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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Variational Omni against Extended−0.091%7-day average — · you buy dearer than you sell

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

Long on Extended 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 airdropExtended: Active · Variational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.091% cheaper against Extended than usual: you would sell low and buy high, −$9 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended IO-USD	0.1487	0.0104	pay 0.0013% / 1h	40m 50s	$3K	$215K	5x
Short	Variational Omni IO	0.1486	0.0100	get 0.0050% / 4h	2h 40m	$30K	$16K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Extended. 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 ExtendedbpFee Variational OmnibpOrdersPrice spread, now −0.091%Rate

Funding earned: −$0.84
Price spread: −0.091% → 0.000%: −$9.14
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$14.98
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 6 min ago; Variational Omni: no order-book sample. 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 Extended live order book, 6 min ago	7.70 bp	83.7 bp −$84	542.5 bp −$5,425	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

Variational Omni: 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.

IO on 14 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
Hyperliquid IO	+0.0100%	1h	0.1488	+0.045%	$994K	$363K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1487	−0.025%	$23K	$47K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1487	−0.034%	$2.9M	$6.4M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1485	−0.143%	$1.1M	$899K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1487	−0.002%	$231K	$445K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1486	−0.076%	$1.2M	$230K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1487	−0.009%	$347K	$624K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1489	+0.126%	$1.4M	$1.3M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1486	−0.076%	—	$1.3M	—	as long as short
Variational Omni IOshort	+0.0100%	4h	0.1486	−0.091%	$30K	$16K	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IO-USDlong	+0.0104%	1h	0.1487	long leg	$3K	$215K	5x
BloFin IO-USDT	+0.0131%	4h	0.1487	−0.009%	$193K	$38K	50x	as long as short
Injective IO/USDC PERP	+0.0619%	1h	0.1494	+0.462%	$2K	$198	5.5x	as long as short
Kraken Futures PF_IOUSD	+2.7464%	1h	0.1490	+0.182%	$38K	$10K	10x	as long as short