Funding arb · Price arb /

SPK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0700%/8h= +76.7% APRpaid last 24h +0.405%

Price spread now: Kraken Futures against Binance+0.504%7-day average — · you sell dearer than you buy

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

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and Kraken Futures is 0.504% dearer against Binance than usual: you sell high and buy low: +$50 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SPKUSDT	0.02182	0.0100	pay 0.0050% / 4h	2h 26m	$3.8M	$5.7M	50x
Short	Kraken Futures PF_SPKUSD	0.02193	0.0800	get 0.0100% / 1h	26m 34s	$23K	$28K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.504%Rate

Funding earned: $147.01
Price spread: +0.504% → 0.000%: $50.44
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $177.45
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: Binance: live order book, 12 min ago; Kraken Futures: no order-book sample. 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 Binance live order book, 12 min ago	2.31 bp	16.8 bp −$17	84.7 bp −$847	18155.6 bp −$1.82M	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

SPK on 13 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	−0.0212%	4h	0.02184	+0.092%	$142K	$132K	50x	as long as short
Aster SPKUSDT	+0.0069%	4h	0.02183	+0.046%	$9K	$66K	5x	as long as short
Binance SPKUSDTlong	+0.0100%	4h	0.02182	long leg	$3.8M	$5.7M	50x
Bybit SPKUSDT	+0.0100%	4h	0.02184	+0.110%	$1.9M	$2.2M	25x	as long as short
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02184	+0.092%	$769K	$2.1M	20x	as long as short
MEXC SPK_USDT	+0.0100%	4h	0.02182	0.000%	$2.2M	$654K	50x	as long as short
KuCoin SPKUSDTM	+0.0100%	4h	0.02188	+0.275%	$989K	$431K	30x	as long as short
Bitget SPKUSDT	+0.0100%	4h	0.02183	+0.046%	$1.3M	$1.4M	50x	as long as short
BingX SPK-USDT	+0.0100%	4h	0.02183	+0.046%	—	$2.3M	—	as long as short
Variational Omni SPK	+0.0100%	4h	0.02186	+0.168%	$177K	$76K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SPK-USDT	+0.0100%	4h	0.02232	+2.291%	$836	$1.2M	20x	as long as short
Extended SPK-USD	+0.0104%	1h	0.02181	−0.066%	$3K	$146K	5x	as long as short
Kraken Futures PF_SPKUSDshort	+0.0800%	1h	0.02193	+0.504%	$23K	$28K	10x