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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0097%/8h= −10.6% APRpaid last 24h +0.854%

Price spread now: Variational Omni against GMX+17.395%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. Variational Omni is 17.395% dearer against GMX than usual: you sell high and buy low (spread +17.395% now, against zero (this spread has no 7-day history yet)): +$1,739 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 20 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BONK/USD [ETH-USDC]	0.000003000	L +0.0197% / S −0.4340%	pay 0.0025% / 1h	24m 12s	$587	—	100x
Short	Variational Omni 1000BONK	0.000003522	0.0100	get 0.0050% / 4h	3h 24m	$326K	$140K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against GMX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 GMXbpFee Variational OmnibpOrdersPrice spread, now +17.395%Rate

Funding earned: −$20.35
Price spread: +17.395% → 0.000%: $1,739.49
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $1,707.14
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Variational Omni: RFQ quote, 30 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 GMX no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 30 min ago	5.77 bp	doesn't fit	49.0 bp −$490	doesn't fit	doesn't fit

GMX: 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.

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	−0.0312%	1h	0.000003509	+16.967%	$44K	$39K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003511	+17.043%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003508	+16.920%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	+9.133%	$3K	$113	5.5x	as long as short
Orderly PERP_1000BONK_USDC	+0.0083%	4h	0.000003508	+16.933%	$30K	$54K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003511	+17.028%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003514	+17.150%	$38K	$108K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003513	+17.104%	$81K	$250K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003515	+17.167%	$118K	$107K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003511	+17.030%	$17.4M	$63.1M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003509	+16.967%	$11.4M	$19.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003513	+17.100%	$2.6M	$9.8M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003508	+16.933%	$877K	$2.8M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003510	+17.000%	$9.8M	$7.4M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003509	+16.967%	$3.0M	$10.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003510	+17.000%	$4.4M	$3.2M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003512	+17.067%	—	$4.8M	—	as long as short
Variational Omni 1000BONKshort	+0.0100%	4h	0.000003522	+17.395%	$326K	$140K	—
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003504	+16.800%	$59K	$706K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003516	+17.200%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003509	+16.967%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003517	+17.233%	$100K	$121K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003508	+16.934%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003509	+16.967%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0125%	4h	0.000003516	+17.200%	$991K	$16.6M	75x	as long as short
GMX BONK/USD [ETH-USDC]long	L +0.0197% / S −0.4340%	1h	0.000003000	long leg	$587	—	100x
Lighter 1000BONK	+0.0200%	1h	0.000003514	+17.133%	$246K	$692K	10x	as long as short
Hyperliquid kBONK	+0.0837%	1h	0.000003523	+17.433%	$10.4M	$5.0M	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0890%	1h	0.000003512	+17.067%	$6K	$123K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1410%	1h	0.000003518	+17.267%	$48K	$16K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2388%	1h	0.000003516	+17.197%	$224K	$178K	50x	as long as short