Funding arb · Price arb /

SPK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Binance against Extended+0.064%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$1101.105% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)−0.005%$0 · spread now +0.064%, 7d avg +0.030%

Together, before fees−0.013%+ Points / potential airdropExtended: Active · farm board−$1 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: Binance is 0.033% dearer against Extended than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SPK-USD	0.02165	0.0104	pay 0.0013% / 1h	3m 45s	$2K	$140K	5x
Short	Binance SPKUSDT	0.02167	0.0100	get 0.0050% / 4h	3m 45s	$3.7M	$5.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Extended. 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 ExtendedbpFee BinancebpOrdersPrice spread, now +0.064%Rate

Funding earned: −$0.84
Price spread: +0.064% → +0.030%: $3.33
Slippage, 4 orders: −$95.5
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$108.01
Costs to cover: 1.105%
Break-even: never at this rate

Slippage from Extended: live order book, 52 min ago; Binance: live order book, 4 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 Extended live order book, 52 min ago	4.18 bp	33.2 bp −$33	244.9 bp −$2,449	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	2.31 bp	22.3 bp −$22	54.6 bp −$546	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	−0.0122%	4h	0.02169	+0.168%	$150K	$136K	50x	as long as short
Aster SPKUSDT	−0.0052%	4h	0.02169	+0.168%	$16K	$76K	5x	as long as short
Binance SPKUSDTshort	+0.0100%	4h	0.02167	+0.064%	$3.7M	$5.6M	50x
Bybit SPKUSDT	+0.0100%	4h	0.02166	+0.029%	$1.8M	$2.2M	25x	as long as short
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02168	+0.122%	$763K	$2.0M	20x	as long as short
MEXC SPK_USDT	+0.0100%	4h	0.02166	+0.029%	$2.1M	$644K	50x	as long as short
Bitget SPKUSDT	+0.0100%	4h	0.02167	+0.075%	$1.2M	$1.4M	50x	as long as short
BingX SPK-USDT	+0.0100%	4h	0.02168	+0.122%	—	$2.3M	—	as long as short
Variational Omni SPK	+0.0100%	4h	0.02166	+0.035%	$176K	$76K	—	as long as short
SunX SPK-USDT	+0.0100%	4h	0.02213	+2.200%	$888	$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-USDlong	+0.0104%	1h	0.02165	long leg	$2K	$140K	5x
BloFin SPK-USDT	+0.0111%	4h	0.02169	+0.168%	$187K	$30K	50x	as long as short
KuCoin SPKUSDTM	+0.0766%	4h	0.02176	+0.491%	$1.1M	$476K	30x	as long as short
Kraken Futures PF_SPKUSD	+0.2090%	1h	0.02168	+0.140%	$23K	$25K	10x	as long as short