Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0424%/8h= +46.4% APRpaid last 24h +0.086%

Price spread now: Paradex against GMX+0.022%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Paradex

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—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Paradex is 0.022% dearer against GMX than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SPCX/USD [ETH-USDC]	152.96	L −0.0346% / S +0.0541%	get 0.0043% / 1h	36m 31s	$88K	—	20x
Short	Paradex SPCX-USD-PERP	152.99	0.0078	get 0.0078% / 8h	6h 36m	$101	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.022%Rate

Funding earned: $89.04
Price spread: +0.022% → 0.000%: $2.22
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: $75.26
Costs to cover: 0.160%
Break-even: 1.1 days

Slippage unknown: GMX: no order-book sample; Paradex: no order-book sample. 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 Paradex no order-book sample	—	—	—	—	—

GMX and Paradex: 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 −0.0346% / S +0.0541%	1h	152.96	long leg	$88K	—	20x
Gate SPCX_USDT	0.0000%	8h	152.98	+0.016%	$96.1M	$31.2M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.793%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.88	−0.049%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.20	+0.160%	$8K	$948K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.02	+0.042%	$1.3M	$1.7M	75x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0012%	1h	152.93	−0.016%	$72K	$1.1M	10x	as long as short
Aftermath Perps SPCXUSD	+0.0025%	1h	152.95	−0.005%	$7K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.94	−0.010%	$1.6M	$7.2M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.92	−0.023%	$2.5M	$7.2M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective SPCX/USDC PERP	+0.0033%	1h	153.32	+0.239%	$9K	$27K	5.5x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.91	−0.029%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.99	+0.023%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0049%	1h	152.97	+0.010%	$1.2M	$6.8M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.95	−0.003%	$501K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.96	+0.003%	$1.7M	$89K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.96	+0.003%	$534K	$406K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.80	−0.101%	$3.2M	$2.6M	10x	as long as short
Bybit SPCXUSDT	+0.0056%	8h	153.01	+0.036%	$30.9M	$42.9M	100x	as long as short
Paradex SPCX-USD-PERPshort	+0.0078%	8h	152.99	+0.022%	$101	—	5x
Pacifica SPCX	+0.0100%	1h	152.91	−0.029%	$169K	$133K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.90	−0.036%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.85	−0.069%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.01	+0.036%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.96	+0.003%	$89	—	10x	as long as short
BloFin SPCX-USDT	+0.0116%	8h	153.03	+0.049%	$1.9M	$1.4M	75x	as long as short
Bullet SPCX-USD	+0.0123%	1h	153.01	+0.036%	$11K	$190K	10x	as long as short
tradeXYZ xyz:SPCX	+0.0139%	1h	152.95	−0.003%	$142.3M	$119.1M	20x	as long as short
Bitget SPCXUSDT	+0.0183%	8h	153.04	+0.056%	$31.8M	$66.3M	75x	as long as short
OKX SPCX-USDT-SWAP	+0.0192%	8h	153.01	+0.036%	$39.4M	$168.9M	75x	as long as short
Variational Omni SPCX	+0.0211%	8h	152.99	+0.024%	$6.0M	$3.3M	—	as long as short
Binance SPCXUSDT	+0.0220%	8h	153.02	+0.040%	$252.8M	$1.37B	75x	as long as short
Extended SPCX-USD	+0.0224%	1h	152.97	+0.007%	$736K	$3.8M	10x	as long as short
Nado SPCX-PERP	+0.0240%	1h	152.91	−0.031%	$620K	$840K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0288%	1h	153.14	+0.121%	$728K	$969K	10x	as long as short
Phoenix SPCX	+0.0314%	1h	152.98	+0.016%	$445K	$270K	15x	as long as short
Aster SPCXUSD1	+0.0389%	8h	153.07	+0.073%	$19.0M	$16.3M	20x	as long as short
RISEx SPCX/USDC	+0.0410%	1h	153.02	+0.043%	$408K	$539K	20x	as long as short
edgeX SPCXUSDC	+0.0965%	4h	152.93	−0.015%	$1.7M	$893K	20x	as long as short