Funding arb · Price arb /

SPK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against Variational Omni+0.360%7-day average −0.021% · you sell dearer than you buy

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

Long on Variational Omni Short on Extended

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.016%+$2 on $10k

Price spread, last 4 days (all we have)−0.950%−$95 · spread now +0.360%, 7d avg −0.021%

Together, before fees−0.935%+ Points / potential airdropVariational Omni: Active · Extended: Active · farm board−$93 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: Extended is 0.381% dearer against Variational Omni than usual: you sell high and buy low, +$38 on $10k if it goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SPK	0.02178	0.0100	pay 0.0050% / 4h	2h 32m	$165K	$66K	—
Short	Extended SPK-USD	0.02186	0.0104	get 0.0013% / 1h	32m 21s	$1K	$141K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Variational Omni. 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 Variational OmnibpFee ExtendedbpOrdersPrice spread, now +0.360%Rate

Funding earned: $0.84
Price spread: +0.360% → −0.021%: $38.07
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $33.91
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 37 min ago; Extended: live order book, 33 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, 37 min ago	9.15 bp	doesn't fit	137.3 bp −$1,373	doesn't fit	doesn't fit
Sell Extended live order book, 33 min ago	4.81 bp	34.3 bp −$34	225.0 bp −$2,250	doesn't fit	doesn't fit

SPK on 13 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	−0.0238%	4h	0.02184	+0.268%	$143K	$131K	50x	as long as short
Aster SPKUSDT	+0.0066%	4h	0.02185	+0.296%	$9K	$66K	5x	as long as short
Binance SPKUSDT	+0.0100%	4h	0.02187	+0.423%	$3.8M	$5.7M	50x	as long as short
Bybit SPKUSDT	+0.0100%	4h	0.02186	+0.378%	$1.9M	$2.2M	25x	as long as short
OKX SPK-USDT-SWAP	+0.0100%	4h	0.02185	+0.314%	$771K	$2.0M	20x	as long as short
MEXC SPK_USDT	+0.0100%	4h	0.02187	+0.406%	$2.1M	$640K	50x	as long as short
KuCoin SPKUSDTM	+0.0100%	4h	0.02186	+0.360%	$945K	$413K	30x	as long as short
Bitget SPKUSDT	+0.0100%	4h	0.02187	+0.406%	$1.3M	$1.4M	50x	as long as short
BingX SPK-USDT	+0.0100%	4h	0.02187	+0.406%	—	$2.3M	—	as long as short
Variational Omni SPKlong	+0.0100%	4h	0.02178	long leg	$165K	$66K	—

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX SPK-USDT	+0.0100%	4h	0.02234	+2.564%	$1K	$1.2M	20x	as long as short
Extended SPK-USDshort	+0.0104%	1h	0.02186	+0.360%	$1K	$141K	5x
Kraken Futures PF_SPKUSD	+0.0797%	1h	0.02201	+1.042%	$23K	$28K	10x	as long as short