Funding you earn now, next payment 07:00 UTC−0.0318%/8h= −34.8% APRnext payment −$0.40 per $10,000 · paid last 24h −0.033%
Price spread now: tradeXYZ against Phoenix−0.046%61s7-day average −0.066% · you buy dearer than you sell
Net, funding: paid 7d − costs−$43as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$320.317% of the position
Funding, last 7 days−0.115%−$11 on $10k
+Price spread, last 4 days (all we have)−0.953%−$95 · spread now −0.046%, 7d avg −0.066%
=Together, before fees−1.068%+ Points / potential airdroptradeXYZ: Active · farm board−$107 on $10k · with fees, hour by hour
The price spread pays, funding is against you. tradeXYZ is 0.020% dearer against Phoenix than usual: you sell high and buy low (spread −0.046% now, against its 7-day average of −0.066%): +$2 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.115% in total) that is about 30 hours. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.115% in total (about -6.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.40 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix SPCX | 152.31 | 0.0368 | pay 0.0046% / 1h | 4m 21s | $444K | $266K | 15x |
| Short | tradeXYZ xyz:SPCX | 152.24 | 0.0050 | get 0.0006% / 1h | 4m 21s | $129.7M | $129.3M | 20x |
Phoenix SPCX
tradeXYZ xyz:SPCXFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$66.7
- Price spread: −0.046% → −0.066%
- $2.03
- Slippage, 4 orders
- −$6.66
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$96.33
- Costs to cover
- 0.317%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 33 min ago; tradeXYZ: live order book, 5 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 Phoenix live order book, 33 min ago | 0.33 bp | 7.1 bp −$7 | 21.7 bp −$217 | doesn't fit | doesn't fit |
| Sell tradeXYZ live order book, 5 min ago | 0.33 bp | 9.9 bp −$10 | 11.8 bp −$118 | 17.2 bp −$1,723 | 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 | −0.043% | $90K | — | 20x | as long as short |
| BloFin SPCX-USDT | 0.0000% | 8h | 152.36 | +0.033% | $1.9M | $1.2M | 75x | as long as short |
| Bybit SPCXUSDT | 0.0000% | 8h | 152.36 | +0.033% | $30.5M | $42.8M | 100x | as long as short |
| Gate SPCX_USDT | 0.0000% | 8h | 152.32 | +0.007% | $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 | 152.36 | +0.033% | $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 | 152.29 | −0.013% | $90K | $1.4M | 10x | as long as short |
| HTX SPCX-USDT | 0.0000% | 8h | 152.38 | +0.046% | $1.3M | $1.8M | 75x | as long as short |
GMX SPCX/USD [ETH-USDC]
BloFin SPCX-USDT
Bybit SPCXUSDT
Gate SPCX_USDT
Bitget SPCXUSDT
GRVT SPCX_USDT_Perp
StandX SPCX-USD
SunX SPCX-USDT
Deribit SPCX_USDC-PERPETUAL
HTX SPCX-USDTShow 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 | −0.041% | $7K | $8K | 10x | as long as short |
| Lighter SPCX | +0.0032% | 1h | 152.30 | −0.007% | $1.6M | $7.4M | 20x | as long as short |
| Lighter RH SPCX | +0.0032% | 1h | 152.27 | −0.026% | $2.5M | $7.3M | 20x | as long as short |
| Arcus SPCX-USD | +0.0040% | 1h | 152.25 | −0.039% | $102K | $298K | 5x | as long as short |
| Vest SPCX-USD-PERP | +0.0046% | 1h | 152.33 | +0.013% | — | $1.2M | 10x | as long as short |
| tradeXYZ xyz:SPCXshort | +0.0050% | 1h | 152.24 | −0.046% | $129.7M | $129.3M | 20x | |
| 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 | 152.31 | 0.000% | $1.7M | $99K | 20x | as long as short |
| Phemex SPCXUSDT | +0.0050% | 8h | 152.31 | 0.000% | $530K | $370K | 50x | as long as short |
| 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 | +0.0073% | 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 | 152.32 | +0.008% | $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 | +0.0117% | 1h | 152.34 | +0.020% | $11K | $192K | 10x | as long as short |
| Binance SPCXUSDT | +0.0119% | 8h | 152.34 | +0.022% | $253.3M | $1.36B | 75x | as long as short |
| Extended SPCX-USD | +0.0120% | 1h | 152.31 | −0.002% | $724K | $5.3M | 10x | as long as short |
| OKX SPCX-USDT-SWAP | +0.0134% | 8h | 152.34 | +0.020% | $39.7M | $166.6M | 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 SPCXlong | +0.0368% | 1h | 152.31 | long leg | $444K | $266K | 15x | |
| Aster SPCXUSD1 | +0.0387% | 8h | 152.43 | +0.077% | $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 |
Aftermath Perps SPCXUSD
Lighter SPCX
Lighter RH SPCX
Arcus SPCX-USD
Vest SPCX-USD-PERP
Polymarket Perps SPCX-USD
SoDEX SPCX-USD
Phemex SPCXUSDT
Ondo Perps SPCX-USD.P
QFEX SPCX-USD
Paradex SPCX-USD-PERP
Pacifica SPCX
KuCoin SPCXUSDTM
ApeX Omni SPCXUSDT
Orderly PERP_SPCX_USDC_mythos
Aevo SPCX-PERP
Variational Omni SPCX
Bullet SPCX-USD
Binance SPCXUSDT
Extended SPCX-USD
OKX SPCX-USDT-SWAP
Nado SPCX-PERP
Coinbase International SPCX-PERP-INTX
Aster SPCXUSD1
Injective SPCX/USDC PERP
RISEx SPCX/USDC
edgeX SPCXUSDC