Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0030%/8h= +3.3% APRpaid last 24h −0.030%

Price spread now: OKX against Deribit+0.059%56s7-day average +0.004% · 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−$300.300% of the position

Long on Deribit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.106%−$11 on $10k

Price spread, last 4 days (all we have)−0.111%−$11 · spread now +0.059%, 7d avg +0.004%

Together, before fees−0.217%−$22 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and OKX is 0.055% dearer against Deribit than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.004%. Mind the row above: over the last 5 days funding on this pair cost −0.106%, so the current rate has only just turned in your favour. The two prices were read 56 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	152.99	0.0142	pay 0.0018% / 1h	3m 22s	$73K	$1.2M	10x
Short	OKX SPCX-USDT-SWAP	153.08	0.0172	get 0.0172% / 8h	5h 03m	$39.5M	$167.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.059%Rate

Funding earned: $6.24
Price spread: +0.059% → +0.004%: $5.5
Slippage, 4 orders: −$12.97
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$18.22
Costs to cover: 0.300%
Break-even: 27.4 days

Slippage from Deribit: live order book, 1 min ago; OKX: live order book, 6 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	5.88 bp	9.9 bp −$10	11.9 bp −$119	doesn't fit	doesn't fit
Sell OKX live order book, 6 min ago	0.33 bp	5.3 bp −$5	6.8 bp −$68	12.1 bp −$1,211	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 −0.0333% / S +0.0531%	1h	153.03	+0.023%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.03	+0.026%	$96.2M	$31.4M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	153.06	+0.046%	$31.7M	$65.5M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.768%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.95	−0.026%	$302K	$3.0M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.24	+0.163%	$8K	$936K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.10	+0.072%	$1.3M	$1.7M	75x	as long as short
Bybit SPCXUSDT	+0.0016%	8h	153.06	+0.046%	$30.8M	$42.9M	100x	as long as short
Aftermath Perps SPCXUSD	+0.0025%	1h	152.98	−0.008%	$8K	$8K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.95	−0.026%	$2.5M	$7.2M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus SPCX-USD	+0.0040%	1h	152.96	−0.020%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.06	+0.046%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0048%	1h	153.02	+0.020%	$1.2M	$6.4M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	153.02	+0.020%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.01	+0.013%	$1.7M	$94K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	153.00	+0.007%	$532K	$400K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.88	−0.072%	$3.2M	$2.5M	10x	as long as short
BloFin SPCX-USDT	+0.0060%	8h	153.03	+0.026%	$1.9M	$1.4M	75x	as long as short
Lighter SPCX	+0.0064%	1h	153.00	+0.007%	$1.6M	$7.2M	20x	as long as short
Paradex SPCX-USD-PERP	+0.0074%	8h	153.04	+0.033%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.94	−0.033%	$169K	$130K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.95	−0.026%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.93	−0.039%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.04	+0.033%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.02	+0.022%	$89	—	10x	as long as short
Deribit SPCX_USDC-PERPETUALlong	+0.0142%	1h	152.99	long leg	$73K	$1.2M	10x
Variational Omni SPCX	+0.0167%	8h	153.01	+0.010%	$6.0M	$3.1M	—	as long as short
Bullet SPCX-USD	+0.0168%	1h	153.07	+0.056%	$11K	$191K	10x	as long as short
OKX SPCX-USDT-SWAPshort	+0.0172%	8h	153.08	+0.059%	$39.5M	$167.1M	75x
Extended SPCX-USD	+0.0176%	1h	153.00	+0.007%	$734K	$3.8M	10x	as long as short
Binance SPCXUSDT	+0.0178%	8h	153.07	+0.051%	$252.6M	$1.37B	75x	as long as short
tradeXYZ xyz:SPCX	+0.0185%	1h	153.02	+0.020%	$142.0M	$118.9M	20x	as long as short
RISEx SPCX/USDC	+0.0199%	1h	153.09	+0.063%	$410K	$532K	20x	as long as short
Nado SPCX-PERP	+0.0218%	1h	152.97	−0.014%	$617K	$826K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	153.04	+0.033%	$738K	$979K	10x	as long as short
Phoenix SPCX	+0.0262%	1h	153.03	+0.026%	$445K	$267K	15x	as long as short
Aster SPCXUSD1	+0.0414%	8h	153.12	+0.085%	$19.0M	$17.6M	20x	as long as short
edgeX SPCXUSDC	+0.0427%	4h	153.00	+0.010%	$1.7M	$893K	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.28	+0.190%	$9K	$27K	5.5x	as long as short