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 0.000%

Price spread now: Variational Omni against Bybit+0.262%7-day average −0.005% · you sell dearer than you buy

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.022%+$2 on $10k

Price spread, last 4 days (all we have)+0.059%+$6 · spread now +0.262%, 7d avg −0.005%

Together, before fees+0.082%+ Points / potential airdropVariational Omni: Active · farm board+$8 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 0.267% dearer against Bybit than usual: you sell high and buy low, +$27 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SPKUSDT	0.02152	0.0100	pay 0.0050% / 4h	52m 47s	$1.8M	$2.2M	25x
Short	Variational Omni SPK	0.02158	0.0100	get 0.0050% / 4h	52m 47s	$174K	$76K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now +0.262%Rate

Funding earned: $0
Price spread: +0.262% → −0.005%: $26.75
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $15.75
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 4 min ago; Variational Omni: RFQ quote, 6 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 Bybit live order book, 4 min ago	2.32 bp	24.0 bp −$24	133.5 bp −$1,335	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 6 min ago	11.61 bp	doesn't fit	151.0 bp −$1,510	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	−0.0364%	4h	0.02156	+0.186%	$148K	$136K	50x	as long as short
Aster SPKUSDT	−0.0135%	4h	0.02156	+0.190%	$13K	$74K	5x	as long as short
Binance SPKUSDT	+0.0100%	4h	0.02153	+0.039%	$3.7M	$5.7M	50x	as long as short
Bybit SPKUSDTlong	+0.0100%	4h	0.02152	long leg	$1.8M	$2.2M	25x
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02152	0.000%	$759K	$2.0M	20x	as long as short
MEXC SPK_USDT	+0.0100%	4h	0.02153	+0.046%	$2.1M	$636K	50x	as long as short
Bitget SPKUSDT	+0.0100%	4h	0.02154	+0.093%	$1.2M	$1.5M	50x	as long as short
BingX SPK-USDT	+0.0100%	4h	0.02154	+0.093%	—	$2.3M	—	as long as short
Variational Omni SPKshort	+0.0100%	4h	0.02158	+0.262%	$174K	$76K	—
SunX SPK-USDT	+0.0100%	4h	0.02204	+2.416%	$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-USD	+0.0104%	1h	0.02154	+0.113%	$2K	$140K	5x	as long as short
BloFin SPK-USDT	+0.0142%	4h	0.02154	+0.093%	$187K	$29K	50x	as long as short
KuCoin SPKUSDTM	+0.0410%	4h	0.02163	+0.511%	$1.1M	$476K	30x	as long as short
Kraken Futures PF_SPKUSD	+0.2102%	1h	0.02156	+0.184%	$22K	$25K	10x	as long as short