Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0091%/8h= +10.0% APRpaid last 24h +0.039%

Price spread now: Phoenix against Paradex+0.021%46s7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Phoenix is 0.021% dearer against Paradex than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 46 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	Paradex SPCX-USD-PERP	152.32	0.0118	pay 0.0118% / 8h	54m 31s	$101	—	5x
Short	Phoenix SPCX	152.35	0.0210	get 0.0026% / 1h	54m 31s	$443K	$266K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Paradex. 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 ParadexbpFee PhoenixbpOrdersPrice spread, now +0.021%Rate

Funding earned: $19.15
Price spread: +0.021% → 0.000%: $2.06
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $10.21
Costs to cover: 0.110%
Break-even: 3.3 days

Slippage unknown: Paradex: no order-book sample; Phoenix: live order book, 48 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 48 min ago	0.33 bp	6.1 bp −$6	19.7 bp −$197	doesn't fit	doesn't fit

Paradex: 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 −0.0234% / S +0.0471%	1h	152.24	−0.055%	$90K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.29	−0.019%	$96.1M	$31.7M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.38	+0.040%	$31.2M	$66.2M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+13.271%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.31	−0.006%	$300K	$2.7M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.51	+0.126%	$8K	$894K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.39	+0.047%	$1.3M	$1.8M	75x	as long as short
Bybit SPCXUSDT	+0.0015%	8h	152.33	+0.007%	$30.5M	$42.7M	100x	as long as short
BloFin SPCX-USDT	+0.0025%	8h	152.41	+0.060%	$1.9M	$1.2M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0029%	1h	152.25	−0.044%	$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	152.25	−0.045%	$2.5M	$7.2M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.24	−0.052%	$103K	$298K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.30	−0.012%	—	$1.2M	10x	as long as short
Lighter SPCX	+0.0048%	1h	152.27	−0.032%	$1.6M	$7.3M	20x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.24	−0.052%	$129.9M	$129.1M	20x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.28	−0.025%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.32	+0.001%	$530K	$375K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.17	−0.098%	$3.2M	$2.2M	10x	as long as short
QFEX SPCX-USD	+0.0070%	1h	152.29	−0.019%	$1.2M	$5.5M	10x	as long as short
Pacifica SPCX	+0.0100%	1h	152.22	−0.065%	$168K	$120K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.19	−0.084%	$13.0M	$5.6M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.23	−0.058%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.31	−0.006%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.28	−0.024%	$88	—	10x	as long as short
Polymarket Perps SPCX-USD	+0.0106%	1h	152.31	−0.006%	$487K	$1.2M	10x	as long as short
Paradex SPCX-USD-PERPlong	+0.0118%	8h	152.32	long leg	$101	—	5x
Variational Omni SPCX	+0.0132%	8h	152.31	−0.008%	$5.9M	$2.8M	—	as long as short
Bullet SPCX-USD	+0.0141%	1h	152.31	−0.006%	$11K	$192K	10x	as long as short
Extended SPCX-USD	+0.0144%	1h	152.30	−0.015%	$724K	$3.6M	10x	as long as short
Binance SPCXUSDT	+0.0146%	8h	152.32	+0.001%	$251.9M	$1.36B	75x	as long as short
OKX SPCX-USDT-SWAP	+0.0156%	8h	152.35	+0.021%	$39.6M	$166.5M	75x	as long as short
Nado SPCX-PERP	+0.0204%	1h	152.19	−0.082%	$626K	$804K	20x	as long as short
Phoenix SPCXshort	+0.0210%	1h	152.35	+0.021%	$443K	$266K	15x
Coinbase International SPCX-PERP-INTX	+0.0240%	1h	152.34	+0.014%	$725K	$931K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0276%	1h	152.25	−0.045%	$89K	$1.3M	10x	as long as short
Aster SPCXUSD1	+0.0411%	8h	152.44	+0.078%	$18.9M	$28.6M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.61	+0.191%	$9K	$28K	5.5x	as long as short
RISEx SPCX/USDC	+0.0445%	1h	152.38	+0.040%	$392K	$502K	20x	as long as short
edgeX SPCXUSDC	+0.0932%	4h	152.31	−0.007%	$1.7M	$891K	20x	as long as short