Funding arb · Price arb /

SPK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0215%/8h= −23.5% APRpaid last 24h −0.457%

Price spread now: OKX against Kraken Futures−0.425%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 OKX

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 −$6 a day on $10k at the current rate, and OKX is 0.425% cheaper against Kraken Futures than usual: you would sell low and buy high (−$42 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	0.02127	0.0315	pay 0.0039% / 1h	50m 05s	$22K	$8K	10x
Short	OKX SPK-USDT-SWAP	0.02118	0.0100	get 0.0050% / 4h	50m 05s	$714K	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.425%Rate

Funding earned: −$45.16
Price spread: −0.425% → 0.000%: −$42.47
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$107.63
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; OKX: live order book, 5 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 OKX live order book, 5 min ago	4.72 bp	27.8 bp −$28	158.1 bp −$1,581	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-USDT	+0.0070%	4h	0.02116	−0.519%	$180K	$17K	50x	as long as short
Aster SPKUSDT	+0.0100%	4h	0.02118	−0.425%	$18K	$72K	5x	as long as short
Binance SPKUSDT	+0.0100%	4h	0.02117	−0.450%	$3.7M	$5.3M	50x	as long as short
Bybit SPKUSDT	+0.0100%	4h	0.02116	−0.495%	$1.8M	$2.2M	25x	as long as short
OKX SPK-USDT-SWAPshort	+0.0100%	4h	0.02118	−0.425%	$714K	$2.0M	20x
Gate SPK_USDT	+0.0100%	4h	0.02118	−0.425%	$137K	$111K	50x	as long as short
MEXC SPK_USDT	+0.0100%	4h	0.02117	−0.472%	$2.0M	$615K	50x	as long as short
Bitget SPKUSDT	+0.0100%	4h	0.02118	−0.425%	$1.2M	$1.3M	50x	as long as short
BingX SPK-USDT	+0.0100%	4h	0.02118	−0.425%	—	$2.3M	—	as long as short
Variational Omni SPK	+0.0100%	4h	0.02112	−0.686%	$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	0.02164	+1.738%	$704	$1.1M	20x	as long as short
Extended SPK-USD	+0.0104%	1h	0.02117	−0.483%	$2K	$207K	5x	as long as short
Kraken Futures PF_SPKUSDlong	+0.0315%	1h	0.02127	long leg	$22K	$8K	10x
KuCoin SPKUSDTM	+0.0902%	4h	0.02122	−0.237%	$1.1M	$365K	30x	as long as short