Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against Phemex−0.052%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$400.398% of the position

Long on Phemex Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.136%+$14 on $10k

Price spread, last 4 days (all we have)+0.064%+$6 · spread now −0.052%, 7d avg +0.024%

Together, before fees+0.200%+$20 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Polymarket Perps is 0.077% cheaper against Phemex than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SPCXUSDT	152.50	0.0050	pay 0.0050% / 8h	2h 26m	$531K	$387K	50x
Short	Polymarket Perps SPCX-USD	152.42	0.0050	get 0.0006% / 1h	26m 14s	$487K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket 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 Polymarket PerpsbpOrdersPrice spread, now −0.052%Rate

Funding earned: $0
Price spread: −0.052% → +0.024%: −$7.69
Slippage, 4 orders: −$19.79
Fee Phemex: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$47.48
Costs to cover: 0.398%
Break-even: never at this rate

Slippage from Phemex: live order book, 21 min ago; Polymarket Perps: live order book, 2 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, 21 min ago	0.65 bp	9.6 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	1.97 bp	6.0 bp −$6	6.8 bp −$68	10.1 bp −$1,013	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	152.38	−0.075%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0004%	8h	152.46	−0.026%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.48	−0.013%	$30.6M	$42.7M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.46	−0.026%	$96.1M	$31.7M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.50	0.000%	$31.3M	$65.8M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+13.132%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.50	0.000%	$300K	$2.8M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.66	+0.105%	$8K	$909K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.54	+0.026%	$1.3M	$1.8M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0022%	1h	152.43	−0.048%	$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 SPCX	+0.0032%	1h	152.43	−0.046%	$1.6M	$7.4M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.40	−0.066%	$2.5M	$7.3M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.40	−0.066%	$105K	$297K	5x	as long as short
QFEX SPCX-USD	+0.0043%	1h	152.45	−0.033%	$1.2M	$5.6M	10x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.46	−0.026%	—	$1.2M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.36	−0.092%	$130.8M	$128.7M	20x	as long as short
Polymarket Perps SPCX-USDshort	+0.0050%	1h	152.42	−0.052%	$487K	$1.2M	10x
SoDEX SPCX-USD	+0.0050%	1h	152.46	−0.026%	$1.7M	$98K	20x	as long as short
Phemex SPCXUSDTlong	+0.0050%	8h	152.50	long leg	$531K	$387K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.39	−0.072%	$3.2M	$2.3M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0059%	8h	152.48	−0.015%	$101	—	5x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0078%	1h	152.44	−0.039%	$87K	$1.3M	10x	as long as short
Pacifica SPCX	+0.0100%	1h	152.38	−0.079%	$169K	$118K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.41	−0.059%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.54	+0.026%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.48	−0.013%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.48	−0.015%	$88	—	10x	as long as short
Variational Omni SPCX	+0.0112%	8h	152.48	−0.012%	$6.0M	$2.8M	—	as long as short
Extended SPCX-USD	+0.0112%	1h	152.45	−0.036%	$731K	$4.6M	10x	as long as short
Nado SPCX-PERP	+0.0114%	1h	152.42	−0.051%	$613K	$803K	20x	as long as short
Binance SPCXUSDT	+0.0115%	8h	152.48	−0.012%	$250.6M	$1.36B	75x	as long as short
OKX SPCX-USDT-SWAP	+0.0120%	8h	152.49	−0.007%	$39.3M	$166.2M	75x	as long as short
Bullet SPCX-USD	+0.0144%	1h	152.49	−0.008%	$11K	$193K	10x	as long as short
RISEx SPCX/USDC	+0.0238%	1h	152.51	+0.010%	$408K	$513K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0248%	1h	152.44	−0.039%	$739K	$923K	10x	as long as short
Phoenix SPCX	+0.0263%	1h	152.49	−0.007%	$443K	$266K	15x	as long as short
Aster SPCXUSD1	+0.0374%	8h	152.59	+0.057%	$18.9M	$24.7M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.70	+0.131%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0741%	4h	152.51	+0.004%	$1.7M	$891K	20x	as long as short