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 MEXC−0.041%7-day average −0.008% · you buy dearer than you sell

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

Long on MEXC Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.010%−$1 on $10k

Price spread, last 4 days (all we have)+0.230%+$23 · spread now −0.041%, 7d avg −0.008%

Together, before fees+0.219%+ Points / potential airdropVariational Omni: Active · farm board+$22 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 0.033% cheaper against MEXC than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SPK_USDT	0.02167	0.0100	pay 0.0050% / 4h	2m 10s	$2.1M	$644K	50x
Short	Variational Omni SPK	0.02166	0.0100	get 0.0050% / 4h	2m 10s	$176K	$76K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against MEXC. 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 MEXCbpFee Variational OmnibpOrdersPrice spread, now −0.041%Rate

Funding earned: $0
Price spread: −0.041% → −0.008%: −$3.26
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$7.26
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 5 min ago; Variational Omni: RFQ quote, 57 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 MEXC live order book, 5 min ago	2.31 bp	8.1 bp −$8	53.8 bp −$538	231.8 bp −$23.2K	468.4 bp −$234.2K
Sell Variational Omni RFQ quote, 57 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	−0.0114%	4h	0.02169	+0.092%	$150K	$136K	50x	as long as short
Aster SPKUSDT	−0.0049%	4h	0.02170	+0.162%	$16K	$76K	5x	as long as short
Binance SPKUSDT	+0.0100%	4h	0.02167	+0.018%	$3.7M	$5.6M	50x	as long as short
Bybit SPKUSDT	+0.0100%	4h	0.02168	+0.046%	$1.8M	$2.2M	25x	as long as short
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02167	0.000%	$764K	$2.0M	20x	as long as short
MEXC SPK_USDTlong	+0.0100%	4h	0.02167	long leg	$2.1M	$644K	50x
Bitget SPKUSDT	+0.0100%	4h	0.02167	0.000%	$1.2M	$1.4M	50x	as long as short
BingX SPK-USDT	+0.0100%	4h	0.02169	+0.092%	—	$2.3M	—	as long as short
Variational Omni SPKshort	+0.0100%	4h	0.02166	−0.041%	$176K	$76K	—
SunX SPK-USDT	+0.0100%	4h	0.02215	+2.215%	$693	$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	0.02167	−0.010%	$4K	$145K	5x	as long as short
BloFin SPK-USDT	+0.0113%	4h	0.02166	−0.046%	$187K	$28K	50x	as long as short
KuCoin SPKUSDTM	+0.0766%	4h	0.02178	+0.508%	$1.1M	$476K	30x	as long as short
Kraken Futures PF_SPKUSD	+0.2088%	1h	0.02171	+0.183%	$23K	$25K	10x	as long as short