Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0324%/8h= +35.5% APRpaid last 24h +0.097%

Price spread now: KuCoin against GMX−0.023%7-day average — · you buy dearer than you sell

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

Long on GMX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. KuCoin is 0.023% cheaper against GMX than usual: you would sell low and buy high (spread −0.023% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 6 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SPCX/USD [ETH-USDC]	152.40	L −0.0224% / S +0.0463%	get 0.0028% / 1h	2m 56s	$90K	—	20x
Short	KuCoin SPCXUSDTM	152.36	0.0100	get 0.0100% / 8h	3h 02m	$13.0M	$5.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against GMX. 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 GMXbpFee KuCoinbpOrdersPrice spread, now −0.023%Rate

Funding earned: $68.03
Price spread: −0.023% → 0.000%: −$2.3
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $41.73
Costs to cover: 0.240%
Break-even: 2.7 days

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 11 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 GMX no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 11 min ago	0.66 bp	11.5 bp −$12	43.2 bp −$432	doesn't fit	doesn't fit

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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]long	L −0.0224% / S +0.0463%	1h	152.40	long leg	$90K	—	20x
Gate SPCX_USDT	0.0000%	8h	152.48	+0.056%	$96.2M	$31.7M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.53	+0.089%	$31.3M	$65.9M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+13.211%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.55	+0.102%	$300K	$2.9M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.63	+0.154%	$8K	$916K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.60	+0.135%	$1.3M	$1.8M	75x	as long as short
Bybit SPCXUSDT	+0.0003%	8h	152.49	+0.062%	$30.6M	$42.7M	100x	as long as short
BloFin SPCX-USDT	+0.0013%	8h	152.55	+0.102%	$1.9M	$1.3M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0028%	1h	152.39	−0.005%	$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	152.41	+0.010%	$2.5M	$7.4M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.41	+0.010%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.49	+0.062%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.45	+0.036%	$490K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.46	+0.043%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.50	+0.069%	$532K	$388K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.33	−0.043%	$3.2M	$2.3M	10x	as long as short
QFEX SPCX-USD	+0.0050%	1h	152.47	+0.049%	$1.2M	$5.7M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0055%	8h	152.52	+0.084%	$101	—	5x	as long as short
Lighter SPCX	+0.0056%	1h	152.44	+0.030%	$1.6M	$7.5M	20x	as long as short
tradeXYZ xyz:SPCX	+0.0059%	1h	152.38	−0.010%	$131.0M	$128.4M	20x	as long as short
Pacifica SPCX	+0.0100%	1h	152.44	+0.030%	$169K	$120K	10x	as long as short
KuCoin SPCXUSDTMshort	+0.0100%	8h	152.36	−0.023%	$13.0M	$5.4M	20x
ApeX Omni SPCXUSDT	+0.0100%	1h	152.45	+0.036%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.51	+0.075%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.48	+0.056%	$88	—	10x	as long as short
Variational Omni SPCX	+0.0125%	8h	152.47	+0.048%	$6.0M	$2.9M	—	as long as short
Binance SPCXUSDT	+0.0133%	8h	152.50	+0.069%	$250.6M	$1.36B	75x	as long as short
Extended SPCX-USD	+0.0136%	1h	152.47	+0.049%	$731K	$4.6M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0140%	8h	152.52	+0.082%	$39.4M	$166.3M	75x	as long as short
Nado SPCX-PERP	+0.0186%	1h	152.43	+0.023%	$613K	$803K	20x	as long as short
Bullet SPCX-USD	+0.0192%	1h	152.51	+0.073%	$11K	$192K	10x	as long as short
RISEx SPCX/USDC	+0.0217%	1h	152.54	+0.097%	$408K	$522K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0248%	1h	152.44	+0.030%	$739K	$931K	10x	as long as short
Phoenix SPCX	+0.0261%	1h	152.42	+0.016%	$443K	$264K	15x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0275%	1h	152.45	+0.036%	$87K	$1.2M	10x	as long as short
Aster SPCXUSD1	+0.0404%	8h	152.57	+0.115%	$18.9M	$24.0M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.19	+0.522%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0883%	4h	152.48	+0.058%	$1.7M	$893K	20x	as long as short