The cheaper option that works very well for me is fine grind oats.
Spirulina appears to have two advantages:
1) Fish that eat whiteworms raised on spirulina also eat spirulina inside warms, which is healthier (for fish) than "kitchen" foods.
2) Various pests, such as fly larvae, appear to be less fond of spirulina than of "kitchen" foods.
Also, some of my fishes eat spirulina directly (e.g., guppies are quite crazy about it) and I am using small quantities of spirulina as supplementary feed for daphnia cultures. I am not entirely sure how effective it is on daphnia, daphnias are a bit of a mystery.
But in terms of quantity that they potentially can consume, white worms are leading by a big margin.