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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Variational Omni−0.055%7-day average +0.045% · you buy dearer than you sell

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.006%−$1 on $10k

Price spread, last 3 days (all we have)+0.133%+$13 · spread now −0.055%, 7d avg +0.045%

Together, before fees+0.127%+ Points / potential airdropVariational Omni: Active · farm board+$13 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: Bybit is 0.100% cheaper against Variational Omni than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni 1000BONK	0.000003406	0.0100	pay 0.0050% / 4h	3h 06m	$312K	$125K	—
Short	Bybit 1000BONKUSDT	0.000003404	0.0100	get 0.0050% / 4h	3h 06m	$10.7M	$17.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. 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 Variational OmnibpFee BybitbpOrdersPrice spread, now −0.055%Rate

Funding earned: $0
Price spread: −0.055% → +0.045%: −$9.97
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$20.97
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Bybit: live order book, 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 Variational Omni RFQ quote, 3 min ago	5.85 bp	doesn't fit	52.6 bp −$526	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	1.46 bp	12.9 bp −$13	36.4 bp −$364	197.5 bp −$19.8K	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	−0.0376%	1h	0.000003371	−1.024%	$43K	$25K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003416	+0.297%	$1.0M	$14.7M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0035%	4h	0.000003403	−0.084%	$29K	$39K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003417	+0.336%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003406	+0.010%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.872%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003407	+0.044%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003409	+0.107%	$19K	$99K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003409	+0.102%	$65K	$253K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003414	+0.239%	$113K	$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	0.000003408	+0.058%	$15.8M	$53.7M	75x	as long as short
Bybit 1000BONKUSDTshort	+0.0100%	4h	0.000003404	−0.055%	$10.7M	$17.3M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003409	+0.092%	$2.5M	$8.0M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003406	+0.004%	$728K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003407	+0.033%	$10.0M	$6.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003407	+0.027%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003406	+0.004%	$4.3M	$3.0M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003405	−0.026%	—	$6.5M	—	as long as short
Variational Omni 1000BONKlong	+0.0100%	4h	0.000003406	long leg	$312K	$125K	—
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003424	+0.532%	$58K	$708K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003416	+0.297%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003408	+0.063%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003439	+0.973%	$95K	$156K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003407	+0.023%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003403	−0.084%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.917%	$569	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0337%	1h	0.000003407	+0.033%	$2K	$110K	10x	as long as short
Lighter 1000BONK	+0.0376%	1h	0.000003413	+0.209%	$354K	$475K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0407%	1h	0.000003410	+0.121%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0597%	1h	0.000003413	+0.209%	$9.7M	$7.3M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1457%	1h	0.000003420	+0.420%	$213K	$165K	50x	as long as short