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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: Variational Omni against Pacifica−0.176%7-day average −0.067% · you buy dearer than you sell

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

Long on Pacifica Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.046%−$5 on $10k

Price spread, last 3 days (all we have)+0.346%+$35 · spread now −0.176%, 7d avg −0.067%

Together, before fees+0.300%+ Points / potential airdropPacifica: Active · Variational Omni: Active · farm board+$30 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.109% cheaper against Pacifica than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.067%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica kBONK	0.000003363	0.0100	pay 0.0013% / 1h	17m 20s	$114K	$123K	10x
Short	Variational Omni 1000BONK	0.000003357	0.0100	get 0.0050% / 4h	1h 17m	$301K	$121K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Pacifica. 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 PacificabpFee Variational OmnibpOrdersPrice spread, now −0.176%Rate

Funding earned: $0
Price spread: −0.176% → −0.067%: −$10.92
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$18.92
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 65 min ago; Variational Omni: RFQ quote, 2 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 Pacifica live order book, 65 min ago	4.45 bp	17.6 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	5.96 bp	doesn't fit	59.6 bp −$596	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	0.000003342	−0.624%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003356	−0.208%	$1.0M	$13.3M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0084%	4h	0.000003358	−0.149%	$29K	$41K	20x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	−0.0047%	1h	0.000003364	+0.030%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003359	−0.107%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003363	−0.013%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.646%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003359	−0.117%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003362	−0.030%	$189K	$301K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003360	−0.074%	$19K	$106K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDT	+0.0100%	4h	0.000003366	+0.102%	$65K	$251K	10x	as long as short
Pacifica kBONKlong	+0.0100%	1h	0.000003363	long leg	$114K	$123K	10x
Binance 1000BONKUSDT	+0.0100%	4h	0.000003359	−0.119%	$15.2M	$51.7M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003357	−0.178%	$10.1M	$16.7M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003359	−0.119%	$2.4M	$7.7M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003360	−0.089%	$720K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003361	−0.059%	$10.2M	$6.6M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003362	−0.018%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003356	−0.208%	$4.2M	$3.0M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003358	−0.149%	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003363	0.000%	$30K	$7K	10x	as long as short
Variational Omni 1000BONKshort	+0.0100%	4h	0.000003357	−0.176%	$301K	$121K	—
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003360	−0.089%	$57K	$699K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003367	+0.119%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003363	0.000%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003371	+0.238%	$91K	$151K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003358	−0.153%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003357	−0.178%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.794%	$562	—	100x	as long as short
Hyperliquid kBONK	+0.0925%	1h	0.000003367	+0.119%	$10.1M	$7.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.0962%	1h	0.000003369	+0.166%	$205K	$149K	50x	as long as short