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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.005%

Price spread now: Variational Omni against Extended−0.825%7-day average −0.126% · 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)−0.149%−$15 on $10k

Price spread, last 4 days (all we have)+0.361%+$36 · spread now −0.825%, 7d avg −0.126%

Together, before fees+0.212%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board+$21 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 0.699% cheaper against Extended than usual: you would sell low and buy high, −$70 on $10k if it goes back to its 7-day average of −0.126%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended AR-USD	4.2922	0.0104	pay 0.0013% / 1h	31m 02s	$36K	$239K	10x
Short	Variational Omni AR	4.2568	0.0100	get 0.0100% / 8h	1h 31m	$245K	$588K	—

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 −0.825%Rate

Funding earned: −$0.84
Price spread: −0.825% → −0.126%: −$69.89
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: −$75.73
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 11 min ago; Variational Omni: RFQ quote, 13 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 Extended live order book, 11 min ago	7.19 bp	29.5 bp −$30	211.8 bp −$2,118	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 13 min ago	5.09 bp	doesn't fit	95.9 bp −$959	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	−0.2628%	1h	4.2953	+0.074%	$53K	$183K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0550%	1h	4.2944	+0.053%	$551K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.4240	+3.071%	$2K	$5K	5.5x	as long as short
Hyperliquid AR	+0.0100%	1h	4.2932	+0.024%	$3.7M	$4.9M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.2908	−0.032%	$42K	$443K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.2866	−0.129%	$8.6M	$50.8M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.2904	−0.041%	$4.3M	$9.1M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.2830	−0.214%	$2.2M	$16.8M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.2840	−0.190%	$2.0M	$3.4M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.2890	−0.074%	$6.2M	$4.3M	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	4.2860	−0.144%	$1.1M	$1.3M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.2870	−0.120%	$3.7M	$5.3M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.2880	−0.097%	—	$2.8M	—	as long as short
Variational Omni ARshort	+0.0100%	8h	4.2568	−0.825%	$245K	$588K	—
ApeX Omni ARUSDT	+0.0100%	1h	4.2850	−0.167%	$21K	$712K	50x	as long as short
Extended AR-USDlong	+0.0104%	1h	4.2922	long leg	$36K	$239K	10x
BloFin AR-USDT	+0.0220%	8h	4.2970	+0.113%	$411K	$451K	20x	as long as short