Funding arb · Price arb /

SPK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: BingX against Extended−0.108%7-day average +0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$119as in the Funding arb table

Net, price: spread back to 7d avg − costs−$134as in the Price arb table

costs, in and out, $10k−$1181.183% of the position

Long on Extended Short on BingX

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)+0.081%+$8 · spread now −0.108%, 7d avg +0.049%

Together, before fees+0.073%+ Points / potential airdropExtended: Active · farm board+$7 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: BingX is 0.157% cheaper against Extended than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SPK-USD	0.02168	0.0104	pay 0.0013% / 1h	52m 31s	$4K	$194K	5x
Short	BingX SPK-USDT	0.02166	0.0100	get 0.0050% / 4h	52m 31s	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.108%Rate

Funding earned: −$0.84
Price spread: −0.108% → +0.049%: −$15.73
Slippage, 4 orders: −$103.31
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$134.89
Costs to cover: 1.183%
Break-even: never at this rate

Slippage from Extended: live order book, 48 min ago; BingX: live order book, 11 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, 48 min ago	5.33 bp	35.4 bp −$35	232.7 bp −$2,327	doesn't fit	doesn't fit
Sell BingX live order book, 11 min ago	6.91 bp	25.7 bp −$26	73.2 bp −$732	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	−0.0016%	4h	0.02170	+0.076%	$147K	$140K	50x	as long as short
Bybit SPKUSDT	+0.0061%	4h	0.02168	−0.016%	$1.8M	$2.3M	25x	as long as short
Aster SPKUSDT	+0.0100%	4h	0.02167	−0.057%	$19K	$81K	5x	as long as short
Binance SPKUSDT	+0.0100%	4h	0.02169	+0.030%	$3.8M	$5.8M	50x	as long as short
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02169	+0.030%	$742K	$2.1M	20x	as long as short
MEXC SPK_USDT	+0.0100%	4h	0.02167	−0.062%	$2.1M	$642K	50x	as long as short
Bitget SPKUSDT	+0.0100%	4h	0.02169	+0.030%	$1.2M	$1.4M	50x	as long as short
BingX SPK-USDTshort	+0.0100%	4h	0.02166	−0.108%	—	$2.3M	—
Variational Omni SPK	+0.0100%	4h	0.02161	−0.357%	$170K	$82K	—	as long as short
SunX SPK-USDT	+0.0100%	4h	0.02213	+2.059%	$751	$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	0.02168	long leg	$4K	$194K	5x
BloFin SPK-USDT	+0.0151%	4h	0.02169	+0.030%	$188K	$25K	50x	as long as short
KuCoin SPKUSDTM	+0.0768%	4h	0.02176	+0.353%	$1.1M	$473K	30x	as long as short
Kraken Futures PF_SPKUSD	+0.2430%	1h	0.02173	+0.215%	$23K	$25K	10x	as long as short