Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0094%/8h= −10.3% APRpaid last 24h −0.006%

Price spread now: Phemex against Extended−0.025%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$440.445% of the position

Long on Extended Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.104%−$10 on $10k

Price spread, last 4 days (all we have)−0.088%−$9 · spread now −0.025%, 7d avg −0.035%

Together, before fees−0.192%+ Points / potential airdropExtended: Active · farm board−$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.035%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SPCX-USD	152.45	0.0144	pay 0.0018% / 1h	17m 27s	$731K	$4.2M	10x
Short	Phemex SPCXUSDT	152.41	0.0050	get 0.0050% / 8h	3h 17m	$531K	$392K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Extended. 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 ExtendedbpFee PhemexbpOrdersPrice spread, now −0.025%Rate

Funding earned: −$19.74
Price spread: −0.025% → −0.035%: $0.99
Slippage, 4 orders: −$27.46
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$63.2
Costs to cover: 0.445%
Break-even: never at this rate

Slippage from Extended: live order book, 1 min ago; Phemex: live order book, 35 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 Extended live order book, 1 min ago	0.99 bp	3.5 bp −$3	6.2 bp −$62	doesn't fit	doesn't fit
Sell Phemex live order book, 35 min ago	1.63 bp	13.0 bp −$13	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 −0.0265% / S +0.0494%	1h	152.35	−0.061%	$90K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.46	+0.008%	$96.3M	$31.6M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.52	+0.047%	$31.3M	$65.9M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+13.172%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.43	−0.012%	$300K	$2.9M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.62	+0.113%	$8K	$920K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.46	+0.008%	$1.3M	$1.8M	75x	as long as short
Bybit SPCXUSDT	+0.0017%	8h	152.50	+0.034%	$30.6M	$42.7M	100x	as long as short
BloFin SPCX-USDT	+0.0024%	8h	152.43	−0.012%	$1.9M	$1.3M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0030%	1h	152.37	−0.053%	$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	152.36	−0.058%	$2.5M	$7.4M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.35	−0.064%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.44	−0.005%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.42	−0.018%	$493K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.37	−0.051%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDTshort	+0.0050%	8h	152.41	−0.025%	$531K	$392K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.22	−0.149%	$3.2M	$2.4M	10x	as long as short
QFEX SPCX-USD	+0.0050%	1h	152.46	+0.008%	$1.2M	$5.7M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0057%	8h	152.49	+0.029%	$101	—	5x	as long as short
Lighter SPCX	+0.0096%	1h	152.39	−0.038%	$1.6M	$7.4M	20x	as long as short
Pacifica SPCX	+0.0100%	1h	152.35	−0.064%	$169K	$120K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.34	−0.071%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.30	−0.097%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.49	+0.028%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.40	−0.032%	$88	—	10x	as long as short
tradeXYZ xyz:SPCX	+0.0123%	1h	152.36	−0.058%	$131.4M	$128.2M	20x	as long as short
Variational Omni SPCX	+0.0131%	8h	152.45	0.000%	$6.0M	$2.9M	—	as long as short
Binance SPCXUSDT	+0.0144%	8h	152.49	+0.028%	$250.6M	$1.36B	75x	as long as short
Extended SPCX-USDlong	+0.0144%	1h	152.45	long leg	$731K	$4.2M	10x
OKX SPCX-USDT-SWAP	+0.0147%	8h	152.50	+0.034%	$39.4M	$166.4M	75x	as long as short
Nado SPCX-PERP	+0.0207%	1h	152.34	−0.069%	$613K	$802K	20x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0210%	1h	152.39	−0.038%	$86K	$1.2M	10x	as long as short
RISEx SPCX/USDC	+0.0217%	1h	152.50	+0.038%	$408K	$517K	20x	as long as short
Bullet SPCX-USD	+0.0217%	1h	152.49	+0.028%	$11K	$192K	10x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0248%	1h	152.44	−0.005%	$739K	$931K	10x	as long as short
Phoenix SPCX	+0.0261%	1h	152.37	−0.051%	$443K	$264K	15x	as long as short
Aster SPCXUSD1	+0.0433%	8h	152.57	+0.080%	$18.9M	$24.0M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.19	+0.487%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0459%	4h	152.44	−0.004%	$1.7M	$892K	20x	as long as short