Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0341%/8h= −37.3% APRpaid last 24h −0.060%

Price spread now: SunX against Deribit+0.217%7-day average +0.066% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.122%−$12 on $10k

Price spread, last 4 days (all we have)−0.133%−$13 · spread now +0.217%, 7d avg +0.066%

Together, before fees−0.255%−$25 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.151% dearer against Deribit than usual: you sell high and buy low (spread +0.217% now, against its 7-day average of +0.066%): +$15 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 35 hours. At the pace of the last 5 days (−0.122% in total) that is about 6.1 days.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid -0.122% in total (about -9.1% a year). A funding rate is set anew for every payment. 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	152.40	0.0341	pay 0.0043% / 1h	41m 15s	$89K	$1.3M	10x
Short	SunX SPCX-USDT	152.73	0	get 0.0000% / 8h	1h 41m	$8K	$897K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.217%Rate

Funding earned: −$71.59
Price spread: +0.217% → +0.066%: $15.05
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$71.53
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Deribit: live order book, 3 min ago; SunX: live order book, 21 min ago. Net counts fees only.

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, 3 min ago	4.92 bp	8.9 bp −$9	10.8 bp −$108	doesn't fit	doesn't fit
Sell SunX live order book, 21 min ago	21.92 bp	doesn't fit	doesn't fit	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 −0.0187% / S +0.0435%	1h	152.40	−0.003%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0018%	8h	152.45	+0.033%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.45	+0.033%	$30.6M	$42.7M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.44	+0.026%	$96.1M	$31.8M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.48	+0.052%	$31.2M	$66.0M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+13.202%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.55	+0.098%	$300K	$2.7M	20x	as long as short
SunX SPCX-USDTshort	0.0000%	8h	152.73	+0.217%	$8K	$897K	10x
HTX SPCX-USDT	0.0000%	8h	152.57	+0.112%	$1.3M	$1.8M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0021%	1h	152.45	+0.031%	$7K	$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 RH SPCX	+0.0032%	1h	152.38	−0.013%	$2.5M	$7.3M	20x	as long as short
QFEX SPCX-USD	+0.0038%	1h	152.44	+0.026%	$1.2M	$5.5M	10x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.45	+0.033%	$103K	$299K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.42	+0.013%	—	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.42	+0.013%	$1.7M	$97K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.46	+0.039%	$531K	$383K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.39	−0.007%	$3.2M	$2.2M	10x	as long as short
RISEx SPCX/USDC	+0.0072%	1h	152.51	+0.073%	$408K	$498K	20x	as long as short
Polymarket Perps SPCX-USD	+0.0074%	1h	152.45	+0.033%	$487K	$1.2M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0077%	8h	152.47	+0.045%	$101	—	5x	as long as short
tradeXYZ xyz:SPCX	+0.0080%	1h	152.39	−0.007%	$130.0M	$129.1M	20x	as long as short
Variational Omni SPCX	+0.0084%	8h	152.58	+0.117%	$6.0M	$2.8M	—	as long as short
Lighter SPCX	+0.0088%	1h	152.39	−0.007%	$1.6M	$7.4M	20x	as long as short
Pacifica SPCX	+0.0100%	1h	152.39	−0.007%	$169K	$118K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.38	−0.013%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.45	+0.033%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.47	+0.046%	$14K	$7K	10x	as long as short
Binance SPCXUSDT	+0.0102%	8h	152.44	+0.026%	$250.6M	$1.36B	75x	as long as short
Extended SPCX-USD	+0.0104%	1h	152.40	+0.003%	$733K	$4.3M	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.44	+0.027%	$88	—	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0116%	8h	152.47	+0.046%	$39.6M	$166.7M	75x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0192%	1h	152.62	+0.144%	$726K	$932K	10x	as long as short
Phoenix SPCX	+0.0210%	1h	152.48	+0.052%	$443K	$266K	15x	as long as short
Nado SPCX-PERP	+0.0226%	1h	152.40	+0.002%	$627K	$808K	20x	as long as short
Bullet SPCX-USD	+0.0256%	1h	152.48	+0.051%	$11K	$192K	10x	as long as short
Deribit SPCX_USDC-PERPETUALlong	+0.0341%	1h	152.40	long leg	$89K	$1.3M	10x
Aster SPCXUSD1	+0.0365%	8h	152.57	+0.113%	$18.8M	$26.3M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.81	+0.269%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0976%	4h	152.55	+0.097%	$1.7M	$893K	20x	as long as short