Funding arb · Price arb /

SPK

all SPK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h +0.005%

Price spread now: Extended against BloFin−0.211%74s7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1111.114% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)+0.277%+$28 · spread now −0.211%, 7d avg −0.029%

Together, before fees+0.286%+ Points / potential airdropExtended: Active · farm board+$29 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.182% cheaper against BloFin than usual: you would sell low and buy high (spread −0.211% now, against its 7-day average of −0.029%). If the spread goes back, that is −$18 on $10k: about 11 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.009% in total) that is about 5 months. The two prices were read 74 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	BloFin SPK-USDT	0.02149	0.0048	pay 0.0024% / 4h	49m 40s	$187K	$29K	50x
Short	Extended SPK-USD	0.02144	0.0104	get 0.0013% / 1h	49m 40s	$2K	$140K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BloFinbpFee ExtendedbpOrdersPrice spread, now −0.211%Rate

Funding earned: $11.67
Price spread: −0.211% → −0.029%: −$18.17
Slippage, 4 orders: −$94.4
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$117.9
Costs to cover: 1.114%
Break-even: 77.7 days

Slippage from BloFin: live order book, 48 min ago; Extended: live order book, 6 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 BloFin live order book, 48 min ago	2.31 bp	16.4 bp −$16	44.5 bp −$445	doesn't fit	doesn't fit
Sell Extended live order book, 6 min ago	4.18 bp	31.0 bp −$31	207.8 bp −$2,078	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	−0.0354%	4h	0.02151	+0.093%	$148K	$136K	50x	as long as short
Aster SPKUSDT	−0.0141%	4h	0.02149	−0.008%	$13K	$74K	5x	as long as short
BloFin SPK-USDTlong	+0.0048%	4h	0.02149	long leg	$187K	$29K	50x
Binance SPKUSDT	+0.0100%	4h	0.02147	−0.093%	$3.7M	$5.7M	50x	as long as short
Bybit SPKUSDT	+0.0100%	4h	0.02146	−0.140%	$1.8M	$2.2M	25x	as long as short
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02146	−0.140%	$754K	$2.0M	20x	as long as short
MEXC SPK_USDT	+0.0100%	4h	0.02145	−0.186%	$2.1M	$636K	50x	as long as short
Bitget SPKUSDT	+0.0100%	4h	0.02148	−0.047%	$1.2M	$1.5M	50x	as long as short
BingX SPK-USDT	+0.0100%	4h	0.02150	+0.047%	—	$2.3M	—	as long as short
Variational Omni SPK	+0.0100%	4h	0.02149	+0.006%	$174K	$76K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SPK-USDT	+0.0100%	4h	0.02194	+2.094%	$1K	$1.1M	20x	as long as short
Extended SPK-USDshort	+0.0104%	1h	0.02144	−0.211%	$2K	$140K	5x
KuCoin SPKUSDTM	+0.0424%	4h	0.02158	+0.419%	$1.1M	$476K	30x	as long as short
Kraken Futures PF_SPKUSD	+0.2108%	1h	0.02150	+0.037%	$22K	$25K	10x	as long as short