Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0729%/8h= −79.8% APRpaid last 24h +0.090%

Price spread now: tradeXYZ against edgeX−0.010%86s7-day average −0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$320.316% of the position

Long on edgeX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.689%−$69 on $10k

Price spread, last 7 days−0.084%−$8 · spread now −0.010%, 7d avg −0.056%

Together, before fees−0.773%+ Points / potential airdropedgeX: Active · tradeXYZ: Active · farm board−$77 on $10k · with fees, hour by hour

The price spread pays, funding is against you. tradeXYZ is 0.046% dearer against edgeX than usual: you sell high and buy low (spread −0.010% now, against its 7-day average of −0.056%): +$5 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.689% in total) that is about 11 hours. The two prices were read 86 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	edgeX SPCXUSDC	153.06	0.0807	pay 0.0403% / 4h	33m 56s	$1.7M	$892K	20x
Short	tradeXYZ xyz:SPCX	153.04	0.0078	get 0.0010% / 1h	33m 56s	$141.4M	$119.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against edgeX. 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 edgeXbpFee tradeXYZbpOrdersPrice spread, now −0.010%Rate

Funding earned: −$153.12
Price spread: −0.010% → −0.056%: $4.59
Slippage, 4 orders: −$4.63
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$180.16
Costs to cover: 0.316%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; tradeXYZ: 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 edgeX live order book, 5 min ago	1.63 bp	6.1 bp −$6	7.0 bp −$70	20.6 bp −$2,060	doesn't fit
Sell tradeXYZ live order book, 6 min ago	0.33 bp	10.0 bp −$10	10.8 bp −$108	13.6 bp −$1,359	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 −0.0253% / S +0.0486%	1h	153.04	−0.007%	$91K	—	20x	as long as short
Bybit SPCXUSDT	0.0000%	8h	153.10	+0.029%	$30.8M	$42.9M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.07	+0.009%	$96.3M	$31.3M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	153.11	+0.035%	$31.7M	$65.3M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.719%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	153.00	−0.037%	$302K	$2.9M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.30	+0.159%	$8K	$937K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.13	+0.048%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0022%	1h	153.04	−0.012%	$8K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	153.04	−0.010%	$1.6M	$7.3M	20x	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	152.99	−0.043%	$2.5M	$7.2M	20x	as long as short
BloFin SPCX-USDT	+0.0036%	8h	153.08	+0.016%	$1.9M	$1.4M	75x	as long as short
Arcus SPCX-USD	+0.0040%	1h	153.00	−0.037%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.08	+0.016%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0046%	1h	153.03	−0.017%	$1.2M	$6.1M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	153.03	−0.017%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.05	−0.004%	$1.7M	$96K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	153.09	+0.022%	$533K	$394K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.95	−0.069%	$3.2M	$2.5M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0062%	8h	153.08	+0.014%	$101	—	5x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0077%	1h	153.04	−0.010%	$73K	$1.2M	10x	as long as short
tradeXYZ xyz:SPCXshort	+0.0078%	1h	153.04	−0.010%	$141.4M	$119.0M	20x
Bullet SPCX-USD	+0.0084%	1h	153.08	+0.016%	$11K	$191K	10x	as long as short
Pacifica SPCX	+0.0100%	1h	152.97	−0.056%	$169K	$130K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.99	−0.043%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.01	−0.030%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.09	+0.022%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.07	+0.009%	$89	—	10x	as long as short
Nado SPCX-PERP	+0.0127%	1h	153.00	−0.038%	$617K	$823K	20x	as long as short
Variational Omni SPCX	+0.0143%	8h	153.06	+0.002%	$6.0M	$3.0M	—	as long as short
OKX SPCX-USDT-SWAP	+0.0150%	8h	153.09	+0.022%	$39.5M	$166.9M	75x	as long as short
Extended SPCX-USD	+0.0152%	1h	153.05	−0.002%	$738K	$3.8M	10x	as long as short
Binance SPCXUSDT	+0.0155%	8h	153.09	+0.022%	$252.2M	$1.37B	75x	as long as short
RISEx SPCX/USDC	+0.0191%	1h	153.11	+0.035%	$410K	$530K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	153.04	−0.010%	$738K	$925K	10x	as long as short
Phoenix SPCX	+0.0261%	1h	153.08	+0.016%	$445K	$268K	15x	as long as short
Aster SPCXUSD1	+0.0408%	8h	153.16	+0.068%	$18.9M	$20.2M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.35	+0.192%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDClong	+0.0807%	4h	153.06	long leg	$1.7M	$892K	20x