Funding arb · Price arb /

SPCX

RWAall SPCX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0120%/8h= +13.2% APRpaid last 24h +0.035%

Price spread now: Phoenix against Variational Omni−0.063%84s7-day average +0.001% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.073%+$7 on $10k

Price spread, last 4 days (all we have)−0.037%−$4 · spread now −0.063%, 7d avg +0.001%

Together, before fees+0.036%+ Points / potential airdropVariational Omni: Active · farm board+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.065% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.063% now, against its 7-day average of +0.001%). If the spread goes back, that is −$6 on $10k: about 43 hours of funding at the current rate (+$4 a day). The two prices were read 84 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SPCX	152.53	0.0141	pay 0.0141% / 8h	3h 22m	$6.0M	$2.9M	—
Short	Phoenix SPCX	152.43	0.0261	get 0.0033% / 1h	22m 05s	$443K	$264K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Variational Omni. 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 Variational OmnibpFee PhoenixbpOrdersPrice spread, now −0.063%Rate

Funding earned: $25.27
Price spread: −0.063% → +0.001%: −$6.46
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $11.81
Costs to cover: 0.070%
Break-even: 3.7 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Phoenix: live order book, 30 min ago. Net counts fees only.

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 Variational Omni RFQ quote, 2 min ago	2.36 bp	doesn't fit	3.7 bp −$37	doesn't fit	doesn't fit
Sell Phoenix live order book, 30 min ago	0.33 bp	5.1 bp −$5	15.6 bp −$156	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 −0.0265% / S +0.0494%	1h	152.29	−0.152%	$90K	—	20x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.38	−0.096%	$96.2M	$31.5M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.47	−0.037%	$31.3M	$65.8M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.53	+13.116%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.43	−0.063%	$300K	$2.9M	20x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.62	+0.061%	$8K	$920K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.38	−0.096%	$1.3M	$1.8M	75x	as long as short
Bybit SPCXUSDT	+0.0014%	8h	152.38	−0.096%	$30.6M	$42.7M	100x	as long as short
BloFin SPCX-USDT	+0.0027%	8h	152.40	−0.083%	$1.9M	$1.3M	75x	as long as short
Aftermath Perps SPCXUSD	+0.0031%	1h	152.37	−0.103%	$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 RH SPCX	+0.0032%	1h	152.33	−0.129%	$2.5M	$7.4M	20x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.36	−0.109%	$105K	$297K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.36	−0.109%	—	$1.2M	10x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.32	−0.136%	$495K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.37	−0.103%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.43	−0.063%	$532K	$392K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.15	−0.247%	$3.2M	$2.4M	10x	as long as short
QFEX SPCX-USD	+0.0050%	1h	152.34	−0.122%	$1.2M	$5.7M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0054%	8h	152.35	−0.117%	$101	—	5x	as long as short
Lighter SPCX	+0.0096%	1h	152.37	−0.103%	$1.6M	$7.4M	20x	as long as short
Pacifica SPCX	+0.0100%	1h	152.27	−0.168%	$168K	$120K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.34	−0.122%	$13.0M	$5.4M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.61	+0.055%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.34	−0.122%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.35	−0.118%	$88	—	10x	as long as short
Variational Omni SPCXlong	+0.0141%	8h	152.53	long leg	$6.0M	$2.9M	—
Extended SPCX-USD	+0.0144%	1h	152.31	−0.142%	$732K	$3.8M	10x	as long as short
Binance SPCXUSDT	+0.0146%	8h	152.43	−0.064%	$249.6M	$1.36B	75x	as long as short
OKX SPCX-USDT-SWAP	+0.0146%	8h	152.46	−0.044%	$39.4M	$166.3M	75x	as long as short
tradeXYZ xyz:SPCX	+0.0149%	1h	152.31	−0.142%	$131.6M	$127.9M	20x	as long as short
Nado SPCX-PERP	+0.0210%	1h	152.32	−0.134%	$613K	$802K	20x	as long as short
RISEx SPCX/USDC	+0.0217%	1h	152.43	−0.067%	$408K	$517K	20x	as long as short
Bullet SPCX-USD	+0.0218%	1h	152.41	−0.077%	$12K	$192K	10x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0248%	1h	152.44	−0.057%	$739K	$931K	10x	as long as short
Phoenix SPCXshort	+0.0261%	1h	152.43	−0.063%	$443K	$264K	15x
Deribit SPCX_USDC-PERPETUAL	+0.0407%	1h	152.39	−0.090%	$86K	$1.2M	10x	as long as short
Aster SPCXUSD1	+0.0421%	8h	152.49	−0.024%	$18.9M	$24.0M	20x	as long as short
Injective SPCX/USDC PERP	+0.0440%	1h	153.19	+0.435%	$9K	$28K	5.5x	as long as short
edgeX SPCXUSDC	+0.0639%	4h	152.56	+0.023%	$1.7M	$891K	20x	as long as short