Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0198%/8h= +21.7% APRpaid last 24h +0.041%

Price spread now: Coinbase International against Phemex−0.026%7-day average +0.058% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$540.536% of the position

Long on Phemex Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.351%+$35 on $10k

Price spread, last 4 days (all we have)+0.094%+$9 · spread now −0.026%, 7d avg +0.058%

Together, before fees+0.445%+$45 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.085% cheaper against Phemex than usual: you would sell low and buy high (spread −0.026% now, against its 7-day average of +0.058%). If the spread goes back, that is −$8 on $10k: about 34 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SPCXUSDT	152.48	0.0050	pay 0.0050% / 8h	3h 15m	$531K	$392K	50x
Short	Coinbase International SPCX-PERP-INTX	152.44	0.0248	get 0.0031% / 1h	15m 21s	$739K	$931K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.026%Rate

Funding earned: $41.58
Price spread: −0.026% → +0.058%: −$8.47
Slippage, 4 orders: −$31.64
Fee Phemex: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$20.52
Costs to cover: 0.536%
Break-even: 10.5 days

Slippage from Phemex: live order book, 37 min ago; Coinbase International: live order book, 38 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, 37 min ago	1.63 bp	24.4 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 38 min ago	2.94 bp	7.9 bp −$8	8.5 bp −$85	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 −0.0265% / S +0.0494%	1h	152.38	−0.062%	$90K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.50	+0.013%	$96.3M	$31.6M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.55	+0.046%	$31.3M	$65.9M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+13.149%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.55	+0.046%	$300K	$2.9M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.71	+0.151%	$8K	$920K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.54	+0.039%	$1.3M	$1.8M	75x	as long as short
Bybit SPCXUSDT	+0.0016%	8h	152.54	+0.039%	$30.6M	$42.7M	100x	as long as short
BloFin SPCX-USDT	+0.0024%	8h	152.49	+0.007%	$1.9M	$1.3M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0029%	1h	152.36	−0.076%	$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	152.43	−0.033%	$2.5M	$7.4M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.38	−0.066%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.50	+0.013%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.46	−0.013%	$493K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.46	−0.013%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDTlong	+0.0050%	8h	152.48	long leg	$531K	$392K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.22	−0.171%	$3.2M	$2.4M	10x	as long as short
QFEX SPCX-USD	+0.0050%	1h	152.51	+0.020%	$1.2M	$5.7M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0057%	8h	152.52	+0.024%	$101	—	5x	as long as short
Lighter SPCX	+0.0088%	1h	152.47	−0.007%	$1.6M	$7.4M	20x	as long as short
Pacifica SPCX	+0.0100%	1h	152.40	−0.052%	$169K	$120K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.35	−0.085%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.37	−0.072%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.51	+0.020%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.49	+0.003%	$88	—	10x	as long as short
tradeXYZ xyz:SPCX	+0.0111%	1h	152.40	−0.052%	$131.3M	$128.3M	20x	as long as short
Variational Omni SPCX	+0.0134%	8h	152.48	−0.001%	$6.0M	$2.9M	—	as long as short
Binance SPCXUSDT	+0.0143%	8h	152.52	+0.025%	$250.6M	$1.36B	75x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0144%	1h	152.46	−0.013%	$86K	$1.2M	10x	as long as short
Extended SPCX-USD	+0.0144%	1h	152.47	−0.007%	$734K	$4.7M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0147%	8h	152.54	+0.039%	$39.4M	$166.5M	75x	as long as short
Nado SPCX-PERP	+0.0203%	1h	152.43	−0.031%	$613K	$802K	20x	as long as short
Bullet SPCX-USD	+0.0213%	1h	152.51	+0.020%	$11K	$192K	10x	as long as short
RISEx SPCX/USDC	+0.0217%	1h	152.54	+0.040%	$408K	$517K	20x	as long as short
Coinbase International SPCX-PERP-INTXshort	+0.0248%	1h	152.44	−0.026%	$739K	$931K	10x
Phoenix SPCX	+0.0261%	1h	152.37	−0.072%	$443K	$264K	15x	as long as short
edgeX SPCXUSDC	+0.0370%	4h	152.46	−0.014%	$1.7M	$893K	20x	as long as short
Aster SPCXUSD1	+0.0417%	8h	152.57	+0.060%	$18.9M	$24.0M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.19	+0.466%	$9K	$28K	5.5x	as long as short