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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against KuCoin−0.471%7-day average −0.100% · you buy dearer than you sell

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

Long on KuCoin Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.046%−$5 on $10k

Price spread, last 4 days (all we have)+0.362%+$36 · spread now −0.471%, 7d avg −0.100%

Together, before fees+0.316%+ Points / potential airdropVariational Omni: Active · farm board+$32 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 0.371% cheaper against KuCoin than usual: you would sell low and buy high, −$37 on $10k if it goes back to its 7-day average of −0.100%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin 1000BONKUSDTM	0.000003506	0.0100	pay 0.0050% / 4h	2h 46m	$3.0M	$10.3M	75x
Short	Variational Omni 1000BONK	0.000003490	0.0100	get 0.0050% / 4h	2h 46m	$324K	$141K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against KuCoin. 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 KuCoinbpFee Variational OmnibpOrdersPrice spread, now −0.471%Rate

Funding earned: $0
Price spread: −0.471% → −0.100%: −$37.08
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$49.08
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 7 min ago; Variational Omni: RFQ quote, 2 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 KuCoin live order book, 7 min ago	1.43 bp	33.8 bp −$34	411.5 bp −$4,115	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	5.71 bp	doesn't fit	54.2 bp −$542	doesn't fit	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	−0.0136%	1h	0.000003511	+0.131%	$44K	$46K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003510	+0.103%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003513	+0.191%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.628%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0035%	1h	0.000003511	+0.131%	$9K	$134K	10x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003514	+0.229%	$4	—	15x	as long as short
Orderly PERP_1000BONK_USDC	+0.0090%	4h	0.000003509	+0.074%	$30K	$53K	20x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003515	+0.245%	$248K	$705K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003514	+0.217%	$59K	$299K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003511	+0.131%	$119K	$122K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003512	+0.160%	$17.8M	$70.1M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003508	+0.031%	$11.6M	$21.9M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003511	+0.131%	$2.7M	$11.3M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003509	+0.074%	$918K	$3.0M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003514	+0.217%	$9.9M	$8.0M	125x	as long as short
KuCoin 1000BONKUSDTMlong	+0.0100%	4h	0.000003506	long leg	$3.0M	$10.3M	75x
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003506	−0.011%	$4.5M	$3.8M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003507	+0.017%	—	$4.8M	—	as long as short
Variational Omni 1000BONKshort	+0.0100%	4h	0.000003490	−0.471%	$324K	$141K	—
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003487	−0.553%	$59K	$706K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003516	+0.288%	$42K	$114K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003518	+0.331%	$2K	$13K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003512	+0.160%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003512	+0.160%	$100K	$130K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003510	+0.104%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003503	−0.097%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0114%	4h	0.000003512	+0.160%	$1.0M	$17.5M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−14.442%	$388	—	100x	as long as short
Hyperliquid kBONK	+0.1658%	1h	0.000003519	+0.359%	$11.9M	$6.3M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1740%	1h	0.000003515	+0.245%	$46K	$17K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2642%	1h	0.000003520	+0.388%	$216K	$218K	50x	as long as short