Funding arb · Price arb /

SPK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Variational Omni against Extended−0.314%7-day average +0.020% · you buy dearer than you sell

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

Long on Extended Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.017%−$2 on $10k

Price spread, last 4 days (all we have)+0.603%+$60 · spread now −0.314%, 7d avg +0.020%

Together, before fees+0.586%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board+$59 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 0.334% cheaper against Extended than usual: you would sell low and buy high, −$33 on $10k if it goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SPK-USD	0.02169	0.0104	pay 0.0013% / 1h	42m 58s	$723	$147K	5x
Short	Variational Omni SPK	0.02163	0.0100	get 0.0050% / 4h	1h 42m	$175K	$76K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Extended. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ExtendedbpFee Variational OmnibpOrdersPrice spread, now −0.314%Rate

Funding earned: −$0.84
Price spread: −0.314% → +0.020%: −$33.38
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$39.22
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 18 min ago; Variational Omni: RFQ quote, 21 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 Extended live order book, 18 min ago	5.06 bp	35.0 bp −$35	232.9 bp −$2,329	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 21 min ago	9.18 bp	doesn't fit	142.3 bp −$1,423	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	−0.0526%	4h	0.02166	−0.158%	$141K	$130K	50x	as long as short
Aster SPKUSDT	−0.0125%	4h	0.02168	−0.051%	$12K	$72K	5x	as long as short
BloFin SPK-USDT	+0.0082%	4h	0.02162	−0.342%	$189K	$31K	50x	as long as short
Binance SPKUSDT	+0.0100%	4h	0.02170	+0.027%	$3.7M	$5.7M	50x	as long as short
Bybit SPKUSDT	+0.0100%	4h	0.02170	+0.027%	$1.9M	$2.2M	25x	as long as short
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02171	+0.073%	$764K	$2.0M	20x	as long as short
MEXC SPK_USDT	+0.0100%	4h	0.02167	−0.112%	$2.2M	$641K	50x	as long as short
KuCoin SPKUSDTM	+0.0100%	4h	0.02176	+0.303%	$1.1M	$476K	30x	as long as short
Bitget SPKUSDT	+0.0100%	4h	0.02170	+0.027%	$1.2M	$1.5M	50x	as long as short
BingX SPK-USDT	+0.0100%	4h	0.02168	−0.066%	—	$2.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SPKshort	+0.0100%	4h	0.02163	−0.314%	$175K	$76K	—
SunX SPK-USDT	+0.0100%	4h	0.02214	+2.055%	$1K	$1.2M	20x	as long as short
Extended SPK-USDlong	+0.0104%	1h	0.02169	long leg	$723	$147K	5x
Kraken Futures PF_SPKUSD	+0.2746%	1h	0.02184	+0.658%	$23K	$28K	10x	as long as short