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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 +0.003%

Price spread now: Variational Omni against MEXC−0.220%7-day average −0.154% · you buy dearer than you sell

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

Long on MEXC Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.140%−$14 on $10k

Price spread, last 4 days (all we have)−0.210%−$21 · spread now −0.220%, 7d avg −0.154%

Together, before fees−0.350%+ Points / potential airdropVariational Omni: Active · farm board−$35 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 0.066% cheaper against MEXC than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.154%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC AR_USDT	4.4710	0.0100	pay 0.0100% / 8h	4h 21m	$6.4M	$4.2M	100x
Short	Variational Omni AR	4.4612	0.0100	get 0.0100% / 8h	4h 21m	$236K	$246K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against MEXC. 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 MEXCbpFee Variational OmnibpOrdersPrice spread, now −0.220%Rate

Funding earned: $0
Price spread: −0.220% → −0.154%: −$6.6
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$10.6
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 2 min ago; Variational Omni: RFQ quote, 38 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 MEXC live order book, 2 min ago	1.12 bp	3.1 bp −$3	18.8 bp −$188	213.0 bp −$21.3K	doesn't fit
Sell Variational Omni RFQ quote, 38 min ago	4.91 bp	doesn't fit	157.3 bp −$1,573	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
GMX AR/USD [WBTC.b-USDC]	L −0.0141% / S +0.0551%	1h	4.4739	+0.066%	$575K	—	50x	as long as short
OKX AR-USDT-SWAP	+0.0035%	8h	4.4690	−0.045%	$2.3M	$17.8M	20x	as long as short
Aster ARUSDT	+0.0100%	8h	4.4770	+0.135%	$26K	$478K	10x	as long as short
Binance ARUSDT	+0.0100%	8h	4.4700	−0.022%	$8.8M	$49.9M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.4690	−0.045%	$4.6M	$8.2M	75x	as long as short
Gate AR_USDT	+0.0100%	8h	4.4700	−0.022%	$2.5M	$1.9M	50x	as long as short
MEXC AR_USDTlong	+0.0100%	8h	4.4710	long leg	$6.4M	$4.2M	100x
KuCoin ARUSDTM	+0.0100%	8h	4.4690	−0.045%	$1.1M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.4670	−0.089%	$3.9M	$5.0M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.4710	0.000%	—	$2.8M	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ARshort	+0.0100%	8h	4.4612	−0.220%	$236K	$246K	—
ApeX Omni ARUSDT	+0.0100%	1h	4.4690	−0.045%	$19K	$721K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.4707	−0.006%	$36K	$236K	10x	as long as short
Hyperliquid AR	+0.0131%	1h	4.4779	+0.154%	$4.0M	$4.3M	5x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.4690	−0.045%	$423K	$468K	20x	as long as short
Kraken Futures PF_ARUSD	+0.0696%	1h	4.4644	−0.148%	$60K	$159K	20x	as long as short
Injective AR/USDC PERP	+0.0854%	1h	4.4770	+0.134%	$2K	$5K	5.5x	as long as short