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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 Bybit−0.299%7-day average −0.041% · you buy dearer than you sell

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.006%+$1 on $10k

Price spread, last 4 days (all we have)+0.255%+$25 · spread now −0.299%, 7d avg −0.041%

Together, before fees+0.261%+ Points / potential airdropVariational Omni: Active · farm board+$26 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 0.258% cheaper against Bybit than usual: you would sell low and buy high, −$26 on $10k if it goes back to its 7-day average of −0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit 1000BONKUSDT	0.000003619	0.0100	pay 0.0050% / 4h	1h 54m	$12.3M	$23.6M	50x
Short	Variational Omni 1000BONK	0.000003608	0.0100	get 0.0050% / 4h	1h 54m	$335K	$142K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now −0.299%Rate

Funding earned: $0
Price spread: −0.299% → −0.041%: −$25.8
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$36.8
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 4 min ago; Variational Omni: RFQ quote, 54 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 Bybit live order book, 4 min ago	1.37 bp	15.5 bp −$15	36.2 bp −$362	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 54 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	−0.0016%	1h	0.000003606	−0.351%	$44K	$52K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003616	−0.064%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003624	+0.155%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−9.526%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003630	+0.324%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003631	+0.340%	$52K	$119K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003620	+0.038%	$61K	$301K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003616	−0.075%	$121K	$133K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003624	+0.146%	$18.6M	$76.5M	75x	as long as short
Bybit 1000BONKUSDTlong	+0.0100%	4h	0.000003619	long leg	$12.3M	$23.6M	50x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003620	+0.036%	$3.0M	$12.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003623	+0.119%	$999K	$3.2M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003623	+0.119%	$11.0M	$8.5M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003622	+0.094%	$2.9M	$10.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003619	+0.008%	$4.6M	$4.3M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003621	+0.064%	—	$6.5M	—	as long as short
Variational Omni 1000BONKshort	+0.0100%	4h	0.000003608	−0.299%	$335K	$142K	—
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003622	+0.091%	$31K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003633	+0.395%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003630	+0.312%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003633	+0.395%	$103K	$131K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003621	+0.052%	$24K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003621	+0.064%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0157%	4h	0.000003632	+0.368%	$1.1M	$18.9M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−17.097%	$399	—	100x	as long as short
Lighter 1000BONK	+0.0576%	1h	0.000003632	+0.368%	$253K	$738K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0853%	1h	0.000003629	+0.285%	$20K	$155K	10x	as long as short
ApeX Omni 1000BONKUSDT	+0.0866%	1h	0.000003639	+0.561%	$61K	$706K	25x	as long as short
Hyperliquid kBONK	+0.1332%	1h	0.000003633	+0.395%	$12.0M	$7.3M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.2124%	1h	0.000003635	+0.450%	$58K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2963%	1h	0.000003644	+0.687%	$224K	$219K	50x	as long as short