Funding arb · Price arb /

SPK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Binance+0.004%7-day average −0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$137as in the Funding arb table

Net, price: spread back to 7d avg − costs−$120as in the Price arb table

costs, in and out, $10k−$1241.242% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.127%−$13 on $10k

Price spread, last 7 days−0.104%−$10 · spread now +0.004%, 7d avg −0.042%

Together, before fees−0.231%−$23 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: Bybit is 0.047% dearer against Binance than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SPKUSDT	0.02164	0.0100	pay 0.0050% / 4h	4m 30s	$3.7M	$5.6M	50x
Short	Bybit SPKUSDT	0.02164	0.0100	get 0.0050% / 4h	4m 30s	$1.8M	$2.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. 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 BinancebpFee BybitbpOrdersPrice spread, now +0.004%Rate

Funding earned: $0
Price spread: +0.004% → −0.042%: $4.69
Slippage, 4 orders: −$103.24
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$119.55
Costs to cover: 1.242%
Break-even: never at this rate

Slippage from Binance: live order book, 4 min ago; Bybit: 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 Binance live order book, 4 min ago	2.31 bp	24.0 bp −$24	106.2 bp −$1,062	18335.1 bp −$1.83M	doesn't fit
Sell Bybit live order book, 2 min ago	6.92 bp	40.3 bp −$40	155.8 bp −$1,558	doesn't fit	doesn't fit

SPK on 14 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
Gate SPK_USDT	−0.0122%	4h	0.02168	+0.185%	$150K	$136K	50x	as long as short
Aster SPKUSDT	−0.0052%	4h	0.02167	+0.141%	$16K	$76K	5x	as long as short
Binance SPKUSDTlong	+0.0100%	4h	0.02164	long leg	$3.7M	$5.6M	50x
Bybit SPKUSDTshort	+0.0100%	4h	0.02164	+0.004%	$1.8M	$2.2M	25x
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02164	0.000%	$764K	$2.0M	20x	as long as short
MEXC SPK_USDT	+0.0100%	4h	0.02166	+0.092%	$2.1M	$644K	50x	as long as short
Bitget SPKUSDT	+0.0100%	4h	0.02166	+0.092%	$1.2M	$1.4M	50x	as long as short
BingX SPK-USDT	+0.0100%	4h	0.02166	+0.092%	—	$2.3M	—	as long as short
Variational Omni SPK	+0.0100%	4h	0.02166	+0.098%	$176K	$76K	—	as long as short
SunX SPK-USDT	+0.0100%	4h	0.02212	+2.218%	$906	$1.2M	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SPK-USD	+0.0104%	1h	0.02164	−0.013%	$2K	$140K	5x	as long as short
BloFin SPK-USDT	+0.0111%	4h	0.02169	+0.231%	$187K	$30K	50x	as long as short
KuCoin SPKUSDTM	+0.0766%	4h	0.02176	+0.554%	$1.1M	$476K	30x	as long as short
Kraken Futures PF_SPKUSD	+0.2088%	1h	0.02170	+0.293%	$23K	$25K	10x	as long as short