Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0021%/8h= −2.3% APRpaid last 24h −0.037%

Price spread now: Bitget against Deribit+0.046%48s7-day average +0.014% · 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—prices read too far apart to compare

costs, in and out, $10k−$320.323% of the position

Long on Deribit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.095%−$9 on $10k

Price spread, last 3 days (all we have)−0.050%−$5 · spread now +0.046%, 7d avg +0.014%

Together, before fees−0.145%−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.032% dearer against Deribit than usual: you sell high and buy low (spread +0.046% now, against its 7-day average of +0.014%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.1 days. At the pace of the last 5 days (−0.095% in total) that is about 37 hours. The two prices were read 48 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	Deribit SPCX_USDC-PERPETUAL	152.65	0.0340	pay 0.0042% / 1h	6m 35s	$70K	$1.1M	10x
Short	Bitget SPCXUSDT	152.72	0.0319	get 0.0319% / 8h	1h 06m	$31.0M	$66.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.046%Rate

Funding earned: −$4.4
Price spread: +0.046% → +0.014%: $3.18
Slippage, 4 orders: −$13.32
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$33.53
Costs to cover: 0.323%
Break-even: never at this rate

Slippage from Deribit: live order book, 2 min ago; Bitget: live order book, 7 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, 2 min ago	5.24 bp	9.4 bp −$9	12.3 bp −$123	doesn't fit	doesn't fit
Sell Bitget live order book, 7 min ago	0.33 bp	6.8 bp −$7	8.5 bp −$85	21.0 bp −$2,098	37.3 bp −$18.6K

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 −0.0272% / S +0.0488%	1h	152.66	+0.003%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.68	+0.020%	$96.6M	$30.9M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+13.014%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.71	+0.039%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.89	+0.157%	$8K	$977K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.67	+0.013%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0026%	1h	152.56	−0.058%	$7K	$10K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.62	−0.020%	$1.7M	$7.2M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.61	−0.026%	$2.5M	$7.6M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+3.013%	$9K	$27K	5.5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SPCX-USD-PERP	+0.0046%	1h	152.64	−0.007%	—	$1.1M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.65	0.000%	$489K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.66	+0.007%	$1.7M	$79K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.69	+0.026%	$538K	$404K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.52	−0.085%	$3.2M	$2.6M	10x	as long as short
QFEX SPCX-USD	+0.0066%	1h	152.67	+0.013%	$1.2M	$7.6M	10x	as long as short
BloFin SPCX-USDT	+0.0082%	8h	152.70	+0.033%	$1.9M	$1.4M	75x	as long as short
Paradex SPCX-USD-PERP	+0.0082%	8h	152.68	+0.020%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.59	−0.039%	$175K	$133K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.56	−0.059%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.69	+0.026%	$58K	$270K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.67	+0.013%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.69	+0.029%	$89	—	10x	as long as short
Bullet SPCX-USD	+0.0125%	1h	152.70	+0.031%	$11K	$188K	10x	as long as short
Bybit SPCXUSDT	+0.0147%	8h	152.73	+0.052%	$30.8M	$42.4M	100x	as long as short
tradeXYZ xyz:SPCX	+0.0175%	1h	152.66	+0.007%	$131.0M	$108.1M	20x	as long as short
Variational Omni SPCX	+0.0178%	8h	152.64	−0.004%	$6.0M	$3.9M	—	as long as short
OKX SPCX-USDT-SWAP	+0.0193%	8h	152.72	+0.046%	$39.0M	$168.6M	75x	as long as short
Extended SPCX-USD	+0.0200%	1h	152.67	+0.012%	$739K	$3.6M	10x	as long as short
Binance SPCXUSDT	+0.0203%	8h	152.70	+0.033%	$255.5M	$1.38B	75x	as long as short
Arcus SPCX-USD	+0.0227%	1h	152.63	−0.013%	$106K	$296K	5x	as long as short
Nado SPCX-PERP	+0.0249%	1h	152.56	−0.058%	$625K	$871K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	152.63	−0.013%	$741K	$947K	10x	as long as short
Aster SPCXUSD1	+0.0261%	8h	152.77	+0.077%	$19.0M	$21.8M	20x	as long as short
Phoenix SPCX	+0.0314%	1h	152.65	0.000%	$445K	$196K	15x	as long as short
Bitget SPCXUSDTshort	+0.0319%	8h	152.72	+0.046%	$31.0M	$66.6M	75x
Deribit SPCX_USDC-PERPETUALlong	+0.0340%	1h	152.65	long leg	$70K	$1.1M	10x
RISEx SPCX/USDC	+0.0543%	1h	152.72	+0.049%	$402K	$548K	20x	as long as short
edgeX SPCXUSDC	+0.0798%	4h	152.65	−0.002%	$1.7M	$892K	20x	as long as short