Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: Phemex against Pacifica+0.039%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$380.385% of the position

Long on Pacifica Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.131%−$13 on $10k

Price spread, last 3 days (all we have)−0.120%−$12 · spread now +0.039%, 7d avg −0.010%

Together, before fees−0.252%+ Points / potential airdropPacifica: Active · farm board−$25 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.049% dearer against Pacifica than usual: you sell high and buy low (spread +0.039% now, against its 7-day average of −0.010%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica SPCX	152.54	0.0100	pay 0.0013% / 1h	47m 42s	$175K	$130K	10x
Short	Phemex SPCXUSDT	152.60	0.0050	get 0.0050% / 8h	1h 47m	$539K	$405K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Pacifica. 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 PacificabpFee PhemexbpOrdersPrice spread, now +0.039%Rate

Funding earned: −$10.5
Price spread: +0.039% → −0.010%: $4.94
Slippage, 4 orders: −$18.45
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$44.01
Costs to cover: 0.385%
Break-even: never at this rate

Slippage from Pacifica: live order book, 35 min ago; Phemex: live order book, 35 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 Pacifica live order book, 35 min ago	0.33 bp	5.7 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 35 min ago	2.29 bp	13.7 bp −$14	doesn't fit	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 −0.0335% / S +0.0533%	1h	152.59	+0.036%	$88K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.60	+0.039%	$96.5M	$30.8M	100x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.51	+13.091%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.67	+0.085%	$302K	$3.1M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.79	+0.164%	$8K	$977K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.62	+0.052%	$1.3M	$1.7M	75x	as long as short
Bullet SPCX-USD	+0.0018%	1h	152.62	+0.052%	$12K	$189K	10x	as long as short
Aftermath Perps SPCXUSD	+0.0024%	1h	152.59	+0.032%	$7K	$10K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.56	+0.013%	$1.6M	$7.1M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.55	+0.007%	$2.4M	$7.5M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective SPCX/USDC PERP	+0.0033%	1h	157.25	+3.088%	$9K	$27K	5.5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.67	+0.085%	—	$1.1M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.61	+0.046%	$489K	$1.1M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.60	+0.039%	$1.7M	$79K	20x	as long as short
Phemex SPCXUSDTshort	+0.0050%	8h	152.60	+0.039%	$539K	$405K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.47	−0.046%	$3.2M	$2.6M	10x	as long as short
QFEX SPCX-USD	+0.0066%	1h	152.61	+0.046%	$1.2M	$7.6M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0079%	8h	152.61	+0.045%	$101	—	5x	as long as short
tradeXYZ xyz:SPCX	+0.0081%	1h	152.58	+0.026%	$129.8M	$107.4M	20x	as long as short
BloFin SPCX-USDT	+0.0089%	8h	152.64	+0.066%	$1.9M	$1.4M	75x	as long as short
Pacifica SPCXlong	+0.0100%	1h	152.54	long leg	$175K	$130K	10x
KuCoin SPCXUSDTM	+0.0100%	8h	152.50	−0.026%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.57	+0.020%	$58K	$270K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.63	+0.059%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.64	+0.065%	$89	—	10x	as long as short
Bybit SPCXUSDT	+0.0143%	8h	152.63	+0.059%	$30.7M	$42.3M	100x	as long as short
OKX SPCX-USDT-SWAP	+0.0183%	8h	152.62	+0.052%	$38.9M	$168.1M	75x	as long as short
Variational Omni SPCX	+0.0191%	8h	152.62	+0.054%	$6.1M	$3.9M	—	as long as short
Nado SPCX-PERP	+0.0203%	1h	152.56	+0.012%	$625K	$875K	20x	as long as short
Binance SPCXUSDT	+0.0208%	8h	152.62	+0.055%	$256.0M	$1.38B	75x	as long as short
Extended SPCX-USD	+0.0208%	1h	152.60	+0.039%	$715K	$3.6M	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0209%	1h	152.61	+0.046%	$70K	$1.1M	10x	as long as short
Arcus SPCX-USD	+0.0227%	1h	152.55	+0.007%	$106K	$296K	5x	as long as short
Aster SPCXUSD1	+0.0244%	8h	152.69	+0.098%	$19.0M	$21.5M	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	152.71	+0.111%	$741K	$947K	10x	as long as short
Phoenix SPCX	+0.0314%	1h	152.63	+0.059%	$445K	$196K	15x	as long as short
Bitget SPCXUSDT	+0.0326%	8h	152.64	+0.066%	$31.0M	$66.5M	75x	as long as short
RISEx SPCX/USDC	+0.0543%	1h	152.69	+0.099%	$402K	$542K	20x	as long as short
edgeX SPCXUSDC	+0.0618%	4h	152.62	+0.053%	$1.7M	$893K	20x	as long as short