Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.021%

Price spread now: Orderly against Injective−2.925%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 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. Orderly is 2.925% cheaper against Injective than usual: you would sell low and buy high (spread −2.925% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$293 on $10k: about 5 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective SPCX/USDC PERP	157.25	0.0033	pay 0.0004% / 1h	44m 57s	$9K	$27K	5.5x
Short	Orderly PERP_SPCX_USDC_mythos	152.65	0.0100	get 0.0100% / 8h	1h 44m	$15K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Injective. 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 InjectivebpFee OrderlybpOrdersPrice spread, now −2.925%Rate

Funding earned: $14
Price spread: −2.925% → 0.000%: −$292.53
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$284.55
Costs to cover: 0.060%
Break-even: 149.3 days

Slippage unknown: Injective: no order-book sample; Orderly: 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 Injective no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Injective and Orderly: 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]	L −0.0335% / S +0.0533%	1h	152.63	−2.941%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.64	−2.932%	$96.5M	$30.8M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.51	+9.705%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.65	−2.925%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.86	−2.792%	$8K	$976K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.66	−2.919%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0024%	1h	152.59	−2.963%	$7K	$10K	10x	as long as short
Bullet SPCX-USD	+0.0028%	1h	152.65	−2.925%	$12K	$189K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.58	−2.970%	$1.6M	$7.1M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.58	−2.970%	$2.4M	$7.5M	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 PERPlong	+0.0033%	1h	157.25	long leg	$9K	$27K	5.5x
Vest SPCX-USD-PERP	+0.0046%	1h	152.67	−2.913%	—	$1.1M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.61	−2.951%	$489K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.64	−2.932%	$1.7M	$79K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.67	−2.913%	$539K	$404K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.45	−3.052%	$3.2M	$2.6M	10x	as long as short
QFEX SPCX-USD	+0.0066%	1h	152.62	−2.944%	$1.2M	$7.6M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0078%	8h	152.63	−2.938%	$101	—	5x	as long as short
BloFin SPCX-USDT	+0.0086%	8h	152.64	−2.932%	$1.9M	$1.4M	75x	as long as short
tradeXYZ xyz:SPCX	+0.0087%	1h	152.61	−2.951%	$129.8M	$107.4M	20x	as long as short
Pacifica SPCX	+0.0100%	1h	152.54	−2.995%	$175K	$130K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.52	−3.008%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.65	−2.925%	$58K	$270K	50x	as long as short
Orderly PERP_SPCX_USDC_mythosshort	+0.0100%	8h	152.65	−2.925%	$15K	$7K	10x
Aevo SPCX-PERP	+0.0104%	1h	152.66	−2.922%	$89	—	10x	as long as short
Bybit SPCXUSDT	+0.0141%	8h	152.68	−2.906%	$30.7M	$42.3M	100x	as long as short
OKX SPCX-USDT-SWAP	+0.0182%	8h	152.66	−2.919%	$38.9M	$168.4M	75x	as long as short
Variational Omni SPCX	+0.0187%	8h	152.61	−2.950%	$6.1M	$3.8M	—	as long as short
Binance SPCXUSDT	+0.0206%	8h	152.67	−2.913%	$256.1M	$1.38B	75x	as long as short
Nado SPCX-PERP	+0.0206%	1h	152.56	−2.985%	$625K	$875K	20x	as long as short
Extended SPCX-USD	+0.0208%	1h	152.64	−2.932%	$715K	$3.6M	10x	as long as short
Arcus SPCX-USD	+0.0227%	1h	152.58	−2.970%	$106K	$296K	5x	as long as short
Aster SPCXUSD1	+0.0244%	8h	152.72	−2.879%	$19.0M	$21.6M	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	152.71	−2.887%	$741K	$947K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0274%	1h	152.63	−2.938%	$70K	$1.1M	10x	as long as short
Phoenix SPCX	+0.0314%	1h	152.61	−2.951%	$445K	$196K	15x	as long as short
Bitget SPCXUSDT	+0.0324%	8h	152.67	−2.913%	$31.0M	$66.5M	75x	as long as short
edgeX SPCXUSDC	+0.0536%	4h	152.61	−2.948%	$1.7M	$894K	20x	as long as short
RISEx SPCX/USDC	+0.0543%	1h	152.70	−2.891%	$402K	$542K	20x	as long as short