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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.204%

Price spread now: Variational Omni against dYdX−0.548%7-day average — · you buy dearer than you sell

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

Long on dYdX 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

Funding pays, the price is against you. Variational Omni is 0.548% cheaper against dYdX than usual: you would sell low and buy high (spread −0.548% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$55 on $10k: about 18 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX RENDER-USD	1.8403	0	get 0.0000% / 1h	29m 38s	$19K	$21K	5x
Short	Variational Omni RENDER	1.8302	0.0100	get 0.0050% / 4h	2h 29m	$225K	$279K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against dYdX. 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 dYdXbpFee Variational OmnibpOrdersPrice spread, now −0.548%Rate

Funding earned: $21
Price spread: −0.548% → 0.000%: −$54.79
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$43.79
Costs to cover: 0.100%
Break-even: 21.6 days

Slippage unknown: dYdX: no order-book sample; Variational Omni: RFQ quote, 39 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 dYdX no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 39 min ago	5.40 bp	doesn't fit	42.2 bp −$422	doesn't fit	doesn't fit

dYdX: 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.

RENDER on 21 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
Injective RENDER/USDC PERP	−0.0344%	1h	1.8340	−0.342%	$6K	$188K	12x	as long as short
dYdX RENDER-USDlong	0.0000%	1h	1.8403	long leg	$19K	$21K	5x
Aster RENDERUSDT	+0.0100%	4h	1.8411	+0.042%	$266K	$142K	20x	as long as short
Binance RENDERUSDT	+0.0100%	4h	1.8383	−0.107%	$12.1M	$46.1M	75x	as long as short
Bybit RENDERUSDT	+0.0100%	4h	1.8369	−0.185%	$11.8M	$13.0M	50x	as long as short
OKX RENDER-USDT-SWAP	+0.0100%	4h	1.8380	−0.125%	$3.1M	$8.1M	20x	as long as short
Gate RENDER_USDT	+0.0100%	4h	1.8410	+0.038%	$562K	$1.1M	50x	as long as short
MEXC RENDER_USDT	+0.0100%	4h	1.8380	−0.125%	$11.0M	$10.9M	200x	as long as short
KuCoin RENDERUSDTM	+0.0100%	4h	1.8410	+0.038%	$4.9M	$12.1M	50x	as long as short
Bitget RENDERUSDT	+0.0100%	4h	1.8392	−0.060%	$9.9M	$10.6M	50x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX RENDER-USDT	+0.0100%	4h	1.8390	−0.071%	—	$3.9M	—	as long as short
Variational Omni RENDERshort	+0.0100%	4h	1.8302	−0.548%	$225K	$279K	—
ApeX Omni RENDERUSDT	+0.0100%	1h	1.8337	−0.359%	$46K	$261K	50x	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8410	+0.038%	$1.8M	$3.9M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8405	+0.012%	$28K	$197K	10x	as long as short
Coinbase International RENDER-PERP-INTX	+0.0168%	1h	1.8340	−0.342%	$150K	$60K	50x	as long as short
Phoenix RENDER	+0.0217%	1h	1.8295	−0.587%	$46K	$297K	5x	as long as short
Deribit RENDER_USDC-PERPETUAL	+0.0239%	1h	1.8405	+0.011%	$10K	$30K	25x	as long as short
GMX RENDER/USD [ETH-USDC]	L +0.0364% / S −0.0912%	1h	1.8390	−0.072%	$15K	—	100x	as long as short
Kraken Futures PF_RENDERUSD	+0.0668%	1h	1.8438	+0.188%	$470K	$1.1M	50x	as long as short
Hyperliquid RENDER	+0.0835%	1h	1.8439	+0.197%	$4.2M	$3.4M	5x	as long as short