Funding arb · Price arb /

SPK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0930%/8h= −101.9% APRpaid last 24h −0.412%

Price spread now: Bitget against Kraken Futures−0.063%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 Bitget

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 −$28 a day on $10k at the current rate, and Bitget is 0.063% cheaper against Kraken Futures than usual: you would sell low and buy high (−$6 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	0.02179	0.1030	pay 0.0129% / 1h	15m 18s	$23K	$29K	10x
Short	Bitget SPKUSDT	0.02178	0.0100	get 0.0050% / 4h	3h 15m	$1.3M	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.063%Rate

Funding earned: −$195.38
Price spread: −0.063% → 0.000%: −$6.28
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$223.66
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Bitget: live order book, 1 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 Bitget live order book, 1 min ago	6.89 bp	22.2 bp −$22	83.9 bp −$839	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
BloFin SPK-USDT	+0.0044%	4h	0.02171	−0.384%	$190K	$30K	50x	as long as short
Aster SPKUSDT	+0.0100%	4h	0.02176	−0.164%	$10K	$64K	5x	as long as short
Binance SPKUSDT	+0.0100%	4h	0.02177	−0.108%	$3.8M	$5.6M	50x	as long as short
Bybit SPKUSDT	+0.0100%	4h	0.02178	−0.081%	$1.9M	$2.2M	25x	as long as short
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02177	−0.109%	$765K	$2.0M	20x	as long as short
Gate SPK_USDT	+0.0100%	4h	0.02175	−0.200%	$143K	$137K	50x	as long as short
MEXC SPK_USDT	+0.0100%	4h	0.02177	−0.109%	$2.1M	$642K	50x	as long as short
KuCoin SPKUSDTM	+0.0100%	4h	0.02180	+0.029%	$941K	$414K	30x	as long as short
Bitget SPKUSDTshort	+0.0100%	4h	0.02178	−0.063%	$1.3M	$1.5M	50x
BingX SPK-USDT	+0.0100%	4h	0.02176	−0.155%	—	$2.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SPK	+0.0100%	4h	0.02176	−0.147%	$165K	$65K	—	as long as short
SunX SPK-USDT	+0.0100%	4h	0.02225	+2.094%	$566	$1.1M	20x	as long as short
Extended SPK-USD	+0.0104%	1h	0.02177	−0.130%	$2K	$147K	5x	as long as short
Kraken Futures PF_SPKUSDlong	+0.1030%	1h	0.02179	long leg	$23K	$29K	10x