Funding arb · Price arb /

SPK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0247%/8h= −27.1% APRpaid last 24h −0.455%

Price spread now: BloFin against Kraken Futures+0.044%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on BloFin

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

The price spread pays, funding is against you. BloFin is 0.044% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.044% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SPKUSD	0.02115	0.0317	pay 0.0040% / 1h	50m 33s	$22K	$8K	10x
Short	BloFin SPK-USDT	0.02116	0.0070	get 0.0035% / 4h	50m 33s	$180K	$17K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$51.9
Price spread: +0.044% → 0.000%: $4.43
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$69.47
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; BloFin: live order book, 47 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 BloFin live order book, 47 min ago	2.34 bp	20.5 bp −$20	53.2 bp −$532	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 exchanges

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-USDTshort	+0.0070%	4h	0.02116	+0.044%	$180K	$17K	50x
Aster SPKUSDT	+0.0100%	4h	0.02118	+0.139%	$18K	$72K	5x	as long as short
Binance SPKUSDT	+0.0100%	4h	0.02117	+0.092%	$3.7M	$5.3M	50x	as long as short
Bybit SPKUSDT	+0.0100%	4h	0.02115	−0.003%	$1.8M	$2.2M	25x	as long as short
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02118	+0.139%	$714K	$2.0M	20x	as long as short
Gate SPK_USDT	+0.0100%	4h	0.02116	+0.044%	$137K	$111K	50x	as long as short
MEXC SPK_USDT	+0.0100%	4h	0.02115	−0.003%	$2.0M	$615K	50x	as long as short
Bitget SPKUSDT	+0.0100%	4h	0.02115	−0.003%	$1.2M	$1.2M	50x	as long as short
BingX SPK-USDT	+0.0100%	4h	0.02117	+0.092%	—	$2.3M	—	as long as short
Variational Omni SPK	+0.0100%	4h	0.02112	−0.124%	$166K	$65K	—	as long as short

Show all 14 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SPK-USDT	+0.0100%	4h	0.02161	+2.172%	$722	$1.1M	20x	as long as short
Extended SPK-USD	+0.0104%	1h	0.02113	−0.084%	$2K	$207K	5x	as long as short
Kraken Futures PF_SPKUSDlong	+0.0317%	1h	0.02115	long leg	$22K	$8K	10x
KuCoin SPKUSDTM	+0.0906%	4h	0.02121	+0.281%	$1.1M	$365K	30x	as long as short