Funding arb · Price arb /

SPK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against BingX+0.190%7-day average −0.038% · you sell dearer than you buy

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

Long on BingX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.010%−$1 on $10k

Price spread, last 4 days (all we have)−0.036%−$4 · spread now +0.190%, 7d avg −0.038%

Together, before fees−0.047%+ Points / potential airdropVariational Omni: Active · farm board−$5 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: Variational Omni is 0.227% dearer against BingX than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of −0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SPK-USDT	0.02170	0.0100	pay 0.0050% / 4h	1h 03m	—	$2.3M	—
Short	Variational Omni SPK	0.02174	0.0100	get 0.0050% / 4h	1h 03m	$171K	$82K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against BingX. 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 BingXbpFee Variational OmnibpOrdersPrice spread, now +0.190%Rate

Funding earned: $0
Price spread: +0.190% → −0.038%: $22.75
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $12.75
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 15 min ago; Variational Omni: RFQ quote, 40 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 BingX live order book, 15 min ago	2.31 bp	35.4 bp −$35	81.3 bp −$813	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 40 min ago	9.26 bp	doesn't fit	143.6 bp −$1,436	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
Gate SPK_USDT	+0.0074%	4h	0.02173	+0.138%	$147K	$142K	50x	as long as short
BloFin SPK-USDT	+0.0096%	4h	0.02172	+0.092%	$187K	$25K	50x	as long as short
Aster SPKUSDT	+0.0100%	4h	0.02172	+0.084%	$19K	$81K	5x	as long as short
Binance SPKUSDT	+0.0100%	4h	0.02170	+0.020%	$3.8M	$5.8M	50x	as long as short
Bybit SPKUSDT	+0.0100%	4h	0.02168	−0.092%	$1.8M	$2.3M	25x	as long as short
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02169	−0.046%	$743K	$2.1M	20x	as long as short
MEXC SPK_USDT	+0.0100%	4h	0.02170	0.000%	$2.1M	$645K	50x	as long as short
Bitget SPKUSDT	+0.0100%	4h	0.02171	+0.046%	$1.2M	$1.4M	50x	as long as short
BingX SPK-USDTlong	+0.0100%	4h	0.02170	long leg	—	$2.3M	—
Variational Omni SPKshort	+0.0100%	4h	0.02174	+0.190%	$171K	$82K	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SPK-USDT	+0.0100%	4h	0.02217	+2.166%	$798	$1.2M	20x	as long as short
Extended SPK-USD	+0.0104%	1h	0.02169	−0.028%	$2K	$189K	5x	as long as short
KuCoin SPKUSDTM	+0.0860%	4h	0.02180	+0.461%	$1.1M	$477K	30x	as long as short
Kraken Futures PF_SPKUSD	+0.3002%	1h	0.02176	+0.267%	$23K	$25K	10x	as long as short