Funding arb · Price arb /

SPK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.2012%/8h= −220.3% APRpaid last 24h −0.411%

Price spread now: MEXC against Kraken Futures+0.089%51s7-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 MEXC

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. MEXC is 0.089% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.089% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$60 a day in funding at the current rate, which eats that in about 4 hours. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SPKUSD	0.02146	0.2112	pay 0.0264% / 1h	40m 33s	$22K	$25K	10x
Short	MEXC SPK_USDT	0.02148	0.0100	get 0.0050% / 4h	40m 33s	$2.1M	$641K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.089%Rate

Funding earned: −$422.52
Price spread: +0.089% → 0.000%: $8.9
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$427.62
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; MEXC: 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 MEXC live order book, 1 min ago	2.33 bp	7.9 bp −$8	46.7 bp −$467	228.9 bp −$22.9K	550.2 bp −$275.1K

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	−0.0362%	4h	0.02148	+0.089%	$148K	$136K	50x	as long as short
Aster SPKUSDT	−0.0167%	4h	0.02149	+0.119%	$14K	$75K	5x	as long as short
Binance SPKUSDT	+0.0100%	4h	0.02147	+0.042%	$3.7M	$5.6M	50x	as long as short
Bybit SPKUSDT	+0.0100%	4h	0.02146	+0.014%	$1.8M	$2.2M	25x	as long as short
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02147	+0.042%	$756K	$2.0M	20x	as long as short
MEXC SPK_USDTshort	+0.0100%	4h	0.02148	+0.089%	$2.1M	$641K	50x
Bitget SPKUSDT	+0.0100%	4h	0.02147	+0.042%	$1.2M	$1.5M	50x	as long as short
BingX SPK-USDT	+0.0100%	4h	0.02146	−0.004%	—	$2.3M	—	as long as short
Variational Omni SPK	+0.0100%	4h	0.02143	−0.139%	$174K	$76K	—	as long as short
SunX SPK-USDT	+0.0100%	4h	0.02191	+2.093%	$1K	$1.1M	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	0.02146	+0.017%	$2K	$140K	5x	as long as short
BloFin SPK-USDT	+0.0117%	4h	0.02144	−0.097%	$187K	$29K	50x	as long as short
KuCoin SPKUSDTM	+0.0464%	4h	0.02154	+0.369%	$1.1M	$475K	30x	as long as short
Kraken Futures PF_SPKUSDlong	+0.2112%	1h	0.02146	long leg	$22K	$25K	10x