Funding arb · Price arb /

SPK

all SPK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.5917%/8h= −647.9% APRpaid last 24h −0.405%

Price spread now: BingX against Kraken Futures−1.126%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 BingX

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 −$178 a day on $10k at the current rate, and BingX is 1.126% cheaper against Kraken Futures than usual: you would sell low and buy high (−$113 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	0.02190	0.6017	pay 0.0752% / 1h	58m 06s	$23K	$25K	10x
Short	BingX SPK-USDT	0.02165	0.0100	get 0.0050% / 4h	3h 58m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −1.126%Rate

Funding earned: −$1,242.5
Price spread: −1.126% → 0.000%: −$112.61
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$1,375.11
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; BingX: live order book, 6 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 BingX live order book, 6 min ago	6.91 bp	28.1 bp −$28	85.7 bp −$857	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	−0.1198%	4h	0.02169	−0.943%	$146K	$145K	50x	as long as short
Bybit SPKUSDT	−0.0063%	4h	0.02165	−1.126%	$1.8M	$2.3M	25x	as long as short
Aster SPKUSDT	+0.0099%	4h	0.02170	−0.888%	$19K	$81K	5x	as long as short
Binance SPKUSDT	+0.0100%	4h	0.02166	−1.069%	$3.8M	$5.8M	50x	as long as short
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02166	−1.080%	$739K	$2.1M	20x	as long as short
MEXC SPK_USDT	+0.0100%	4h	0.02164	−1.172%	$2.0M	$650K	50x	as long as short
Bitget SPKUSDT	+0.0100%	4h	0.02165	−1.126%	$1.2M	$1.4M	50x	as long as short
BingX SPK-USDTshort	+0.0100%	4h	0.02165	−1.126%	—	$2.3M	—
Variational Omni SPK	+0.0100%	4h	0.02170	−0.888%	$171K	$82K	—	as long as short
SunX SPK-USDT	+0.0100%	4h	0.02217	+1.249%	$768	$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-USD	+0.0104%	1h	0.02166	−1.062%	$4K	$197K	5x	as long as short
BloFin SPK-USDT	+0.0141%	4h	0.02170	−0.898%	$188K	$21K	50x	as long as short
KuCoin SPKUSDTM	+0.0692%	4h	0.02175	−0.669%	$1.1M	$453K	30x	as long as short
Kraken Futures PF_SPKUSDlong	+0.6017%	1h	0.02190	long leg	$23K	$25K	10x