Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0121%/8h= −13.3% APRpaid last 24h −0.028%

Price spread now: BloFin against Lighter+0.066%90s7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as 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−$150.151% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.283%−$28 on $10k

Price spread, last 4 days (all we have)−0.098%−$10 · spread now +0.066%, 7d avg +0.025%

Together, before fees−0.382%+ Points / potential airdropLighter: Season 3 · farm board−$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.041% dearer against Lighter than usual: you sell high and buy low (spread +0.066% now, against its 7-day average of +0.025%): +$4 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 27 hours. The two prices were read 90 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	Lighter SPCX	152.51	0.0096	pay 0.0012% / 1h	51m 18s	$1.6M	$7.3M	20x
Short	BloFin SPCX-USDT	152.61	−0.0025	pay 0.0025% / 8h	1h 51m	$1.9M	$1.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Lighter. 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 LighterbpFee BloFinbpOrdersPrice spread, now +0.066%Rate

Funding earned: −$25.42
Price spread: +0.066% → +0.025%: $4.09
Slippage, 4 orders: −$3.06
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$36.4
Costs to cover: 0.151%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; BloFin: live order book, 1 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 Lighter live order book, 7 min ago	0.65 bp	1.1 bp −$1	2.5 bp −$25	8.9 bp −$892	doesn't fit
Sell BloFin live order book, 1 min ago	0.65 bp	6.7 bp −$7	6.7 bp −$67	7.9 bp −$794	14.0 bp −$6,989

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 −0.0187% / S +0.0435%	1h	152.53	+0.010%	$90K	—	20x	as long as short
BloFin SPCX-USDTshort	−0.0025%	8h	152.61	+0.066%	$1.9M	$1.2M	75x
Bybit SPCXUSDT	0.0000%	8h	152.62	+0.072%	$30.6M	$42.7M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.59	+0.052%	$96.2M	$31.8M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.63	+0.079%	$31.2M	$66.0M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+13.127%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.63	+0.079%	$300K	$2.7M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.84	+0.216%	$8K	$897K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.64	+0.085%	$1.3M	$1.8M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0019%	1h	152.52	+0.008%	$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	152.49	−0.013%	$2.5M	$7.2M	20x	as long as short
QFEX SPCX-USD	+0.0038%	1h	152.57	+0.039%	$1.2M	$5.5M	10x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.53	+0.013%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.57	+0.039%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.58	+0.046%	$487K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.60	+0.059%	$1.7M	$96K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.53	+0.013%	$530K	$383K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.44	−0.046%	$3.2M	$2.3M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0067%	8h	152.63	+0.076%	$101	—	5x	as long as short
RISEx SPCX/USDC	+0.0072%	1h	152.62	+0.075%	$408K	$505K	20x	as long as short
Variational Omni SPCX	+0.0073%	8h	152.63	+0.078%	$6.0M	$2.8M	—	as long as short
tradeXYZ xyz:SPCX	+0.0080%	1h	152.53	+0.013%	$130.1M	$129.0M	20x	as long as short
Lighter SPCXlong	+0.0096%	1h	152.51	long leg	$1.6M	$7.3M	20x
Extended SPCX-USD	+0.0096%	1h	152.60	+0.058%	$732K	$4.6M	10x	as long as short
Binance SPCXUSDT	+0.0097%	8h	152.64	+0.085%	$250.2M	$1.36B	75x	as long as short
Pacifica SPCX	+0.0100%	1h	152.48	−0.020%	$169K	$118K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.50	−0.007%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.63	+0.079%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.61	+0.066%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.61	+0.065%	$89	—	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0111%	8h	152.63	+0.079%	$39.6M	$166.9M	75x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0192%	1h	152.62	+0.072%	$726K	$932K	10x	as long as short
Phoenix SPCX	+0.0210%	1h	152.55	+0.026%	$443K	$266K	15x	as long as short
Nado SPCX-PERP	+0.0215%	1h	152.45	−0.039%	$613K	$801K	20x	as long as short
Bullet SPCX-USD	+0.0241%	1h	152.64	+0.087%	$11K	$192K	10x	as long as short
Aster SPCXUSD1	+0.0356%	8h	152.75	+0.157%	$18.9M	$25.5M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.89	+0.249%	$9K	$28K	5.5x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0471%	1h	152.58	+0.046%	$89K	$1.3M	10x	as long as short
edgeX SPCXUSDC	+0.0570%	4h	152.58	+0.044%	$1.7M	$892K	20x	as long as short