Funding arb · Price arb /

SPK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.023%

Price spread now: Gate against BingX+0.047%7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,167as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,153as in the Price arb table

costs, in and out, $10k−$1,15611.564% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.101%−$10 on $10k

Price spread, last 4 days (all we have)+0.001%$0 · spread now +0.047%, 7d avg +0.017%

Together, before fees−0.099%−$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: Gate is 0.030% dearer against BingX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SPK-USDT	0.02136	0.0100	pay 0.0050% / 4h	2h 31m	—	$2.3M	—
Short	Gate SPK_USDT	0.02137	0.0100	get 0.0050% / 4h	2h 31m	$146K	$135K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against BingX. 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 BingXbpFee GatebpOrdersPrice spread, now +0.047%Rate

Funding earned: $0
Price spread: +0.047% → +0.017%: $3
Slippage, 4 orders: −$1,131.45
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$1,153.45
Costs to cover: 11.564%
Break-even: never at this rate

Slippage from BingX: live order book, 2 min ago; Gate: live order book, 9 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 BingX live order book, 2 min ago	4.69 bp	20.2 bp −$20	74.0 bp −$740	899.7 bp −$90.0K	doesn't fit
Sell Gate live order book, 9 min ago	14.00 bp	528.1 bp −$528	doesn't fit	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
Bybit SPKUSDT	−0.0179%	4h	0.02134	−0.094%	$1.8M	$2.2M	25x	as long as short
Aster SPKUSDT	0.0000%	4h	0.02138	+0.115%	$18K	$80K	5x	as long as short
Binance SPKUSDT	+0.0100%	4h	0.02134	−0.071%	$3.8M	$5.8M	50x	as long as short
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02135	−0.047%	$733K	$2.0M	20x	as long as short
Gate SPK_USDTshort	+0.0100%	4h	0.02137	+0.047%	$146K	$135K	50x
MEXC SPK_USDT	+0.0100%	4h	0.02135	−0.047%	$2.1M	$640K	50x	as long as short
Bitget SPKUSDT	+0.0100%	4h	0.02137	+0.047%	$1.2M	$1.4M	50x	as long as short
BingX SPK-USDTlong	+0.0100%	4h	0.02136	long leg	—	$2.3M	—
Variational Omni SPK	+0.0100%	4h	0.02146	+0.453%	$169K	$82K	—	as long as short
SunX SPK-USDT	+0.0100%	4h	0.02183	+2.200%	$825	$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	0.02134	−0.077%	$484	$190K	5x	as long as short
BloFin SPK-USDT	+0.0115%	4h	0.02131	−0.234%	$186K	$25K	50x	as long as short
KuCoin SPKUSDTM	+0.0804%	4h	0.02145	+0.421%	$1.1M	$476K	30x	as long as short
Kraken Futures PF_SPKUSD	+0.0923%	1h	0.02147	+0.513%	$22K	$25K	10x	as long as short