Funding arb · Price arb /

SPK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.2649%/8h= −290.1% APRpaid last 24h −0.373%

Price spread now: Binance against Kraken Futures−0.759%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Binance

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 against this trade now: funding costs −$79 a day on $10k at the current rate, and Binance is 0.759% cheaper against Kraken Futures than usual: you would sell low and buy high (−$76 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SPKUSD	0.02182	0.2749	pay 0.0344% / 1h	39m 30s	$23K	$28K	10x
Short	Binance SPKUSDT	0.02165	0.0100	get 0.0050% / 4h	1h 39m	$3.7M	$5.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now −0.759%Rate

Funding earned: −$556.26
Price spread: −0.759% → 0.000%: −$75.95
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$652.21
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Binance: live order book, 14 min ago. 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Binance live order book, 14 min ago	2.31 bp	27.7 bp −$28	104.0 bp −$1,040	doesn't fit	doesn't fit

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	−0.0556%	4h	0.02171	−0.484%	$141K	$131K	50x	as long as short
Aster SPKUSDT	−0.0134%	4h	0.02170	−0.544%	$12K	$72K	5x	as long as short
Binance SPKUSDTshort	+0.0100%	4h	0.02165	−0.759%	$3.7M	$5.7M	50x
Bybit SPKUSDT	+0.0100%	4h	0.02166	−0.704%	$1.9M	$2.2M	25x	as long as short
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02165	−0.759%	$764K	$2.0M	20x	as long as short
MEXC SPK_USDT	+0.0100%	4h	0.02165	−0.759%	$2.2M	$642K	50x	as long as short
KuCoin SPKUSDTM	+0.0100%	4h	0.02178	−0.164%	$1.1M	$477K	30x	as long as short
Bitget SPKUSDT	+0.0100%	4h	0.02169	−0.576%	$1.3M	$1.5M	50x	as long as short
BingX SPK-USDT	+0.0100%	4h	0.02167	−0.668%	—	$2.3M	—	as long as short
Variational Omni SPK	+0.0100%	4h	0.02171	−0.504%	$176K	$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	0.02216	+1.578%	$1K	$1.2M	20x	as long as short
Extended SPK-USD	+0.0104%	1h	0.02165	−0.740%	$723	$147K	5x	as long as short
BloFin SPK-USDT	+0.0145%	4h	0.02167	−0.668%	$189K	$31K	50x	as long as short
Kraken Futures PF_SPKUSDlong	+0.2749%	1h	0.02182	long leg	$23K	$28K	10x