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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.020%

Price spread now: Variational Omni against ApeX Omni+0.020%73s7-day average −0.145% · you sell dearer than you buy

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

Long on ApeX Omni Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.150%−$15 on $10k

Price spread, last 3 days (all we have)−0.340%−$34 · spread now +0.020%, 7d avg −0.145%

Together, before fees−0.490%+ Points / potential airdropVariational Omni: Active · farm board−$49 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 0.165% dearer against ApeX Omni than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.145%. The two prices were read 73 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	ApeX Omni ARUSDT	4.4610	0.0100	pay 0.0013% / 1h	6m 11s	$56K	$748K	50x
Short	Variational Omni AR	4.4619	0.0100	get 0.0100% / 8h	2h 06m	$135K	$174K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against ApeX 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 ApeX OmnibpFee Variational OmnibpOrdersPrice spread, now +0.020%Rate

Funding earned: $0
Price spread: +0.020% → −0.145%: $16.5
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $6.5
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: ApeX Omni: live order book, 18 min ago; Variational Omni: RFQ quote, 18 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 ApeX Omni live order book, 18 min ago	6.68 bp	15.7 bp −$16	132.5 bp −$1,325	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 18 min ago	4.94 bp	doesn't fit	132.6 bp −$1,326	doesn't fit	doesn't fit

AR on 17 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
Kraken Futures PF_ARUSD	−0.2015%	1h	4.4534	−0.170%	$46K	$155K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.4489	−0.271%	$572K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	+2.488%	$3K	$363	5.5x	as long as short
Hyperliquid AR	+0.0100%	1h	4.4582	−0.063%	$3.8M	$4.8M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.4512	−0.221%	$20K	$621K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.4440	−0.381%	$8.7M	$55.9M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.4440	−0.381%	$4.6M	$9.0M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.4430	−0.403%	$2.2M	$20.5M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.4460	−0.336%	$2.5M	$2.3M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.4440	−0.381%	$6.7M	$4.8M	100x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ARUSDTM	+0.0100%	8h	4.4540	−0.157%	$1.4M	$1.1M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.4500	−0.247%	$3.8M	$5.6M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.4430	−0.403%	—	$2.9M	—	as long as short
Variational Omni ARshort	+0.0100%	8h	4.4619	+0.020%	$135K	$174K	—
ApeX Omni ARUSDTlong	+0.0100%	1h	4.4610	long leg	$56K	$748K	50x
Extended AR-USD	+0.0104%	1h	4.4434	−0.394%	$36K	$237K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.4600	−0.022%	$419K	$666K	20x	as long as short