Funding arb · Price arb /

SPK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0823%/8h= −90.1% APRpaid last 24h −0.414%

Price spread now: Gate against Kraken Futures−0.480%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 Gate

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 −$25 a day on $10k at the current rate, and Gate is 0.480% cheaper against Kraken Futures than usual: you would sell low and buy high (−$48 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	0.02147	0.0923	pay 0.0115% / 1h	23m 11s	$22K	$25K	10x
Short	Gate SPK_USDT	0.02137	0.0100	get 0.0050% / 4h	2h 23m	$146K	$136K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.480%Rate

Funding earned: −$172.88
Price spread: −0.480% → 0.000%: −$47.98
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$245.86
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Gate: live order book, 18 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 Gate live order book, 18 min ago	14.00 bp	528.1 bp −$528	doesn't fit	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
Bybit SPKUSDT	−0.0115%	4h	0.02137	−0.480%	$1.8M	$2.2M	25x	as long as short
Aster SPKUSDT	+0.0010%	4h	0.02140	−0.329%	$18K	$80K	5x	as long as short
BloFin SPK-USDT	+0.0048%	4h	0.02139	−0.387%	$187K	$25K	50x	as long as short
Binance SPKUSDT	+0.0100%	4h	0.02138	−0.433%	$3.8M	$5.8M	50x	as long as short
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02136	−0.526%	$732K	$2.0M	20x	as long as short
Gate SPK_USDTshort	+0.0100%	4h	0.02137	−0.480%	$146K	$136K	50x
MEXC SPK_USDT	+0.0100%	4h	0.02137	−0.480%	$2.1M	$641K	50x	as long as short
Bitget SPKUSDT	+0.0100%	4h	0.02136	−0.526%	$1.2M	$1.4M	50x	as long as short
BingX SPK-USDT	+0.0100%	4h	0.02137	−0.480%	—	$2.3M	—	as long as short
Variational Omni SPK	+0.0100%	4h	0.02131	−0.776%	$168K	$82K	—	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	0.02183	+1.662%	$936	$1.2M	20x	as long as short
Extended SPK-USD	+0.0104%	1h	0.02137	−0.501%	$3K	$193K	5x	as long as short
KuCoin SPKUSDTM	+0.0756%	4h	0.02143	−0.200%	$1.1M	$476K	30x	as long as short
Kraken Futures PF_SPKUSDlong	+0.0923%	1h	0.02147	long leg	$22K	$25K	10x