We present a feasible homopolar dynamo design consisting of a flat, multi-arm spiral coil, which is placed above a fast-spinning metal ring and connected to the latter by sliding liquid-metal electrical contacts. Using a simple, analytically solvable axisymmetric model, we determine the optimal design of such a setup. For small contact resistance, the lowest magnetic Reynolds number, Rm ≈ 34.6, at which the dynamo can work, is attained at the optimal ratio of the outer and inner radii of the rings R i /R o ≈ 0.36 and the spiral pitch angle 54.7• . In a setup of two copper rings with the thickness of 3 cm, R i = 10 cm and R o = 30 cm, self-excitation of the magnetic field is expected at a critical rotation frequency around 10 Hz.