Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0031%/8h= +3.4% APRpaid last 24h +0.004%

Price spread now: Variational Omni against Ondo Perps+0.091%7-day average +0.062% · you sell dearer than you buy

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

Long on Ondo Perps Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.050%−$5 on $10k

Price spread, last 7 days−0.055%−$6 · spread now +0.091%, 7d avg +0.062%

Together, before fees−0.105%+ Points / potential airdropOndo Perps: Active · Variational Omni: Active · farm board−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Variational Omni is 0.029% dearer against Ondo Perps than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.062%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps SPCX-USD.P	152.59	0.0050	pay 0.0006% / 1h	3m 58s	$3.2M	$2.3M	10x
Short	Variational Omni SPCX	152.73	0.0081	get 0.0081% / 8h	2h 03m	$6.0M	$2.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Ondo Perps. 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 Ondo PerpsbpFee Variational OmnibpOrdersPrice spread, now +0.091%Rate

Funding earned: $6.46
Price spread: +0.091% → +0.062%: $2.88
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $4.33
Costs to cover: 0.050%
Break-even: 2.3 days

Slippage unknown: Ondo Perps: no order-book sample; Variational Omni: RFQ quote, just now. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, just now	2.36 bp	doesn't fit	2.7 bp −$27	doesn't fit	doesn't fit

Ondo Perps: 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	152.63	+0.029%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0023%	8h	152.68	+0.059%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.71	+0.079%	$30.6M	$42.7M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.69	+0.066%	$96.2M	$31.9M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.72	+0.085%	$31.2M	$65.9M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+13.069%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.78	+0.125%	$301K	$2.7M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.94	+0.229%	$8K	$897K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	0.0000%	1h	152.66	+0.046%	$88K	$1.3M	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.80	+0.138%	$1.3M	$1.8M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX SPCXUSDC	+0.0007%	4h	152.75	+0.107%	$1.7M	$892K	20x	as long as short
Aftermath Perps SPCXUSD	+0.0017%	1h	152.68	+0.060%	$7K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.66	+0.046%	$1.6M	$7.4M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.64	+0.033%	$2.5M	$7.3M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.65	+0.039%	$105K	$297K	5x	as long as short
QFEX SPCX-USD	+0.0043%	1h	152.69	+0.066%	$1.2M	$5.5M	10x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.75	+0.105%	—	$1.2M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.63	+0.026%	$130.2M	$129.0M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.68	+0.059%	$488K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.67	+0.052%	$1.7M	$96K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.71	+0.079%	$531K	$385K	50x	as long as short
Ondo Perps SPCX-USD.Plong	+0.0050%	1h	152.59	long leg	$3.2M	$2.3M	10x
Paradex SPCX-USD-PERP	+0.0056%	8h	152.72	+0.086%	$101	—	5x	as long as short
Variational Omni SPCXshort	+0.0081%	8h	152.73	+0.091%	$6.0M	$2.8M	—
Nado SPCX-PERP	+0.0094%	1h	152.69	+0.065%	$613K	$801K	20x	as long as short
Binance SPCXUSDT	+0.0096%	8h	152.73	+0.090%	$250.1M	$1.36B	75x	as long as short
Extended SPCX-USD	+0.0096%	1h	152.67	+0.050%	$731K	$4.6M	10x	as long as short
Pacifica SPCX	+0.0100%	1h	152.66	+0.046%	$169K	$118K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.60	+0.007%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.69	+0.066%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.75	+0.105%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.71	+0.076%	$89	—	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0110%	8h	152.74	+0.098%	$39.6M	$166.9M	75x	as long as short
Bullet SPCX-USD	+0.0120%	1h	152.73	+0.092%	$11K	$193K	10x	as long as short
RISEx SPCX/USDC	+0.0238%	1h	152.76	+0.115%	$409K	$513K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0248%	1h	152.70	+0.072%	$731K	$938K	10x	as long as short
Phoenix SPCX	+0.0263%	1h	152.77	+0.118%	$444K	$266K	15x	as long as short
Aster SPCXUSD1	+0.0352%	8h	152.77	+0.115%	$18.9M	$24.8M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.00	+0.269%	$9K	$28K	5.5x	as long as short