Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0506%/8h= −55.4% APRpaid last 24h −0.142%

Price spread now: GMX against Phemex−0.023%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 GMX

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 −$15 a day on $10k at the current rate, and GMX is 0.023% cheaper against Phemex than usual: you would sell low and buy high (−$2 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	152.88	0.0050	pay 0.0050% / 8h	3h 42m	$533K	$391K	50x
Short	GMX SPCX/USD [ETH-USDC]	152.84	L −0.0214% / S +0.0456%	pay 0.0057% / 1h	42m 31s	$90K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.023%Rate

Funding earned: −$106.25
Price spread: −0.023% → 0.000%: −$2.29
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$132.54
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 10 min ago; GMX: 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, 10 min ago	1.63 bp	24.4 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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]short	L −0.0214% / S +0.0456%	1h	152.84	−0.023%	$90K	—	20x
Gate SPCX_USDT	0.0000%	8h	152.86	−0.013%	$96.3M	$31.2M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.91	+0.020%	$31.8M	$65.3M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.853%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.92	+0.026%	$301K	$2.9M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.12	+0.157%	$8K	$932K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.94	+0.039%	$1.3M	$1.7M	75x	as long as short
Bybit SPCXUSDT	+0.0017%	8h	152.88	0.000%	$30.7M	$42.6M	100x	as long as short
Aftermath Perps SPCXUSD	+0.0032%	1h	152.86	−0.012%	$7K	$8K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.81	−0.046%	$2.5M	$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
BloFin SPCX-USDT	+0.0035%	8h	152.91	+0.020%	$1.9M	$1.3M	75x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.82	−0.039%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.81	−0.046%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.83	−0.033%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.85	−0.020%	$1.7M	$97K	20x	as long as short
Phemex SPCXUSDTlong	+0.0050%	8h	152.88	long leg	$533K	$391K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.79	−0.059%	$3.2M	$2.4M	10x	as long as short
QFEX SPCX-USD	+0.0050%	1h	152.85	−0.020%	$1.2M	$5.8M	10x	as long as short
Pacifica SPCX	+0.0100%	1h	152.78	−0.065%	$169K	$121K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.80	−0.052%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.92	+0.026%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.87	−0.007%	$15K	$7K	10x	as long as short
Paradex SPCX-USD-PERP	+0.0101%	8h	152.90	+0.011%	$101	—	5x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.87	−0.004%	$89	—	10x	as long as short
Variational Omni SPCX	+0.0141%	8h	152.91	+0.018%	$6.0M	$2.9M	—	as long as short
Lighter SPCX	+0.0152%	1h	152.84	−0.026%	$1.6M	$7.3M	20x	as long as short
Extended SPCX-USD	+0.0152%	1h	152.82	−0.036%	$738K	$3.8M	10x	as long as short
Binance SPCXUSDT	+0.0155%	8h	152.88	−0.003%	$248.6M	$1.36B	75x	as long as short
OKX SPCX-USDT-SWAP	+0.0158%	8h	152.91	+0.020%	$39.6M	$166.1M	75x	as long as short
edgeX SPCXUSDC	+0.0206%	4h	152.89	+0.008%	$1.7M	$893K	20x	as long as short
RISEx SPCX/USDC	+0.0217%	1h	152.89	+0.008%	$409K	$517K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0248%	1h	152.90	+0.013%	$741K	$939K	10x	as long as short
Nado SPCX-PERP	+0.0249%	1h	152.73	−0.096%	$615K	$810K	20x	as long as short
Phoenix SPCX	+0.0261%	1h	152.93	+0.033%	$445K	$264K	15x	as long as short
Bullet SPCX-USD	+0.0279%	1h	152.90	+0.010%	$12K	$192K	10x	as long as short
tradeXYZ xyz:SPCX	+0.0281%	1h	152.84	−0.026%	$141.3M	$119.2M	20x	as long as short
Aster SPCXUSD1	+0.0430%	8h	152.98	+0.065%	$19.0M	$22.9M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.24	+0.235%	$9K	$28K	5.5x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0536%	1h	152.84	−0.026%	$84K	$1.2M	10x	as long as short