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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.012%

Price spread now: Variational Omni against Injective−2.559%7-day average — · you buy dearer than you sell

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

Long on Injective 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 airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 2.559% cheaper against Injective than usual: you would sell low and buy high (spread −2.559% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$256 on $10k: about 4 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective AR/USDC PERP	4.4240	0.0033	pay 0.0004% / 1h	48m 55s	$2K	$5K	5.5x
Short	Variational Omni AR	4.3108	0.0100	get 0.0100% / 8h	7h 48m	$246K	$513K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Injective. 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 InjectivebpFee Variational OmnibpOrdersPrice spread, now −2.559%Rate

Funding earned: $14
Price spread: −2.559% → 0.000%: −$255.9
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$241.92
Costs to cover: 0.000%
Break-even: 128.0 days

Slippage unknown: Injective: no order-book sample; Variational Omni: RFQ quote, 50 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 Injective no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 50 min ago	3.89 bp	doesn't fit	74.2 bp −$742	doesn't fit	doesn't fit

Injective: 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.

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	−0.1003%	1h	4.3047	−2.697%	$53K	$135K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0550%	1h	4.3157	−2.448%	$553K	—	50x	as long as short
Injective AR/USDC PERPlong	+0.0033%	1h	4.4240	long leg	$2K	$5K	5.5x
Hyperliquid AR	+0.0100%	1h	4.3210	−2.328%	$3.9M	$4.5M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.3207	−2.335%	$32K	$255K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.3211	−2.326%	$8.6M	$44.9M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.3220	−2.306%	$4.5M	$8.3M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.3190	−2.373%	$2.3M	$14.6M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.3170	−2.419%	$2.0M	$3.0M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.3200	−2.351%	$6.1M	$3.7M	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	4.3190	−2.373%	$1.1M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.3170	−2.419%	$3.7M	$4.9M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.3210	−2.328%	—	$2.7M	—	as long as short
Variational Omni ARshort	+0.0100%	8h	4.3108	−2.559%	$246K	$513K	—
ApeX Omni ARUSDT	+0.0100%	1h	4.2930	−2.961%	$20K	$707K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.3222	−2.301%	$36K	$244K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.3130	−2.509%	$417K	$447K	20x	as long as short