Funding arb · Price arb /

SPK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0704%/8h= −77.1% APRpaid last 24h −0.136%

Price spread now: Extended against KuCoin−0.632%7-day average −0.223% · you buy dearer than you sell

Net, funding: paid 7d − costs−$428as in the Funding arb table

Net, price: spread back to 7d avg − costs−$456as in the Price arb table

costs, in and out, $10k−$4154.151% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.129%−$13 on $10k

Price spread, last 4 days (all we have)+0.503%+$50 · spread now −0.632%, 7d avg −0.223%

Together, before fees+0.375%+ Points / potential airdropExtended: Active · farm board+$37 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and Extended is 0.409% cheaper against KuCoin than usual: you would sell low and buy high (−$41 if the spread goes back to its 7-day average of −0.223%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.129% in total (about -6.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SPKUSDTM	0.02158	0.0808	pay 0.0404% / 4h	2h 15m	$1.1M	$476K	30x
Short	Extended SPK-USD	0.02144	0.0104	get 0.0013% / 1h	15m 44s	$3K	$188K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.632%Rate

Funding earned: −$147.84
Price spread: −0.632% → −0.223%: −$40.9
Slippage, 4 orders: −$398.13
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$603.87
Costs to cover: 4.151%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Extended: live order book, 30 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, 4 min ago	13.88 bp	278.4 bp −$278	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 30 min ago	4.86 bp	32.1 bp −$32	215.6 bp −$2,156	doesn't fit	doesn't fit

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	+0.0037%	4h	0.02146	−0.538%	$1.8M	$2.2M	25x	as long as short
Aster SPKUSDT	+0.0043%	4h	0.02149	−0.413%	$18K	$81K	5x	as long as short
Binance SPKUSDT	+0.0100%	4h	0.02148	−0.463%	$3.8M	$5.8M	50x	as long as short
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02146	−0.556%	$734K	$2.1M	20x	as long as short
Gate SPK_USDT	+0.0100%	4h	0.02149	−0.417%	$147K	$136K	50x	as long as short
MEXC SPK_USDT	+0.0100%	4h	0.02146	−0.556%	$2.1M	$645K	50x	as long as short
Bitget SPKUSDT	+0.0100%	4h	0.02147	−0.510%	$1.2M	$1.4M	50x	as long as short
BingX SPK-USDT	+0.0100%	4h	0.02146	−0.556%	—	$2.3M	—	as long as short
Variational Omni SPK	+0.0100%	4h	0.02146	−0.549%	$169K	$82K	—	as long as short
SunX SPK-USDT	+0.0100%	4h	0.02193	+1.622%	$1K	$1.2M	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-USDshort	+0.0104%	1h	0.02144	−0.632%	$3K	$188K	5x
BloFin SPK-USDT	+0.0138%	4h	0.02151	−0.324%	$186K	$25K	50x	as long as short
KuCoin SPKUSDTMlong	+0.0808%	4h	0.02158	long leg	$1.1M	$476K	30x
Kraken Futures PF_SPKUSD	+0.0920%	1h	0.02154	−0.193%	$22K	$25K	10x	as long as short