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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Bybit against Variational Omni−0.104%7-day average +0.044% · you buy dearer than you sell

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.006%−$1 on $10k

Price spread, last 3 days (all we have)−0.101%−$10 · spread now −0.104%, 7d avg +0.044%

Together, before fees−0.106%+ Points / potential airdropVariational Omni: Active · farm board−$11 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: Bybit is 0.148% cheaper against Variational Omni than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni 1000BONK	0.000003373	0.0100	pay 0.0050% / 4h	2h 39m	$303K	$105K	—
Short	Bybit 1000BONKUSDT	0.000003369	0.0100	get 0.0050% / 4h	2h 39m	$10.2M	$16.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. 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 Variational OmnibpFee BybitbpOrdersPrice spread, now −0.104%Rate

Funding earned: $0
Price spread: −0.104% → +0.044%: −$14.8
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$25.8
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 49 min ago; Bybit: live order book, 4 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 Variational Omni RFQ quote, 49 min ago	8.83 bp	doesn't fit	47.1 bp −$471	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	2.96 bp	15.7 bp −$16	33.6 bp −$336	270.7 bp −$27.1K	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	−0.0320%	1h	0.000003373	+0.014%	$43K	$21K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003375	+0.074%	$1.0M	$13.1M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0037%	4h	0.000003373	+0.014%	$29K	$41K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003375	+0.080%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003371	−0.055%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003376	+0.103%	$2K	$110K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.921%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003376	+0.116%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003374	+0.044%	$199K	$288K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003374	+0.044%	$20K	$103K	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	0.000003378	+0.174%	$67K	$252K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003372	−0.015%	$116K	$116K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003372	−0.025%	$15.2M	$49.6M	75x	as long as short
Bybit 1000BONKUSDTshort	+0.0100%	4h	0.000003369	−0.104%	$10.2M	$16.1M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003370	−0.075%	$2.5M	$7.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003369	−0.104%	$742K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003370	−0.075%	$9.8M	$6.5M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003371	−0.039%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003371	−0.045%	$4.2M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003367	−0.164%	—	$8.0M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003380	+0.222%	$30K	$7K	10x	as long as short
Variational Omni 1000BONKlong	+0.0100%	4h	0.000003373	long leg	$303K	$105K	—
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003380	+0.222%	$57K	$693K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003379	+0.192%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003377	+0.133%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003384	+0.340%	$80K	$117K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003369	−0.101%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003370	−0.075%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−11.046%	$564	—	100x	as long as short
Hyperliquid kBONK	+0.0739%	1h	0.000003381	+0.252%	$10.0M	$7.0M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1136%	1h	0.000003381	+0.247%	$206K	$185K	50x	as long as short