Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.018%

Price spread now: Orderly against Lighter+0.026%7-day average — · you sell dearer than you buy

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

Long on Lighter 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—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Orderly is 0.026% dearer against Lighter than usual: you sell high and buy low: +$3 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	Lighter SPCX	152.44	0.0088	pay 0.0011% / 1h	42m 11s	$1.6M	$7.4M	20x
Short	Orderly PERP_SPCX_USDC_mythos	152.48	0.0100	get 0.0100% / 8h	1h 42m	$14K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.026%Rate

Funding earned: $2.52
Price spread: +0.026% → 0.000%: $2.62
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$0.86
Costs to cover: 0.060%
Break-even: 9.4 days

Slippage unknown: Lighter: live order book, 6 min ago; 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 Lighter live order book, 6 min ago	0.33 bp	0.8 bp −$1	2.3 bp −$23	8.6 bp −$856	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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 −0.0187% / S +0.0435%	1h	152.41	−0.023%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0017%	8h	152.57	+0.085%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.49	+0.033%	$30.6M	$42.7M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.46	+0.013%	$96.1M	$31.8M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.49	+0.033%	$31.2M	$66.0M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+13.179%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.57	+0.085%	$300K	$2.7M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.81	+0.243%	$8K	$897K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.54	+0.066%	$1.3M	$1.8M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0021%	1h	152.50	+0.041%	$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	152.42	−0.013%	$2.5M	$7.3M	20x	as long as short
QFEX SPCX-USD	+0.0038%	1h	152.48	+0.026%	$1.2M	$5.5M	10x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.48	+0.026%	$103K	$299K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.45	+0.007%	—	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.49	+0.033%	$1.7M	$97K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.47	+0.020%	$531K	$383K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.39	−0.033%	$3.2M	$2.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0068%	1h	152.48	+0.026%	$487K	$1.2M	10x	as long as short
RISEx SPCX/USDC	+0.0072%	1h	152.53	+0.056%	$408K	$498K	20x	as long as short
Paradex SPCX-USD-PERP	+0.0077%	8h	152.52	+0.050%	$101	—	5x	as long as short
tradeXYZ xyz:SPCX	+0.0079%	1h	152.40	−0.026%	$130.0M	$129.1M	20x	as long as short
Variational Omni SPCX	+0.0084%	8h	152.58	+0.091%	$6.0M	$2.8M	—	as long as short
Lighter SPCXlong	+0.0088%	1h	152.44	long leg	$1.6M	$7.4M	20x
Pacifica SPCX	+0.0100%	1h	152.45	+0.007%	$169K	$118K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.42	−0.013%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.45	+0.007%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythosshort	+0.0100%	8h	152.48	+0.026%	$14K	$7K	10x
Binance SPCXUSDT	+0.0103%	8h	152.49	+0.033%	$250.7M	$1.36B	75x	as long as short
Extended SPCX-USD	+0.0104%	1h	152.47	+0.017%	$733K	$4.3M	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.49	+0.031%	$88	—	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0115%	8h	152.50	+0.039%	$39.6M	$166.7M	75x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0192%	1h	152.62	+0.118%	$726K	$932K	10x	as long as short
Phoenix SPCX	+0.0210%	1h	152.56	+0.079%	$443K	$266K	15x	as long as short
Nado SPCX-PERP	+0.0226%	1h	152.40	−0.024%	$627K	$808K	20x	as long as short
Bullet SPCX-USD	+0.0257%	1h	152.50	+0.039%	$11K	$192K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0341%	1h	152.45	+0.007%	$89K	$1.3M	10x	as long as short
Aster SPCXUSD1	+0.0364%	8h	152.65	+0.140%	$18.9M	$26.3M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.89	+0.295%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0976%	4h	152.55	+0.071%	$1.7M	$893K	20x	as long as short