SPK arbitrage explained
Right now Spark (SPK) trades on 9 venues we scan: 9 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on Bybit perp at $0.0222 and the highest bid on Gate spot at $0.0222.
The widest SPK perpetual spread is between Binance and Bitget: long SPK on Binance at $0.0222 and short on Bitget at $0.0222 for +0.05% gross, or -0.11% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is 0.000% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best SPK route is to buy spot on Bitget and short the perpetual on Bitget: -0.04% gross, -0.24% net, with +0.030% a day of funding on the short leg.
Spot–spot SPK arbitrage (buy on Bitget, withdraw, deposit and sell on Gate) shows +0.05% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small SPK gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: SPK funding rates · SPK spread charts · Spark price · arbitrage scanner for all coins.