Funding arb · Price arb /

SPK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.5971%/8h= −653.9% APRpaid last 24h −0.417%

Price spread now: SunX against Kraken Futures+1.708%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 SunX

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. SunX is 1.708% dearer against Kraken Futures than usual: you sell high and buy low (spread +1.708% now, against zero (this spread has no 7-day history yet)): +$171 on $10k if it goes back. Holding the pair costs −$179 a day in funding at the current rate, which eats that in about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SPKUSD	0.02170	0.6071	pay 0.0759% / 1h	47m 11s	$23K	$25K	10x
Short	SunX SPK-USDT	0.02207	0.0100	get 0.0050% / 4h	3h 47m	$898	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +1.708%Rate

Funding earned: −$1,253.99
Price spread: +1.708% → 0.000%: $170.85
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$1,101.14
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Kraken Futures: no order-book sample; SunX: live order book, 6 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 SunX live order book, 6 min ago	279.10 bp	doesn't fit	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
Gate SPK_USDT	−0.0074%	4h	0.02159	−0.504%	$145K	$145K	50x	as long as short
Bybit SPKUSDT	−0.0024%	4h	0.02158	−0.550%	$1.8M	$2.3M	25x	as long as short
Aster SPKUSDT	+0.0075%	4h	0.02160	−0.449%	$19K	$81K	5x	as long as short
Binance SPKUSDT	+0.0100%	4h	0.02158	−0.547%	$3.8M	$5.8M	50x	as long as short
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02159	−0.504%	$734K	$2.1M	20x	as long as short
MEXC SPK_USDT	+0.0100%	4h	0.02159	−0.504%	$2.0M	$651K	50x	as long as short
Bitget SPKUSDT	+0.0100%	4h	0.02157	−0.596%	$1.2M	$1.4M	50x	as long as short
BingX SPK-USDT	+0.0100%	4h	0.02160	−0.457%	—	$2.3M	—	as long as short
Variational Omni SPK	+0.0100%	4h	0.02156	−0.635%	$170K	$82K	—	as long as short
SunX SPK-USDTshort	+0.0100%	4h	0.02207	+1.708%	$898	$1.2M	20x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SPK-USD	+0.0104%	1h	0.02158	−0.533%	$4K	$197K	5x	as long as short
BloFin SPK-USDT	+0.0151%	4h	0.02157	−0.596%	$188K	$21K	50x	as long as short
KuCoin SPKUSDTM	+0.0656%	4h	0.02168	−0.089%	$1.1M	$453K	30x	as long as short
Kraken Futures PF_SPKUSDlong	+0.6071%	1h	0.02170	long leg	$23K	$25K	10x