Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h +0.013%

Price spread now: Arcus against Phemex−0.039%7-day average +0.002% · 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−$79as in the Price arb table

costs, in and out, $10k−$750.745% of the position

Long on Phemex Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.083%+$8 on $10k

Price spread, last 4 days (all we have)+0.055%+$5 · spread now −0.039%, 7d avg +0.002%

Together, before fees+0.138%+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Arcus is 0.041% cheaper against Phemex than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.002%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.083%, 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	Phemex SPCXUSDT	152.31	0.0050	pay 0.0050% / 8h	3m 05s	$530K	$370K	50x
Short	Arcus SPCX-USD	152.25	0.0040	get 0.0005% / 1h	3m 05s	$102K	$298K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now −0.039%Rate

Funding earned: −$2.04
Price spread: −0.039% → +0.002%: −$4.11
Slippage, 4 orders: −$58.03
Fee Phemex: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$80.68
Costs to cover: 0.745%
Break-even: never at this rate

Slippage from Phemex: live order book, 34 min ago; Arcus: 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 Phemex live order book, 34 min ago	0.33 bp	39.1 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Arcus live order book, 35 min ago	6.90 bp	10.8 bp −$11	13.9 bp −$139	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 −0.0187% / S +0.0435%	1h	152.25	−0.036%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0002%	8h	152.34	+0.020%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.34	+0.020%	$30.5M	$42.7M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.33	+0.013%	$96.3M	$32.0M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.36	+0.033%	$31.2M	$66.2M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+13.270%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.37	+0.039%	$300K	$2.6M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.57	+0.171%	$8K	$888K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	0.0000%	1h	152.30	−0.007%	$90K	$1.4M	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.41	+0.066%	$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
Aftermath Perps SPCXUSD	+0.0022%	1h	152.25	−0.039%	$7K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.28	−0.020%	$1.6M	$7.4M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.26	−0.033%	$2.5M	$7.3M	20x	as long as short
Arcus SPCX-USDshort	+0.0040%	1h	152.25	−0.039%	$102K	$298K	5x
Vest SPCX-USD-PERP	+0.0046%	1h	152.34	+0.020%	—	$1.2M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.23	−0.053%	$129.7M	$129.4M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.28	−0.020%	$488K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.32	+0.007%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDTlong	+0.0050%	8h	152.31	long leg	$530K	$370K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.19	−0.079%	$3.2M	$2.2M	10x	as long as short
QFEX SPCX-USD	+0.0070%	1h	152.31	0.000%	$1.2M	$5.5M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0072%	8h	152.32	+0.009%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.24	−0.046%	$168K	$119K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.19	−0.079%	$13.0M	$5.6M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.25	−0.039%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.34	+0.020%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.33	+0.015%	$88	—	10x	as long as short
Variational Omni SPCX	+0.0104%	8h	152.31	+0.003%	$5.9M	$2.8M	—	as long as short
Bullet SPCX-USD	+0.0115%	1h	152.33	+0.014%	$11K	$192K	10x	as long as short
Binance SPCXUSDT	+0.0118%	8h	152.34	+0.020%	$253.3M	$1.36B	75x	as long as short
Extended SPCX-USD	+0.0120%	1h	152.31	+0.002%	$723K	$5.3M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0134%	8h	152.37	+0.039%	$39.7M	$166.7M	75x	as long as short
Nado SPCX-PERP	+0.0150%	1h	152.27	−0.028%	$631K	$803K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0240%	1h	152.34	+0.020%	$728K	$930K	10x	as long as short
Phoenix SPCX	+0.0368%	1h	152.31	0.000%	$444K	$266K	15x	as long as short
Aster SPCXUSD1	+0.0387%	8h	152.43	+0.078%	$18.9M	$30.5M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.70	+0.256%	$9K	$28K	5.5x	as long as short
RISEx SPCX/USDC	+0.0445%	1h	152.38	+0.047%	$381K	$505K	20x	as long as short
edgeX SPCXUSDC	+0.0487%	4h	152.29	−0.010%	$1.7M	$890K	20x	as long as short