SPCX

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0261%/8h= +28.6% APRnext payment +$0.33 per $10,000 · paid last 24h +0.003%

Price spread now: Phoenix against Deribit+0.039%70s7-day average +0.005% · 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−$290.292% of the position

Long on Deribit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.024%−$2 on $10k

Price spread, last 4 days (all we have)−0.052%−$5 · spread now +0.039%, 7d avg +0.005%

Together, before fees−0.077%−$8 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 Phoenix is 0.034% dearer against Deribit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.005%. The two prices were read 70 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid -0.024% in total (about -1.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.33 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	153.04	0	get 0.0000% / 1h	39m 46s	$73K	$1.2M	10x
Short	Phoenix SPCX	153.10	0.0261	get 0.0033% / 1h	39m 46s	$445K	$268K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.039%Rate

Funding earned: $54.88
Price spread: +0.039% → +0.005%: $3.44
Slippage, 4 orders: −$15.23
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $29.09
Costs to cover: 0.292%
Break-even: 3.3 days

Slippage from Deribit: live order book, 4 min ago; Phoenix: live order book, 18 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	4.57 bp	8.6 bp −$9	11.7 bp −$117	doesn't fit	doesn't fit
Sell Phoenix live order book, 18 min ago	0.33 bp	5.5 bp −$6	16.8 bp −$168	doesn't fit	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 −0.0314% / S +0.0531%	1h	153.06	+0.010%	$91K	—	20x	as long as short
Bybit SPCXUSDT	0.0000%	8h	153.09	+0.033%	$30.8M	$42.9M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.08	+0.026%	$96.3M	$31.3M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	153.13	+0.059%	$31.7M	$65.3M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.731%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	153.03	−0.007%	$302K	$3.0M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.31	+0.176%	$8K	$936K	10x	as long as short
Deribit SPCX_USDC-PERPETUALlong	0.0000%	1h	153.04	long leg	$73K	$1.2M	10x
HTX SPCX-USDT	0.0000%	8h	153.14	+0.065%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0023%	1h	153.02	−0.012%	$8K	$8K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SPCX	+0.0032%	1h	153.06	+0.013%	$1.6M	$7.3M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	153.01	−0.020%	$2.5M	$7.2M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	153.02	−0.013%	$105K	$297K	5x	as long as short
BloFin SPCX-USDT	+0.0042%	8h	153.10	+0.039%	$1.9M	$1.4M	75x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.12	+0.052%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0046%	1h	153.05	+0.007%	$1.2M	$6.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	153.06	+0.013%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.07	+0.020%	$1.7M	$95K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	153.11	+0.046%	$533K	$395K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.92	−0.078%	$3.2M	$2.5M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0064%	8h	153.11	+0.049%	$101	—	5x	as long as short
tradeXYZ xyz:SPCX	+0.0071%	1h	153.05	+0.007%	$141.5M	$119.0M	20x	as long as short
Bullet SPCX-USD	+0.0084%	1h	153.11	+0.044%	$11K	$192K	10x	as long as short
Pacifica SPCX	+0.0100%	1h	153.00	−0.026%	$169K	$130K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	153.00	−0.026%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.01	−0.020%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.10	+0.039%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.09	+0.034%	$89	—	10x	as long as short
Nado SPCX-PERP	+0.0133%	1h	153.04	−0.002%	$617K	$824K	20x	as long as short
Variational Omni SPCX	+0.0149%	8h	153.08	+0.024%	$6.0M	$3.1M	—	as long as short
OKX SPCX-USDT-SWAP	+0.0155%	8h	153.12	+0.052%	$39.5M	$166.9M	75x	as long as short
Extended SPCX-USD	+0.0160%	1h	153.05	+0.008%	$738K	$3.8M	10x	as long as short
Binance SPCXUSDT	+0.0160%	8h	153.09	+0.034%	$252.2M	$1.37B	75x	as long as short
RISEx SPCX/USDC	+0.0191%	1h	153.13	+0.062%	$410K	$530K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	153.04	0.000%	$738K	$925K	10x	as long as short
Phoenix SPCXshort	+0.0261%	1h	153.10	+0.039%	$445K	$268K	15x
Aster SPCXUSD1	+0.0409%	8h	153.16	+0.076%	$19.0M	$19.6M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.35	+0.203%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0913%	4h	153.08	+0.027%	$1.7M	$891K	20x	as long as short