Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0118%/8h= −12.9% APRpaid last 24h +0.032%

Price spread now: Deribit against OKX−0.033%7-day average −0.003% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$280.275% of the position

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.108%+$11 on $10k

Price spread, last 3 days (all we have)+0.063%+$6 · spread now −0.033%, 7d avg −0.003%

Together, before fees+0.171%+$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Deribit is 0.029% cheaper against OKX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.003%). Swap the legs. Mind the row above: over the last 5 days funding on this pair paid +0.108%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SPCX-USDT-SWAP	152.95	0.0195	pay 0.0195% / 8h	6h 38m	$39.4M	$168.8M	75x
Short	Deribit SPCX_USDC-PERPETUAL	152.90	0.0077	get 0.0010% / 1h	38m 50s	$72K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against OKX. 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 OKXbpFee DeribitbpOrdersPrice spread, now −0.033%Rate

Funding earned: −$24.73
Price spread: −0.033% → −0.003%: −$2.95
Slippage, 4 orders: −$10.5
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$55.18
Costs to cover: 0.275%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Deribit: live order book, 5 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 OKX live order book, 5 min ago	0.33 bp	5.6 bp −$6	7.3 bp −$73	16.5 bp −$1,655	doesn't fit
Sell Deribit live order book, 5 min ago	4.25 bp	8.3 bp −$8	11.5 bp −$115	doesn't fit	doesn't fit

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 −0.0345% / S +0.0540%	1h	152.93	−0.016%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.92	−0.020%	$96.2M	$31.2M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+12.796%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.90	−0.033%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.20	+0.163%	$8K	$949K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.93	−0.013%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0024%	1h	152.95	−0.002%	$7K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.90	−0.033%	$1.6M	$7.2M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.88	−0.046%	$2.5M	$7.2M	20x	as long as short
Injective SPCX/USDC PERP	+0.0033%	1h	153.32	+0.242%	$9K	$27K	5.5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus SPCX-USD	+0.0040%	1h	152.92	−0.020%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.96	+0.007%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0049%	1h	152.93	−0.013%	$1.2M	$6.9M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.90	−0.033%	$500K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.93	−0.013%	$1.7M	$89K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.96	+0.007%	$534K	$406K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.82	−0.085%	$3.2M	$2.6M	10x	as long as short
Bybit SPCXUSDT	+0.0057%	8h	152.95	0.000%	$30.9M	$42.9M	100x	as long as short
Deribit SPCX_USDC-PERPETUALshort	+0.0077%	1h	152.90	−0.033%	$72K	$1.1M	10x
Paradex SPCX-USD-PERP	+0.0080%	8h	152.95	−0.003%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.85	−0.065%	$169K	$133K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.88	−0.046%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.05	+0.065%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.95	0.000%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.95	+0.001%	$89	—	10x	as long as short
BloFin SPCX-USDT	+0.0116%	8h	153.03	+0.052%	$1.9M	$1.4M	75x	as long as short
Bullet SPCX-USD	+0.0124%	1h	152.94	−0.007%	$11K	$190K	10x	as long as short
tradeXYZ xyz:SPCX	+0.0141%	1h	152.92	−0.020%	$142.3M	$119.1M	20x	as long as short
OKX SPCX-USDT-SWAPlong	+0.0195%	8h	152.95	long leg	$39.4M	$168.8M	75x
Bitget SPCXUSDT	+0.0196%	8h	152.97	+0.013%	$31.8M	$66.4M	75x	as long as short
Variational Omni SPCX	+0.0211%	8h	152.99	+0.027%	$6.0M	$3.3M	—	as long as short
Binance SPCXUSDT	+0.0224%	8h	152.94	−0.005%	$252.7M	$1.37B	75x	as long as short
Extended SPCX-USD	+0.0224%	1h	152.90	−0.030%	$736K	$3.8M	10x	as long as short
Nado SPCX-PERP	+0.0244%	1h	152.88	−0.048%	$620K	$841K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0288%	1h	153.14	+0.124%	$728K	$969K	10x	as long as short
Phoenix SPCX	+0.0314%	1h	152.98	+0.020%	$445K	$270K	15x	as long as short
Aster SPCXUSD1	+0.0390%	8h	153.03	+0.051%	$19.0M	$16.6M	20x	as long as short
RISEx SPCX/USDC	+0.0410%	1h	152.98	+0.022%	$408K	$539K	20x	as long as short
edgeX SPCXUSDC	+0.0591%	4h	153.01	+0.040%	$1.7M	$892K	20x	as long as short