Funding arb · Price arb /

SPK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.2951%/8h= +323.2% APRpaid last 24h +0.392%

Price spread now: Kraken Futures against BloFin+0.296%57s7-day average — · you sell dearer than you buy

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

Long on BloFin 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 +$89 a day on $10k at the current rate, and Kraken Futures is 0.296% dearer against BloFin than usual: you sell high and buy low: +$30 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 57 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	0.0080	pay 0.0040% / 4h	1h 32m	$186K	$25K	50x
Short	Kraken Futures PF_SPKUSD	0.02155	0.3031	get 0.0379% / 1h	32m 03s	$22K	$25K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now +0.296%Rate

Funding earned: $619.75
Price spread: +0.296% → 0.000%: $29.58
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $627.32
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: BloFin: live order book, 43 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 BloFin live order book, 43 min ago	6.99 bp	15.5 bp −$16	48.2 bp −$482	doesn't fit	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 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	+0.0070%	4h	0.02150	+0.047%	$145K	$141K	50x	as long as short
BloFin SPK-USDTlong	+0.0080%	4h	0.02149	long leg	$186K	$25K	50x
Aster SPKUSDT	+0.0100%	4h	0.02151	+0.093%	$18K	$83K	5x	as long as short
Binance SPKUSDT	+0.0100%	4h	0.02147	−0.093%	$3.8M	$5.8M	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	0.02148	−0.047%	$736K	$2.1M	20x	as long as short
MEXC SPK_USDT	+0.0100%	4h	0.02147	−0.093%	$2.1M	$643K	50x	as long as short
Bitget SPKUSDT	+0.0100%	4h	0.02146	−0.140%	$1.2M	$1.4M	50x	as long as short
BingX SPK-USDT	+0.0100%	4h	0.02147	−0.093%	—	$2.3M	—	as long as short
Variational Omni SPK	+0.0100%	4h	0.02150	+0.052%	$170K	$82K	—	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%	$905	$1.2M	20x	as long as short
Extended SPK-USD	+0.0104%	1h	0.02147	−0.071%	$2K	$191K	5x	as long as short
KuCoin SPKUSDTM	+0.0872%	4h	0.02155	+0.279%	$1.1M	$476K	30x	as long as short
Kraken Futures PF_SPKUSDshort	+0.3031%	1h	0.02155	+0.296%	$22K	$25K	10x