Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.5% APRpaid last 24h +0.004%

Price spread now: Phemex against QFEX+0.033%7-day average −0.044% · 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−$42as in the Price arb table

costs, in and out, $10k−$500.497% of the position

Long on QFEX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.030%−$3 on $10k

Price spread, last 4 days (all we have)−0.072%−$7 · spread now +0.033%, 7d avg −0.044%

Together, before fees−0.102%−$10 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: Phemex is 0.076% dearer against QFEX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SPCX-USD	153.03	0.0046	pay 0.0006% / 1h	37m 47s	$1.2M	$6.2M	10x
Short	Phemex SPCXUSDT	153.08	0.0050	get 0.0050% / 8h	4h 37m	$533K	$395K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.033%Rate

Funding earned: $0.87
Price spread: +0.033% → −0.044%: $7.63
Slippage, 4 orders: −$27.74
Fee QFEX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$41.24
Costs to cover: 0.497%
Break-even: 337.4 days

Slippage from QFEX: live order book, 11 min ago; Phemex: live order book, 20 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, 11 min ago	0.98 bp	6.0 bp −$6	6.7 bp −$67	doesn't fit	doesn't fit
Sell Phemex live order book, 20 min ago	2.61 bp	25.4 bp −$25	doesn't fit	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 −0.0314% / S +0.0531%	1h	153.04	+0.010%	$91K	—	20x	as long as short
Bybit SPCXUSDT	0.0000%	8h	153.08	+0.033%	$30.8M	$42.9M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	153.06	+0.020%	$96.3M	$31.3M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	153.11	+0.052%	$31.7M	$65.3M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+12.740%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	153.03	0.000%	$302K	$3.0M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	153.27	+0.157%	$8K	$937K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	153.12	+0.059%	$1.3M	$1.7M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0022%	1h	153.04	+0.005%	$8K	$8K	10x	as long as short
Lighter SPCX	+0.0032%	1h	153.04	+0.007%	$1.6M	$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
Lighter RH SPCX	+0.0032%	1h	152.99	−0.026%	$2.5M	$7.2M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	153.02	−0.007%	$105K	$297K	5x	as long as short
BloFin SPCX-USDT	+0.0040%	8h	153.10	+0.046%	$1.9M	$1.4M	75x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	153.07	+0.026%	—	$1.2M	10x	as long as short
QFEX SPCX-USDlong	+0.0046%	1h	153.03	long leg	$1.2M	$6.2M	10x
Polymarket Perps SPCX-USD	+0.0050%	1h	153.02	−0.007%	$499K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	153.05	+0.013%	$1.7M	$95K	20x	as long as short
Phemex SPCXUSDTshort	+0.0050%	8h	153.08	+0.033%	$533K	$395K	50x
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.93	−0.065%	$3.2M	$2.5M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0064%	8h	153.08	+0.035%	$101	—	5x	as long as short
tradeXYZ xyz:SPCX	+0.0074%	1h	153.05	+0.013%	$141.5M	$119.0M	20x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0077%	1h	153.03	0.000%	$73K	$1.2M	10x	as long as short
Bullet SPCX-USD	+0.0082%	1h	153.08	+0.031%	$10K	$191K	10x	as long as short
Pacifica SPCX	+0.0100%	1h	152.98	−0.033%	$169K	$130K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.98	−0.033%	$13.0M	$5.5M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	153.12	+0.059%	$59K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	153.07	+0.026%	$15K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	153.06	+0.017%	$89	—	10x	as long as short
Nado SPCX-PERP	+0.0131%	1h	153.00	−0.022%	$617K	$824K	20x	as long as short
Variational Omni SPCX	+0.0149%	8h	153.08	+0.031%	$6.0M	$3.1M	—	as long as short
OKX SPCX-USDT-SWAP	+0.0154%	8h	153.09	+0.039%	$39.5M	$166.9M	75x	as long as short
Binance SPCXUSDT	+0.0159%	8h	153.08	+0.031%	$252.2M	$1.37B	75x	as long as short
Extended SPCX-USD	+0.0160%	1h	153.04	+0.004%	$738K	$3.8M	10x	as long as short
RISEx SPCX/USDC	+0.0191%	1h	153.11	+0.050%	$410K	$530K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0256%	1h	153.04	+0.007%	$738K	$925K	10x	as long as short
Phoenix SPCX	+0.0261%	1h	153.10	+0.046%	$445K	$268K	15x	as long as short
Aster SPCXUSD1	+0.0409%	8h	153.15	+0.081%	$19.0M	$19.9M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.35	+0.209%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0913%	4h	153.08	+0.034%	$1.7M	$891K	20x	as long as short