Funding arb · Price arb /

SPK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.2010%/8h= +220.1% APRpaid last 24h +0.411%

Price spread now: Kraken Futures against Bybit+0.051%7-day average — · you sell dearer than you buy

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

Long on Bybit 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 +$60 a day on $10k at the current rate, and Kraken Futures is 0.051% dearer against Bybit than usual: you sell high and buy low: +$5 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	Bybit SPKUSDT	0.02147	0.0100	pay 0.0050% / 4h	46m 05s	$1.8M	$2.2M	25x
Short	Kraken Futures PF_SPKUSD	0.02148	0.2110	get 0.0264% / 1h	46m 05s	$22K	$25K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bybit. 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 BybitbpFee Kraken FuturesbpOrdersPrice spread, now +0.051%Rate

Funding earned: $422.11
Price spread: +0.051% → 0.000%: $5.13
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $406.24
Costs to cover: 0.210%
Break-even: 0.3 days

Slippage unknown: Bybit: live order book, 1 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 Bybit live order book, 1 min ago	4.66 bp	39.7 bp −$40	151.0 bp −$1,510	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	−0.0386%	4h	0.02148	+0.047%	$148K	$136K	50x	as long as short
Aster SPKUSDT	−0.0163%	4h	0.02148	+0.047%	$14K	$75K	5x	as long as short
BloFin SPK-USDT	+0.0056%	4h	0.02144	−0.140%	$186K	$29K	50x	as long as short
Binance SPKUSDT	+0.0100%	4h	0.02146	−0.047%	$3.7M	$5.6M	50x	as long as short
Bybit SPKUSDTlong	+0.0100%	4h	0.02147	long leg	$1.8M	$2.2M	25x
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02144	−0.140%	$753K	$2.0M	20x	as long as short
MEXC SPK_USDT	+0.0100%	4h	0.02146	−0.047%	$2.1M	$641K	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	0.02146	−0.047%	—	$2.3M	—	as long as short
Variational Omni SPK	+0.0100%	4h	0.02146	−0.065%	$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	0.02192	+2.096%	$929	$1.1M	20x	as long as short
Extended SPK-USD	+0.0104%	1h	0.02145	−0.073%	$2K	$140K	5x	as long as short
KuCoin SPKUSDTM	+0.0424%	4h	0.02154	+0.326%	$1.1M	$475K	30x	as long as short
Kraken Futures PF_SPKUSDshort	+0.2110%	1h	0.02148	+0.051%	$22K	$25K	10x