Funding arb · Price arb /

SPK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.102%

Price spread now: BingX against KuCoin−0.228%7-day average −0.164% · you buy dearer than you sell

Net, funding: paid 7d − costs−$522as in the Funding arb table

Net, price: spread back to 7d avg − costs−$519as in the Price arb table

costs, in and out, $10k−$5125.122% of the position

Long on KuCoin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.102%−$10 on $10k

Price spread, last 4 days (all we have)+0.076%+$8 · spread now −0.228%, 7d avg −0.164%

Together, before fees−0.026%−$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.064% cheaper against KuCoin than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.164%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SPKUSDTM	0.02189	0.0100	pay 0.0050% / 4h	2h 26m	$990K	$432K	30x
Short	BingX SPK-USDT	0.02184	0.0100	get 0.0050% / 4h	2h 26m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against KuCoin. 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 KuCoinbpFee BingXbpOrdersPrice spread, now −0.228%Rate

Funding earned: $0
Price spread: −0.228% → −0.164%: −$6.43
Slippage, 4 orders: −$490.19
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$518.63
Costs to cover: 5.122%
Break-even: never at this rate

Slippage from KuCoin: live order book, 23 min ago; BingX: live order book, 3 min ago.

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 KuCoin live order book, 23 min ago	13.90 bp	97.9 bp −$98	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	6.88 bp	27.3 bp −$27	84.8 bp −$848	doesn't fit	doesn't fit

SPK on 13 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	−0.0212%	4h	0.02184	−0.228%	$142K	$132K	50x	as long as short
Aster SPKUSDT	+0.0069%	4h	0.02184	−0.228%	$9K	$66K	5x	as long as short
Binance SPKUSDT	+0.0100%	4h	0.02182	−0.320%	$3.8M	$5.7M	50x	as long as short
Bybit SPKUSDT	+0.0100%	4h	0.02184	−0.215%	$1.9M	$2.2M	25x	as long as short
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02184	−0.228%	$769K	$2.1M	20x	as long as short
MEXC SPK_USDT	+0.0100%	4h	0.02182	−0.320%	$2.2M	$654K	50x	as long as short
KuCoin SPKUSDTMlong	+0.0100%	4h	0.02189	long leg	$990K	$432K	30x
Bitget SPKUSDT	+0.0100%	4h	0.02184	−0.228%	$1.3M	$1.4M	50x	as long as short
BingX SPK-USDTshort	+0.0100%	4h	0.02184	−0.228%	—	$2.3M	—
Variational Omni SPK	+0.0100%	4h	0.02182	−0.336%	$177K	$76K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SPK-USDT	+0.0100%	4h	0.02230	+1.873%	$919	$1.2M	20x	as long as short
Extended SPK-USD	+0.0104%	1h	0.02181	−0.356%	$3K	$146K	5x	as long as short
Kraken Futures PF_SPKUSD	+0.0801%	1h	0.02190	+0.039%	$23K	$28K	10x	as long as short