Funding arb · Price arb /

SPK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.5917%/8h= +647.9% APRpaid last 24h +0.405%

Price spread now: Kraken Futures against SunX−1.233%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Kraken Futures

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

Funding pays, the price is against you. Kraken Futures is 1.233% cheaper against SunX than usual: you would sell low and buy high (spread −1.233% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$123 on $10k: about 17 hours of funding at the current rate (+$178 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX SPK-USDT	0.02217	0.0100	pay 0.0050% / 4h	3h 57m	$768	$1.2M	20x
Short	Kraken Futures PF_SPKUSD	0.02190	0.6017	get 0.0752% / 1h	57m 39s	$23K	$25K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against SunX. 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 SunXbpFee Kraken FuturesbpOrdersPrice spread, now −1.233%Rate

Funding earned: $1,242.5
Price spread: −1.233% → 0.000%: −$123.33
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $1,101.17
Costs to cover: 0.180%
Break-even: 0.8 days

Slippage unknown: SunX: live order book, 6 min ago; Kraken Futures: no order-book sample. 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 SunX live order book, 6 min ago	276.84 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

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	−0.1088%	4h	0.02170	−2.120%	$146K	$145K	50x	as long as short
Bybit SPKUSDT	−0.0479%	4h	0.02167	−2.255%	$1.8M	$2.3M	25x	as long as short
Aster SPKUSDT	+0.0091%	4h	0.02171	−2.077%	$19K	$81K	5x	as long as short
Binance SPKUSDT	+0.0100%	4h	0.02168	−2.210%	$3.8M	$5.8M	50x	as long as short
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02169	−2.165%	$739K	$2.1M	20x	as long as short
MEXC SPK_USDT	+0.0100%	4h	0.02169	−2.165%	$2.1M	$650K	50x	as long as short
Bitget SPKUSDT	+0.0100%	4h	0.02170	−2.120%	$1.2M	$1.4M	50x	as long as short
BingX SPK-USDT	+0.0100%	4h	0.02168	−2.210%	—	$2.3M	—	as long as short
Variational Omni SPK	+0.0100%	4h	0.02170	−2.111%	$171K	$82K	—	as long as short
SunX SPK-USDTlong	+0.0100%	4h	0.02217	long leg	$768	$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	0.02167	−2.237%	$4K	$197K	5x	as long as short
BloFin SPK-USDT	+0.0141%	4h	0.02170	−2.120%	$188K	$21K	50x	as long as short
KuCoin SPKUSDTM	+0.0682%	4h	0.02176	−1.849%	$1.1M	$453K	30x	as long as short
Kraken Futures PF_SPKUSDshort	+0.6017%	1h	0.02190	−1.233%	$23K	$25K	10x