SPCX

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0561%/8h= −61.4% APRnext payment −$0.70 per $10,000 · paid last 24h −0.036%

Price spread now: Lighter against Deribit−0.033%7-day average −0.012% · 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−$25as in the Price arb table

costs, in and out, $10k−$230.231% of the position

Long on Deribit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.060%−$6 on $10k

Price spread, last 3 days (all we have)+0.069%+$7 · spread now −0.033%, 7d avg −0.012%

Together, before fees+0.008%+ Points / potential airdropLighter: Season 3 · farm board+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Lighter is 0.020% cheaper against Deribit than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.012%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid -0.060% in total (about -4.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.70 per $10,000. 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	Deribit SPCX_USDC-PERPETUAL	152.97	0.0601	pay 0.0075% / 1h	38m 07s	$71K	$1.0M	10x
Short	Lighter SPCX	152.92	0.0040	get 0.0005% / 1h	38m 07s	$1.6M	$7.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.033%Rate

Funding earned: −$117.72
Price spread: −0.033% → −0.012%: −$2.04
Slippage, 4 orders: −$16.07
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$142.82
Costs to cover: 0.231%
Break-even: never at this rate

Slippage from Deribit: live order book, 1 min ago; Lighter: live order book, 5 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, 1 min ago	7.19 bp	10.7 bp −$11	12.8 bp −$128	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	0.65 bp	0.7 bp −$1	1.9 bp −$19	8.7 bp −$868	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 −0.0272% / S +0.0488%	1h	152.96	−0.010%	$89K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.97	0.000%	$96.6M	$31.3M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.51	+12.775%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.89	−0.052%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.19	+0.144%	$8K	$971K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.98	+0.007%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0030%	1h	152.96	−0.010%	$8K	$10K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.89	−0.052%	$2.5M	$7.6M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+2.798%	$9K	$27K	5.5x	as long as short
Lighter SPCXshort	+0.0040%	1h	152.92	−0.033%	$1.6M	$7.4M	20x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus SPCX-USD	+0.0040%	1h	152.92	−0.033%	$106K	$296K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.92	−0.033%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.95	−0.013%	$490K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.97	0.000%	$1.7M	$79K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.98	+0.007%	$538K	$405K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.90	−0.046%	$3.2M	$2.7M	10x	as long as short
QFEX SPCX-USD	+0.0052%	1h	152.95	−0.013%	$1.2M	$7.6M	10x	as long as short
BloFin SPCX-USDT	+0.0073%	8h	152.99	+0.013%	$1.9M	$1.4M	75x	as long as short
Paradex SPCX-USD-PERP	+0.0079%	8h	152.98	+0.007%	$101	—	5x	as long as short
Bullet SPCX-USD	+0.0097%	1h	152.98	+0.007%	$11K	$188K	10x	as long as short
Pacifica SPCX	+0.0100%	1h	152.90	−0.046%	$173K	$130K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.84	−0.085%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.89	−0.052%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.98	+0.007%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.98	+0.003%	$89	—	10x	as long as short
Bybit SPCXUSDT	+0.0142%	8h	153.01	+0.026%	$30.8M	$42.7M	100x	as long as short
Variational Omni SPCX	+0.0177%	8h	152.96	−0.009%	$6.0M	$3.5M	—	as long as short
OKX SPCX-USDT-SWAP	+0.0190%	8h	153.00	+0.020%	$39.0M	$169.4M	75x	as long as short
Extended SPCX-USD	+0.0192%	1h	152.97	0.000%	$734K	$3.6M	10x	as long as short
Binance SPCXUSDT	+0.0193%	8h	152.99	+0.015%	$253.9M	$1.38B	75x	as long as short
edgeX SPCXUSDC	+0.0248%	4h	152.95	−0.014%	$1.7M	$892K	20x	as long as short
tradeXYZ xyz:SPCX	+0.0253%	1h	152.93	−0.026%	$143.6M	$118.4M	20x	as long as short
Phoenix SPCX	+0.0261%	1h	152.96	−0.007%	$446K	$269K	15x	as long as short
Nado SPCX-PERP	+0.0274%	1h	152.86	−0.074%	$602K	$884K	20x	as long as short
Aster SPCXUSD1	+0.0279%	8h	153.05	+0.049%	$19.0M	$21.3M	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0280%	1h	152.97	0.000%	$733K	$970K	10x	as long as short
Bitget SPCXUSDT	+0.0306%	8h	153.00	+0.020%	$31.3M	$67.2M	75x	as long as short
RISEx SPCX/USDC	+0.0339%	1h	153.02	+0.035%	$403K	$538K	20x	as long as short
Deribit SPCX_USDC-PERPETUALlong	+0.0601%	1h	152.97	long leg	$71K	$1.0M	10x