Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0030%/8h= +3.2% APRpaid last 24h +0.018%

Price spread now: KuCoin against QFEX−0.059%7-day average −0.011% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$370.369% of the position

Long on QFEX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.051%+$5 on $10k

Price spread, last 7 days+0.023%+$2 · spread now −0.059%, 7d avg −0.011%

Together, before fees+0.075%+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.049% cheaper against QFEX than usual: you would sell low and buy high (spread −0.059% now, against its 7-day average of −0.011%). If the spread goes back, that is −$5 on $10k: about 5.5 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SPCX-USD	152.27	0.0070	pay 0.0009% / 1h	6m 53s	$1.2M	$5.5M	10x
Short	KuCoin SPCXUSDTM	152.18	0.0100	get 0.0100% / 8h	6m 53s	$13.0M	$5.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against QFEX. 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 QFEXbpFee KuCoinbpOrdersPrice spread, now −0.059%Rate

Funding earned: $6.2
Price spread: −0.059% → −0.011%: −$4.85
Slippage, 4 orders: −$14.91
Fee QFEX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$35.56
Costs to cover: 0.369%
Break-even: 47.2 days

Slippage from QFEX: live order book, 7 min ago; KuCoin: 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 QFEX live order book, 7 min ago	0.99 bp	6.0 bp −$6	7.5 bp −$75	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	0.99 bp	10.0 bp −$10	37.2 bp −$372	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 −0.0187% / S +0.0435%	1h	152.22	−0.030%	$90K	—	20x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.31	+0.026%	$30.5M	$42.8M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.30	+0.020%	$96.3M	$32.0M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.32	+0.033%	$31.2M	$66.2M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+13.299%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.34	+0.046%	$300K	$2.6M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.57	+0.197%	$8K	$888K	10x	as long as short
Deribit SPCX_USDC-PERPETUAL	0.0000%	1h	152.26	−0.007%	$89K	$1.4M	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.38	+0.072%	$1.3M	$1.8M	75x	as long as short
BloFin SPCX-USDT	+0.0001%	8h	152.31	+0.026%	$1.9M	$1.2M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps SPCXUSD	+0.0023%	1h	152.26	−0.008%	$7K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	152.27	0.000%	$1.6M	$7.4M	20x	as long as short
Lighter RH SPCX	+0.0032%	1h	152.24	−0.020%	$2.5M	$7.3M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.23	−0.026%	$102K	$298K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.33	+0.039%	—	$1.2M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0050%	1h	152.23	−0.026%	$129.7M	$129.3M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.26	−0.007%	$488K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.28	+0.007%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.29	+0.013%	$529K	$370K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.15	−0.079%	$3.2M	$2.2M	10x	as long as short
QFEX SPCX-USDlong	+0.0070%	1h	152.27	long leg	$1.2M	$5.5M	10x
Paradex SPCX-USD-PERP	+0.0074%	8h	152.30	+0.017%	$101	—	5x	as long as short
Pacifica SPCX	+0.0100%	1h	152.21	−0.039%	$168K	$119K	10x	as long as short
KuCoin SPCXUSDTMshort	+0.0100%	8h	152.18	−0.059%	$13.0M	$5.6M	20x
ApeX Omni SPCXUSDT	+0.0100%	1h	152.33	+0.039%	$58K	$272K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.34	+0.046%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.30	+0.020%	$88	—	10x	as long as short
Variational Omni SPCX	+0.0111%	8h	152.30	+0.017%	$5.9M	$2.8M	—	as long as short
Bullet SPCX-USD	+0.0119%	1h	152.32	+0.030%	$11K	$192K	10x	as long as short
Extended SPCX-USD	+0.0120%	1h	152.28	+0.009%	$724K	$5.3M	10x	as long as short
Binance SPCXUSDT	+0.0121%	8h	152.32	+0.033%	$253.2M	$1.36B	75x	as long as short
OKX SPCX-USDT-SWAP	+0.0136%	8h	152.33	+0.039%	$39.7M	$166.7M	75x	as long as short
Nado SPCX-PERP	+0.0153%	1h	152.24	−0.019%	$631K	$804K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0240%	1h	152.34	+0.046%	$728K	$930K	10x	as long as short
Phoenix SPCX	+0.0368%	1h	152.30	+0.020%	$444K	$266K	15x	as long as short
Aster SPCXUSD1	+0.0390%	8h	152.42	+0.100%	$18.9M	$30.4M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	152.58	+0.204%	$9K	$28K	5.5x	as long as short
RISEx SPCX/USDC	+0.0445%	1h	152.35	+0.056%	$381K	$505K	20x	as long as short
edgeX SPCXUSDC	+0.0590%	4h	152.29	+0.015%	$1.7M	$889K	20x	as long as short