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 −0.103%

Price spread now: Variational Omni against KuCoin−0.295%7-day average −0.200% · you buy dearer than you sell

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

Long on KuCoin Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.114%−$11 on $10k

Price spread, last 4 days (all we have)+0.381%+$38 · spread now −0.295%, 7d avg −0.200%

Together, before fees+0.267%+ Points / potential airdropVariational Omni: Active · farm board+$27 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 0.095% cheaper against KuCoin than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.200%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin SPKUSDTM	0.02177	0.0100	pay 0.0050% / 4h	1h 39m	$1.1M	$476K	30x
Short	Variational Omni SPK	0.02171	0.0100	get 0.0050% / 4h	1h 39m	$176K	$76K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against KuCoin. 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 KuCoinbpFee Variational OmnibpOrdersPrice spread, now −0.295%Rate

Funding earned: $0
Price spread: −0.295% → −0.200%: −$9.47
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$21.47
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 1 min ago; Variational Omni: RFQ quote, 25 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 KuCoin live order book, 1 min ago	11.49 bp	181.0 bp −$181	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 25 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	−0.0556%	4h	0.02171	−0.276%	$141K	$131K	50x	as long as short
Aster SPKUSDT	−0.0134%	4h	0.02168	−0.403%	$12K	$72K	5x	as long as short
Binance SPKUSDT	+0.0100%	4h	0.02165	−0.560%	$3.7M	$5.7M	50x	as long as short
Bybit SPKUSDT	+0.0100%	4h	0.02166	−0.496%	$1.9M	$2.2M	25x	as long as short
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02164	−0.597%	$762K	$2.0M	20x	as long as short
MEXC SPK_USDT	+0.0100%	4h	0.02165	−0.551%	$2.2M	$642K	50x	as long as short
KuCoin SPKUSDTMlong	+0.0100%	4h	0.02177	long leg	$1.1M	$476K	30x
Bitget SPKUSDT	+0.0100%	4h	0.02169	−0.367%	$1.3M	$1.5M	50x	as long as short
BingX SPK-USDT	+0.0100%	4h	0.02167	−0.459%	—	$2.3M	—	as long as short
Variational Omni SPKshort	+0.0100%	4h	0.02171	−0.295%	$176K	$76K	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SPK-USDT	+0.0100%	4h	0.02215	+1.746%	$939	$1.2M	20x	as long as short
Extended SPK-USD	+0.0104%	1h	0.02165	−0.532%	$723	$147K	5x	as long as short
BloFin SPK-USDT	+0.0140%	4h	0.02167	−0.459%	$189K	$31K	50x	as long as short
Kraken Futures PF_SPKUSD	+0.2755%	1h	0.02177	−0.001%	$23K	$28K	10x	as long as short