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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.018%

Price spread now: Variational Omni against Pacifica−0.118%7-day average +0.019% · you buy dearer than you sell

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

Long on Pacifica Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.019%−$2 on $10k

Price spread, last 4 days (all we have)+0.827%+$83 · spread now −0.118%, 7d avg +0.019%

Together, before fees+0.808%+ Points / potential airdropPacifica: Active · Variational Omni: Active · farm board+$81 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 0.137% cheaper against Pacifica than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica NEAR	4.3569	0.0100	pay 0.0013% / 1h	57m 15s	$411K	$1.2M	10x
Short	Variational Omni NEAR	4.3517	0.0100	get 0.0100% / 8h	5h 57m	$8.4M	$18.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Pacifica. 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 PacificabpFee Variational OmnibpOrdersPrice spread, now −0.118%Rate

Funding earned: $0
Price spread: −0.118% → +0.019%: −$13.73
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$21.73
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 2 min ago; Variational Omni: RFQ quote, 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 Pacifica live order book, 2 min ago	2.52 bp	15.1 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	3.85 bp	doesn't fit	6.4 bp −$64	28.6 bp −$2,862	doesn't fit

NEAR on 44 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
Reya NEARRUSDPERP	−0.0171%	1h	4.3576	+0.016%	$2K	—	20x	as long as short
Coinbase International NEAR-PERP-INTX	−0.0016%	1h	4.3550	−0.043%	$2.2M	$14.1M	50x	as long as short
dYdX NEAR-USD	0.0000%	1h	4.3547	−0.051%	$107K	$70K	10x	as long as short
Kalshi KXNEARPERP	0.0000%	8h	4.3662	+0.214%	$556K	$19.3M	2.2x	as long as short
gTrade (Gains Network) NEAR/USD	L +0.0004% / S −0.0004%	1h	4.3692	+0.284%	$197K	—	150x	as long as short
Injective NEAR/USDC PERP	+0.0033%	1h	4.1410	−4.955%	$578	$302K	12x	as long as short
Popdex NEARUSDT	+0.0096%	1h	4.3570	+0.003%	$115K	$488K	50x	as long as short
Pacifica NEARlong	+0.0100%	1h	4.3569	long leg	$411K	$1.2M	10x
Binance NEARUSDT	+0.0100%	8h	4.3651	+0.188%	$264.8M	$1.08B	75x	as long as short
Bybit NEARUSDT	+0.0100%	8h	4.3654	+0.196%	$220.2M	$416.8M	75x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NEAR-USDT-SWAP	+0.0100%	8h	4.3630	+0.141%	$62.0M	$288.2M	50x	as long as short
Bulk NEAR-USD	+0.0100%	1h	4.3555	−0.031%	$248K	−$0	10x	as long as short
Gate NEAR_USDT	+0.0100%	8h	4.3648	+0.182%	$31.5M	$61.5M	75x	as long as short
MEXC NEAR_USDT	+0.0100%	8h	4.3670	+0.232%	$75.9M	$139.3M	200x	as long as short
KuCoin NEARUSDTM	+0.0100%	8h	4.3650	+0.187%	$53.9M	$43.8M	75x	as long as short
Bitget NEARUSDT	+0.0100%	8h	4.3632	+0.145%	$71.7M	$126.0M	75x	as long as short
BingX NEAR-USDC	+0.0100%	8h	4.3640	+0.164%	—	$6.6M	—	as long as short
Variational Omni NEARshort	+0.0100%	8h	4.3517	−0.118%	$8.4M	$18.3M	—
edgeX NEARUSDC	+0.0100%	4h	4.3545	−0.055%	$269K	$1.0M	20x	as long as short
GRVT NEAR_USDT_Perp	+0.0100%	8h	4.3589	+0.048%	$1.4M	$1.4M	10x	as long as short
ApeX Omni NEARUSDT	+0.0100%	1h	4.3630	+0.141%	$194K	$777K	50x	as long as short
Polymarket Perps NEAR-USD	+0.0100%	1h	4.3641	+0.166%	$202K	$3.6M	10x	as long as short
Orderly PERP_NEAR_USDC	+0.0100%	8h	4.3716	+0.338%	$60K	$190K	20x	as long as short
SunX NEAR-USDT	+0.0100%	8h	4.3750	+0.416%	$2K	$1.4M	20x	as long as short
SoDEX NEAR-USD	+0.0100%	1h	4.3650	+0.187%	$5K	$51K	10x	as long as short
HTX NEAR-USDT	+0.0100%	8h	4.3670	+0.232%	$456K	$3.9M	75x	as long as short
Phemex NEARUSDT	+0.0100%	8h	4.3650	+0.187%	$3.8M	$8.2M	50x	as long as short
Paradex NEAR-USD-PERP	+0.0101%	8h	4.3503	−0.151%	$31K	$608	10x	as long as short
Extended NEAR-USD	+0.0104%	1h	4.3660	+0.209%	$3.8M	$18.6M	25x	as long as short
Aevo NEAR-PERP	+0.0104%	1h	4.3685	+0.267%	$203K	$34K	3x	as long as short
Aster NEARUSDT	+0.0184%	8h	4.3649	+0.185%	$3.0M	$5.5M	50x	as long as short
GMX NEAR/USD [ETH-USDC]	L +0.0347% / S −0.0243%	1h	4.3679	+0.254%	$255K	—	100x	as long as short
Deribit NEAR_USDC-PERPETUAL	+0.0391%	1h	4.3727	+0.363%	$1.9M	$4.3M	25x	as long as short
01 Exchange NEARUSD	+0.0408%	1h	4.3604	+0.081%	$13K	$7K	10x	as long as short
Arcus NEAR-USD	+0.0410%	1h	4.3560	−0.020%	$207K	$1.7M	10x	as long as short
Nado NEAR-PERP	+0.0463%	1h	4.3580	+0.026%	$1.9M	$3.1M	10x	as long as short
Backpack NEAR_USDC_PERP	+0.0538%	1h	4.3687	+0.271%	$1.5M	$6.3M	20x	as long as short
Phoenix NEAR	+0.0592%	1h	4.3584	+0.035%	$1.8M	$2.5M	10x	as long as short
Kraken Futures PF_NEARUSD	+0.0706%	1h	4.3669	+0.230%	$8.2M	$41.1M	50x	as long as short
Hyperliquid NEAR	+0.0785%	1h	4.3700	+0.301%	$367.9M	$306.3M	10x	as long as short
Lighter RH NEAR	+0.0864%	1h	4.3714	+0.333%	$1.6M	$6.9M	10x	as long as short
RISEx NEAR/USDC	+0.0924%	1h	4.3566	−0.007%	$549K	$1.3M	10x	as long as short
Lighter NEAR	+0.1344%	1h	4.3723	+0.354%	$17.5M	$25.5M	15x	as long as short
Aftermath Perps NEARUSD	+0.1701%	1h	4.3682	+0.259%	$5K	$12K	10x	as long as short