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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 −0.004%

Price spread now: Variational Omni against Extended−0.029%7-day average −0.127% · 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)−0.148%−$15 on $10k

Price spread, last 4 days (all we have)−0.454%−$45 · spread now −0.029%, 7d avg −0.127%

Together, before fees−0.602%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board−$60 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 0.099% dearer against Extended than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.127%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended AR-USD	4.1975	0.0104	pay 0.0013% / 1h	15m 34s	$36K	$248K	10x
Short	Variational Omni AR	4.1963	0.0100	get 0.0100% / 8h	2h 15m	$235K	$626K	—

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 −0.029%Rate

Funding earned: −$0.84
Price spread: −0.029% → −0.127%: $9.85
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: $4.01
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Extended: live order book, 31 min ago; Variational Omni: RFQ quote, 33 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, 31 min ago	6.67 bp	31.3 bp −$31	247.5 bp −$2,475	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 33 min ago	7.28 bp	doesn't fit	122.6 bp −$1,226	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	−0.0920%	1h	4.1870	−0.252%	$52K	$183K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0550%	1h	4.2000	+0.059%	$540K	—	50x	as long as short
Hyperliquid AR	+0.0100%	1h	4.2021	+0.109%	$3.4M	$4.9M	5x	as long as short
Aster ARUSDT	+0.0100%	8h	4.2025	+0.118%	$41K	$464K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.2027	+0.123%	$8.3M	$52.6M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.1988	+0.030%	$4.1M	$9.3M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.2040	+0.154%	$2.2M	$17.1M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.1970	−0.012%	$2.0M	$3.5M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.1970	−0.012%	$5.8M	$4.3M	100x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.1960	−0.036%	$1.1M	$1.3M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ARUSDT	+0.0100%	8h	4.2010	+0.083%	$3.7M	$5.5M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.1970	−0.012%	—	$2.8M	—	as long as short
Variational Omni ARshort	+0.0100%	8h	4.1963	−0.029%	$235K	$626K	—
ApeX Omni ARUSDT	+0.0100%	1h	4.1730	−0.584%	$20K	$716K	50x	as long as short
Extended AR-USDlong	+0.0104%	1h	4.1975	long leg	$36K	$248K	10x
BloFin AR-USDT	+0.0220%	8h	4.1730	−0.584%	$404K	$454K	20x	as long as short
Injective AR/USDC PERP	+0.0666%	1h	4.4240	+5.396%	$2K	$5K	5.5x	as long as short