Funding arb · Price arb /

SPK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Bybit against Extended+0.073%7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$174as in the Funding arb table

Net, price: spread back to 7d avg − costs−$155as in the Price arb table

costs, in and out, $10k−$1601.602% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.135%−$14 on $10k

Price spread, last 4 days (all we have)−0.174%−$17 · spread now +0.073%, 7d avg +0.017%

Together, before fees−0.309%+ Points / potential airdropExtended: Active · farm board−$31 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: Bybit is 0.056% dearer against Extended than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SPK-USD	0.02183	0.0104	pay 0.0013% / 1h	31m 20s	$1K	$141K	5x
Short	Bybit SPKUSDT	0.02184	0.0100	get 0.0050% / 4h	2h 31m	$1.9M	$2.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.073%Rate

Funding earned: −$0.84
Price spread: +0.073% → +0.017%: $5.59
Slippage, 4 orders: −$144.24
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$155.49
Costs to cover: 1.602%
Break-even: never at this rate

Slippage from Extended: live order book, 34 min ago; Bybit: live order book, 1 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, 34 min ago	4.81 bp	33.4 bp −$33	231.7 bp −$2,317	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	2.29 bp	41.3 bp −$41	153.9 bp −$1,539	doesn't fit	doesn't fit

SPK on 13 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	−0.0222%	4h	0.02186	+0.160%	$143K	$131K	50x	as long as short
Aster SPKUSDT	+0.0066%	4h	0.02186	+0.164%	$9K	$66K	5x	as long as short
Binance SPKUSDT	+0.0100%	4h	0.02184	+0.068%	$3.8M	$5.7M	50x	as long as short
Bybit SPKUSDTshort	+0.0100%	4h	0.02184	+0.073%	$1.9M	$2.2M	25x
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02184	+0.068%	$770K	$2.0M	20x	as long as short
MEXC SPK_USDT	+0.0100%	4h	0.02184	+0.068%	$2.1M	$640K	50x	as long as short
KuCoin SPKUSDTM	+0.0100%	4h	0.02187	+0.206%	$946K	$414K	30x	as long as short
Bitget SPKUSDT	+0.0100%	4h	0.02185	+0.114%	$1.3M	$1.4M	50x	as long as short
BingX SPK-USDT	+0.0100%	4h	0.02185	+0.114%	—	$2.3M	—	as long as short
Variational Omni SPK	+0.0100%	4h	0.02186	+0.145%	$177K	$76K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SPK-USDT	+0.0100%	4h	0.02231	+2.222%	$1K	$1.2M	20x	as long as short
Extended SPK-USDlong	+0.0104%	1h	0.02183	long leg	$1K	$141K	5x
Kraken Futures PF_SPKUSD	+0.0801%	1h	0.02191	+0.379%	$23K	$28K	10x	as long as short