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: BingX against Variational Omni+0.156%7-day average +0.034% · you sell dearer than you buy

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

Long on Variational Omni Short on BingX

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)−0.410%−$41 · spread now +0.156%, 7d avg +0.034%

Together, before fees−0.399%+ Points / potential airdropVariational Omni: Active · farm board−$40 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: BingX is 0.122% dearer against Variational Omni than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SPK	0.02163	0.0100	pay 0.0050% / 4h	1h 44m	$175K	$76K	—
Short	BingX SPK-USDT	0.02166	0.0100	get 0.0050% / 4h	1h 44m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Variational Omni. 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 Variational OmnibpFee BingXbpOrdersPrice spread, now +0.156%Rate

Funding earned: $0
Price spread: +0.156% → +0.034%: $12.2
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: $2.2
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 19 min ago; BingX: live order book, 3 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 Variational Omni RFQ quote, 19 min ago	9.18 bp	doesn't fit	156.0 bp −$1,560	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	6.95 bp	31.3 bp −$31	83.1 bp −$831	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	−0.0524%	4h	0.02164	+0.064%	$141K	$130K	50x	as long as short
Aster SPKUSDT	−0.0131%	4h	0.02167	+0.207%	$12K	$72K	5x	as long as short
Binance SPKUSDT	+0.0100%	4h	0.02164	+0.067%	$3.7M	$5.7M	50x	as long as short
Bybit SPKUSDT	+0.0100%	4h	0.02167	+0.216%	$1.9M	$2.2M	25x	as long as short
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02168	+0.249%	$764K	$2.0M	20x	as long as short
MEXC SPK_USDT	+0.0100%	4h	0.02166	+0.156%	$2.2M	$641K	50x	as long as short
KuCoin SPKUSDTM	+0.0100%	4h	0.02174	+0.526%	$1.1M	$476K	30x	as long as short
Bitget SPKUSDT	+0.0100%	4h	0.02167	+0.202%	$1.2M	$1.5M	50x	as long as short
BingX SPK-USDTshort	+0.0100%	4h	0.02166	+0.156%	—	$2.3M	—
Variational Omni SPKlong	+0.0100%	4h	0.02163	long leg	$175K	$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	0.02213	+2.330%	$934	$1.2M	20x	as long as short
Extended SPK-USD	+0.0104%	1h	0.02166	+0.153%	$723	$147K	5x	as long as short
BloFin SPK-USDT	+0.0156%	4h	0.02164	+0.064%	$189K	$31K	50x	as long as short
Kraken Futures PF_SPKUSD	+0.2745%	1h	0.02185	+1.025%	$23K	$28K	10x	as long as short