Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0028%/8h= −3.0% APRpaid last 24h −0.004%

Price spread now: Aftermath Perps against Phemex−0.028%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Aftermath Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aftermath Perps is 0.028% cheaper against Phemex than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SPCXUSDT	153.08	0.0050	pay 0.0050% / 8h	4h 38m	$533K	$395K	50x
Short	Aftermath Perps SPCXUSD	153.04	0.0022	get 0.0003% / 1h	38m 00s	$8K	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Phemex. 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 PhemexbpFee Aftermath PerpsbpOrdersPrice spread, now −0.028%Rate

Funding earned: −$5.79
Price spread: −0.028% → 0.000%: −$2.79
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$29.57
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 19 min ago; Aftermath Perps: no order-book sample. 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 Phemex live order book, 19 min ago	2.61 bp	12.4 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Aftermath Perps no order-book sample	—	—	—	—	—

Aftermath 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 −0.0314% / S +0.0531%	1h	153.04	−0.023%	$91K	—	20x	as long as short
Bybit SPCXUSDT	0.0000%	8h	153.07	−0.007%	$30.8M	$42.9M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.06	−0.013%	$96.3M	$31.3M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	153.11	+0.020%	$31.7M	$65.3M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.703%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	153.03	−0.033%	$302K	$3.0M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.27	+0.124%	$8K	$937K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.12	+0.026%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSDshort	+0.0022%	1h	153.04	−0.028%	$8K	$8K	10x
Lighter SPCX	+0.0032%	1h	153.04	−0.026%	$1.6M	$7.3M	20x	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	152.99	−0.059%	$2.5M	$7.2M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	153.02	−0.039%	$105K	$297K	5x	as long as short
BloFin SPCX-USDT	+0.0040%	8h	153.10	+0.013%	$1.9M	$1.4M	75x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.07	−0.007%	—	$1.2M	10x	as long as short
QFEX SPCX-USD	+0.0046%	1h	153.03	−0.033%	$1.2M	$6.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	153.02	−0.039%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.05	−0.020%	$1.7M	$95K	20x	as long as short
Phemex SPCXUSDTlong	+0.0050%	8h	153.08	long leg	$533K	$395K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.93	−0.098%	$3.2M	$2.5M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0064%	8h	153.08	+0.002%	$101	—	5x	as long as short
tradeXYZ xyz:SPCX	+0.0073%	1h	153.03	−0.033%	$141.4M	$119.0M	20x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0077%	1h	153.03	−0.033%	$73K	$1.2M	10x	as long as short
Bullet SPCX-USD	+0.0082%	1h	153.08	−0.002%	$10K	$191K	10x	as long as short
Pacifica SPCX	+0.0100%	1h	152.98	−0.065%	$169K	$130K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.98	−0.065%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.12	+0.026%	$59K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.07	−0.007%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.06	−0.015%	$89	—	10x	as long as short
Nado SPCX-PERP	+0.0131%	1h	153.00	−0.054%	$617K	$824K	20x	as long as short
Variational Omni SPCX	+0.0149%	8h	153.08	−0.002%	$6.0M	$3.1M	—	as long as short
OKX SPCX-USDT-SWAP	+0.0154%	8h	153.09	+0.007%	$39.5M	$166.9M	75x	as long as short
Binance SPCXUSDT	+0.0159%	8h	153.07	−0.009%	$252.1M	$1.37B	75x	as long as short
Extended SPCX-USD	+0.0160%	1h	153.04	−0.029%	$738K	$3.8M	10x	as long as short
RISEx SPCX/USDC	+0.0191%	1h	153.11	+0.017%	$410K	$530K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	153.04	−0.026%	$738K	$925K	10x	as long as short
Phoenix SPCX	+0.0261%	1h	153.10	+0.013%	$445K	$268K	15x	as long as short
Aster SPCXUSD1	+0.0409%	8h	153.15	+0.049%	$19.0M	$19.9M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.35	+0.176%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0913%	4h	153.08	+0.001%	$1.7M	$891K	20x	as long as short