Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0153%/8h= −16.8% APRpaid last 24h −0.027%

Price spread now: Bybit against Nado+0.085%59s7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$270.267% of the position

Long on Nado Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.055%−$6 on $10k

Price spread, last 7 days−0.117%−$12 · spread now +0.085%, 7d avg +0.006%

Together, before fees−0.172%+ Points / potential airdropNado: Active · farm board−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.078% dearer against Nado than usual: you sell high and buy low (spread +0.085% now, against its 7-day average of +0.006%): +$8 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 41 hours. At the pace of the last 3 days (−0.055% in total) that is about 4.7 days. The two prices were read 59 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	Nado SPCX-PERP	152.98	0.0245	pay 0.0031% / 1h	16m 34s	$622K	$838K	20x
Short	Bybit SPCXUSDT	153.11	0.0091	get 0.0091% / 8h	6h 16m	$30.8M	$42.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Nado. 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 NadobpFee BybitbpOrdersPrice spread, now +0.085%Rate

Funding earned: −$32.21
Price spread: +0.085% → +0.006%: $7.83
Slippage, 4 orders: −$8.7
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$51.08
Costs to cover: 0.267%
Break-even: never at this rate

Slippage from Nado: live order book, 52 min ago; Bybit: live order book, 2 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 Nado live order book, 52 min ago	0.33 bp	6.3 bp −$6	20.8 bp −$208	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.33 bp	6.7 bp −$7	8.8 bp −$88	33.7 bp −$3,373	doesn't fit

SPCX on 38 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 −0.0346% / S +0.0541%	1h	153.04	+0.042%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.06	+0.052%	$96.0M	$31.3M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.776%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.96	−0.013%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.33	+0.228%	$8K	$944K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.13	+0.098%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0024%	1h	152.99	+0.003%	$8K	$8K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	153.02	+0.026%	$2.5M	$7.3M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	153.32	+0.222%	$9K	$27K	5.5x	as long as short
Lighter SPCX	+0.0040%	1h	153.04	+0.039%	$1.6M	$7.2M	20x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus SPCX-USD	+0.0040%	1h	153.02	+0.026%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.05	+0.045%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0049%	1h	153.05	+0.045%	$1.2M	$6.7M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	153.04	+0.039%	$501K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.07	+0.058%	$1.7M	$91K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	153.10	+0.078%	$534K	$405K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.94	−0.026%	$3.2M	$2.6M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0090%	8h	153.09	+0.075%	$101	—	5x	as long as short
Bybit SPCXUSDTshort	+0.0091%	8h	153.11	+0.085%	$30.8M	$42.9M	100x
Pacifica SPCX	+0.0100%	1h	152.98	0.000%	$169K	$133K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	153.00	+0.013%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.12	+0.091%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.09	+0.072%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.08	+0.067%	$89	—	10x	as long as short
edgeX SPCXUSDC	+0.0115%	4h	153.07	+0.056%	$1.7M	$893K	20x	as long as short
Bitget SPCXUSDT	+0.0138%	8h	153.12	+0.091%	$31.9M	$66.1M	75x	as long as short
Bullet SPCX-USD	+0.0176%	1h	153.10	+0.078%	$11K	$190K	10x	as long as short
tradeXYZ xyz:SPCX	+0.0185%	1h	153.04	+0.039%	$142.4M	$119.1M	20x	as long as short
OKX SPCX-USDT-SWAP	+0.0200%	8h	153.11	+0.085%	$39.4M	$168.8M	75x	as long as short
Variational Omni SPCX	+0.0208%	8h	153.07	+0.056%	$6.0M	$3.3M	—	as long as short
Binance SPCXUSDT	+0.0223%	8h	153.10	+0.078%	$252.9M	$1.37B	75x	as long as short
Extended SPCX-USD	+0.0224%	1h	153.05	+0.046%	$736K	$3.8M	10x	as long as short
Nado SPCX-PERPlong	+0.0245%	1h	152.98	long leg	$622K	$838K	20x
Deribit SPCX_USDC-PERPETUAL	+0.0273%	1h	153.02	+0.026%	$72K	$1.1M	10x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0288%	1h	152.97	−0.007%	$738K	$973K	10x	as long as short
Phoenix SPCX	+0.0314%	1h	153.09	+0.072%	$445K	$270K	15x	as long as short
RISEx SPCX/USDC	+0.0410%	1h	153.12	+0.089%	$408K	$539K	20x	as long as short
Aster SPCXUSD1	+0.0413%	8h	153.14	+0.107%	$19.0M	$15.0M	20x	as long as short