Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= +0.1% APRpaid last 24h −0.004%

Price spread now: QFEX against Phemex+0.007%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$500.501% of the position

Long on Phemex Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.031%+$3 on $10k

Price spread, last 4 days (all we have)+0.037%+$4 · spread now +0.007%, 7d avg +0.043%

Together, before fees+0.068%+$7 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: QFEX is 0.036% cheaper against Phemex than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SPCXUSDT	152.87	0.0050	pay 0.0050% / 8h	3h 44m	$532K	$391K	50x
Short	QFEX SPCX-USD	152.88	0.0050	get 0.0006% / 1h	44m 29s	$1.2M	$5.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.007%Rate

Funding earned: $0.1
Price spread: +0.007% → +0.043%: −$3.64
Slippage, 4 orders: −$28.1
Fee Phemex: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$53.64
Costs to cover: 0.501%
Break-even: 3731.9 days

Slippage from Phemex: live order book, 8 min ago; QFEX: live order book, 9 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, 8 min ago	1.63 bp	24.4 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 9 min ago	1.31 bp	6.3 bp −$6	8.0 bp −$80	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 −0.0214% / S +0.0456%	1h	152.84	−0.016%	$90K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.87	0.000%	$96.3M	$31.2M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.93	+0.039%	$31.8M	$65.3M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.860%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.96	+0.059%	$301K	$2.9M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.12	+0.164%	$8K	$934K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.98	+0.072%	$1.3M	$1.7M	75x	as long as short
Bybit SPCXUSDT	+0.0014%	8h	152.88	+0.007%	$30.7M	$42.6M	100x	as long as short
Aftermath Perps SPCXUSD	+0.0031%	1h	152.86	−0.005%	$7K	$8K	10x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.81	−0.039%	$2.5M	$7.2M	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	152.90	+0.020%	$1.9M	$1.3M	75x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.82	−0.033%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.86	−0.007%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.82	−0.033%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.86	−0.007%	$1.7M	$96K	20x	as long as short
Phemex SPCXUSDTlong	+0.0050%	8h	152.87	long leg	$532K	$391K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.79	−0.052%	$3.2M	$2.4M	10x	as long as short
QFEX SPCX-USDshort	+0.0050%	1h	152.88	+0.007%	$1.2M	$5.8M	10x
Paradex SPCX-USD-PERP	+0.0097%	8h	152.90	+0.019%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.79	−0.052%	$169K	$121K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.81	−0.039%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.96	+0.059%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.88	+0.007%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.90	+0.023%	$89	—	10x	as long as short
Lighter SPCX	+0.0136%	1h	152.83	−0.026%	$1.6M	$7.3M	20x	as long as short
Variational Omni SPCX	+0.0141%	8h	152.91	+0.025%	$6.0M	$2.9M	—	as long as short
Extended SPCX-USD	+0.0152%	1h	152.85	−0.014%	$738K	$3.8M	10x	as long as short
Binance SPCXUSDT	+0.0155%	8h	152.89	+0.010%	$248.5M	$1.36B	75x	as long as short
OKX SPCX-USDT-SWAP	+0.0156%	8h	152.91	+0.026%	$39.6M	$166.1M	75x	as long as short
edgeX SPCXUSDC	+0.0206%	4h	152.89	+0.014%	$1.7M	$893K	20x	as long as short
RISEx SPCX/USDC	+0.0217%	1h	152.94	+0.043%	$409K	$517K	20x	as long as short
Nado SPCX-PERP	+0.0244%	1h	152.75	−0.077%	$615K	$810K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0248%	1h	152.90	+0.020%	$741K	$939K	10x	as long as short
Phoenix SPCX	+0.0261%	1h	152.93	+0.039%	$445K	$264K	15x	as long as short
Bullet SPCX-USD	+0.0272%	1h	152.90	+0.020%	$12K	$192K	10x	as long as short
tradeXYZ xyz:SPCX	+0.0277%	1h	152.82	−0.033%	$141.3M	$119.2M	20x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0405%	1h	152.87	0.000%	$84K	$1.2M	10x	as long as short
Aster SPCXUSD1	+0.0429%	8h	153.01	+0.089%	$19.0M	$22.5M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.24	+0.242%	$9K	$28K	5.5x	as long as short