	$128.3M	$129.7M	20x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.73	+0.020%	$1.7M	$56K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.75	+0.033%	$534K	$376K	50x	as long as short
Paradex SPCX-USD-PERP	+0.0050%	8h	152.75	+0.034%	$101	—	5x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.59	−0.072%	$3.1M	$2.1M	10x	as long as short
RISEx SPCX/USDC	+0.0051%	1h	152.80	+0.065%	$351K	$490K	20x	as long as short
OKX SPCX-USDT-SWAP	+0.0079%	8h	152.80	+0.065%	$39.7M	$168.2M	75x	as long as short
Polymarket Perps SPCX-USD	+0.0098%	1h	152.77	+0.046%	$487K	$1.1M	10x	as long as short
Pacifica SPCX	+0.0100%	1h	152.69	−0.007%	$169K	$114K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.65	−0.033%	$13.0M	$6.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.61	−0.059%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.76	+0.039%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.74	+0.026%	$89	—	10x	as long as short
Bullet SPCX-USD	+0.0107%	1h	152.79	+0.059%	$11K	$191K	10x	as long as short
Nado SPCX-PERP	+0.0119%	1h	152.75	+0.033%	$633K	$804K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0136%	1h	152.70	0.000%	$735K	$1.1M	10x	as long as short
Phoenix SPCX	+0.0209%	1h	152.71	+0.007%	$450K	$271K	15x	as long as short
Aster SPCXUSD1short	+0.0407%	8h	152.92	+0.143%	$19.0M	$30.6M	20x
edgeX SPCXUSDC	+0.0952%	4h	152.65	−0.032%	$1.7M	$889K	20x	as long as short