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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0147%/8h= +16.1% APRpaid last 24h +0.139%

Price spread now: Variational Omni against Deribit−0.367%7-day average −0.065% · you buy dearer than you sell

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

Long on Deribit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.270%+$27 on $10k

Price spread, last 3 days (all we have)+0.404%+$40 · spread now −0.367%, 7d avg −0.065%

Together, before fees+0.674%+ Points / potential airdropVariational Omni: Active · farm board+$67 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.301% cheaper against Deribit than usual: you would sell low and buy high (spread −0.367% now, against its 7-day average of −0.065%). If the spread goes back, that is −$30 on $10k: about 6.8 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit 1000BONK_USDC-PERPETUAL	0.000003361	−0.0047	get 0.0006% / 1h	43m 13s	$2K	$110K	10x
Short	Variational Omni 1000BONK	0.000003349	0.0100	get 0.0050% / 4h	1h 43m	$301K	$102K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Deribit. 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 DeribitbpFee Variational OmnibpOrdersPrice spread, now −0.367%Rate

Funding earned: $30.96
Price spread: −0.367% → −0.065%: −$30.13
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$6.16
Costs to cover: 0.070%
Break-even: 8.4 days

Slippage unknown: Deribit: live order book, 6 min ago; Variational Omni: RFQ quote, 41 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 Deribit live order book, 6 min ago	7.46 bp	13.9 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 41 min ago	7.40 bp	doesn't fit	60.7 bp −$607	doesn't fit	doesn't fit

BONK on 31 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
Coinbase International 1000BONK-PERP-INTX	−0.0248%	1h	0.000003327	−1.012%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003364	+0.089%	$1.0M	$13.2M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0071%	4h	0.000003359	−0.060%	$29K	$41K	20x	as long as short
Deribit 1000BONK_USDC-PERPETUALlong	−0.0047%	1h	0.000003361	long leg	$2K	$110K	10x
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003360	−0.042%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003363	+0.050%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.589%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003360	−0.023%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003363	+0.060%	$195K	$294K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003363	+0.047%	$64K	$251K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	0.000003363	+0.060%	$115K	$122K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003361	+0.009%	$15.1M	$51.3M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003361	−0.009%	$10.2M	$16.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003363	+0.060%	$2.4M	$7.7M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003361	0.000%	$747K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003360	−0.030%	$10.1M	$6.5M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003361	−0.009%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003361	0.000%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003360	−0.030%	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003365	+0.119%	$30K	$7K	10x	as long as short
Variational Omni 1000BONKshort	+0.0100%	4h	0.000003349	−0.367%	$301K	$102K	—
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003356	−0.149%	$57K	$698K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003362	+0.045%	$19K	$106K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003366	+0.149%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003361	0.000%	$2K	$6K	10x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003359	−0.046%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003358	−0.089%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.741%	$562	—	100x	as long as short
HTX BONK-USDT	+0.0234%	4h	0.000003375	+0.417%	$88K	$144K	30x	as long as short
Hyperliquid kBONK	+0.0870%	1h	0.000003370	+0.268%	$10.0M	$7.3M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.0962%	1h	0.000003366	+0.144%	$204K	$149K	50x	as long as short