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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h +0.244%

Price spread now: Variational Omni against GMX+13.894%50s7-day average — · you sell dearer than you buy

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

Long on GMX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 13.894% dearer against GMX than usual: you sell high and buy low (spread +13.894% now, against zero (this spread has no 7-day history yet)): +$1,389 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 16 months. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BONK/USD [ETH-USDC]	0.000003000	L +0.0196% / S −0.3950%	pay 0.0025% / 1h	22m 33s	$528	—	100x
Short	Variational Omni 1000BONK	0.000003417	0.0100	get 0.0050% / 4h	3h 22m	$319K	$96K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against GMX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 GMXbpFee Variational OmnibpOrdersPrice spread, now +13.894%Rate

Funding earned: −$20.16
Price spread: +13.894% → 0.000%: $1,389.45
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $1,357.28
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Variational Omni: RFQ quote, 11 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 GMX no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 11 min ago	5.74 bp	doesn't fit	48.8 bp −$488	doesn't fit	doesn't fit

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0024%	1h	0.000003430	+14.333%	$43K	$82K	50x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003456	+15.187%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	+9.133%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003464	+15.482%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003464	+15.483%	$66K	$141K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003464	+15.467%	$47K	$295K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003459	+15.300%	$115K	$163K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003467	+15.567%	$17.9M	$90.8M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003461	+15.377%	$12.3M	$27.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003465	+15.500%	$3.0M	$15.1M	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BONK_USDT	+0.0100%	4h	0.000003459	+15.300%	$915K	$3.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003463	+15.433%	$11.0M	$10.6M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003462	+15.410%	$2.9M	$11.1M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003463	+15.433%	$4.5M	$5.4M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003462	+15.400%	—	$5.1M	—	as long as short
Variational Omni 1000BONKshort	+0.0100%	4h	0.000003417	+13.894%	$319K	$96K	—
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003420	+14.000%	$58K	$698K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003457	+15.233%	$30K	$51K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003463	+15.433%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003457	+15.233%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003461	+15.367%	$99K	$137K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003464	+15.453%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003458	+15.267%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0119%	4h	0.000003458	+15.267%	$1.1M	$19.7M	75x	as long as short
GMX BONK/USD [ETH-USDC]long	L +0.0196% / S −0.3950%	1h	0.000003000	long leg	$528	—	100x
dYdX BONK-USD	+0.0212%	1h	0.000003459	+15.314%	$13K	$11K	10x	as long as short
Lighter 1000BONK	+0.0280%	1h	0.000003463	+15.433%	$246K	$767K	10x	as long as short
Hyperliquid kBONK	+0.0604%	1h	0.000003470	+15.667%	$11.8M	$8.3M	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0618%	1h	0.000003461	+15.367%	$24K	$174K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1636%	1h	0.000003464	+15.467%	$53K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.3000%	1h	0.000003460	+15.334%	$175K	$273K	50x	as long as short