I'm not an expert on either character but as quick and agile as Spidey seems to be portrayed it would seem as if he could control the pace of the fight.
Also, could Omega Red's weapons (the tendrils) be neutralized by spidey's webbing to any degree? I know they're very durable but being whiplike would they have the leverage burst out of a blob of webbing? I mean, in the heat of battle with Spider-Man raining 10-ton blows down on you.