VOL. XCIV, NO. 247

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Friday, December 26, 2025

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Tool Comparison

MesoSim vs Unusual Whales comparison

Compare pricing, supported platforms, categories, and standout capabilities to decide which tool fits your workflow.

Quick takeaways

MesoSim adds Backtesting, Data Visualizations, AI, and AI Chat coverage that Unusual Whales skips.

Unusual Whales includes Screeners, Portfolio, Dark Pool & Off-Exchange, Alerts, News, US Government Trades, Insider Data, 13F, Data APIs, Education, Calendar, and Dividends categories that MesoSim omits.

Unusual Whales offers mobile access, which MesoSim skips.

In depth comparison

MesoSim

mesosim.io

Options strategy backtesting SaaS with low-code strategy definitions, observability (events log), risk graphs/Greeks, margin reporting, an options valuation model/solver, and an implied-volatility surface viewer. Plan gating: Free includes 25 runs; Standard ($1000/yr) unlocks unlimited SPX + BTCUSD/ETHUSD options backtests plus sharing/exports and 1 MesoLive paper-trading account; Advanced ($1250/yr) adds RUT/VIX/GLD, margin models, vol surface/HD risk graphs, and hourly risk traces (plus up to 2 paper accounts). Live trade execution is a paid MesoLive add-on; API access is FundPro-only.

Platforms

WebAPI

Pricing

FreeSubscription

Quick highlights

Advanced options strategy backtesting service built around a low-code workflow.
Strategy Definition schema supports multi-leg structures plus entry/exit/adjustments and simulator controls (fill model, commissions/slippage, margin, position monitoring).
TradFi instruments documented for simulation: SPX (data from 2010), RUT/VIX (data from 2012), and GLD (data from 2012), with index vs equity option modeling notes.
Published data availability + vendors and resolution (5-minute): SPX/RUT/VIX/GLD sourced from Cboe Global Markets; BTCUSD/ETHUSD (and historical SOLUSD) sourced from Deribit.
Position Monitor provides 2D/3D risk graphs, PnL, and Greeks, with trace collection intervals (Off/Daily/Hourly).

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Unusual Whales

unusualwhales.com

Editor’s pick Hands-on review

Real-time options flow and dark-pool analytics built for active traders. Free plans view delayed data; paid tiers stream live flow, with annual plans unlocking data downloads. The public API is sold separately, and “Periscope” (market-wide SPX exposure) is available as an add-on.

Platforms

WebMobileAPI

Pricing

FreeSubscription

Quick highlights

Live options flow across all US options exchanges, with a status indicator so you know the feed is healthy.
Dark-pool tape plus ‘Dark Pool Levels’ to surface recent prints and ticker-specific liquidity zones.
Options and stock screeners with filters for premium, volume, open interest, IV rank, and common technicals.
Options Profit Calculator to model multi-leg strategies, Greeks, and payoff P/L.
Paper trading for both stocks and options to test ideas without risk.

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Where they differ

MesoSim

Distinct strengths include:

Backtesting Data Visualizations AI AI Chat

Advanced options strategy backtesting service built around a low-code workflow.
Strategy Definition schema supports multi-leg structures plus entry/exit/adjustments and simulator controls (fill model, commissions/slippage, margin, position monitoring).
TradFi instruments documented for simulation: SPX (data from 2010), RUT/VIX (data from 2012), and GLD (data from 2012), with index vs equity option modeling notes.
Published data availability + vendors and resolution (5-minute): SPX/RUT/VIX/GLD sourced from Cboe Global Markets; BTCUSD/ETHUSD (and historical SOLUSD) sourced from Deribit.

Unusual Whales

Distinct strengths include:

Screeners Portfolio Dark Pool & Off-Exchange Alerts News US Government Trades Insider Data 13F

Live options flow across all US options exchanges, with a status indicator so you know the feed is healthy.
Dark-pool tape plus ‘Dark Pool Levels’ to surface recent prints and ticker-specific liquidity zones.
Options and stock screeners with filters for premium, volume, open interest, IV rank, and common technicals.
Options Profit Calculator to model multi-leg strategies, Greeks, and payoff P/L.

Feature-by-feature breakdown

Attribute	MesoSim	Unusual Whales
Categories Which research workflows each platform targets	Shared: Options & Derivatives, Paper Trading, APIs & SDKs Unique: Backtesting, Data Visualizations, AI, AI Chat	Shared: Options & Derivatives, Paper Trading, APIs & SDKs Unique: Screeners, Portfolio, Dark Pool & Off-Exchange, Alerts, News, US Government Trades, Insider Data, 13F, Data APIs, Education, Calendar, Dividends
Asset types Supported asset classes and universes	Options, Cryptos	Stocks, ETFs, Options
Experience levels Who each product is built for	Intermediate, Advanced	Beginner, Intermediate, Advanced
Platforms Where you can access the product	Web, API	Web, Mobile, API
Pricing High-level pricing models	Free, Subscription	Free, Subscription
Key features Core capabilities called out by each vendor	Unique Advanced options strategy backtesting service built around a low-code workflow. Strategy Definition schema supports multi-leg structures plus entry/exit/adjustments and simulator controls (fill model, commissions/slippage, margin, position monitoring). TradFi instruments documented for simulation: SPX (data from 2010), RUT/VIX (data from 2012), and GLD (data from 2012), with index vs equity option modeling notes. Published data availability + vendors and resolution (5-minute): SPX/RUT/VIX/GLD sourced from Cboe Global Markets; BTCUSD/ETHUSD (and historical SOLUSD) sourced from Deribit. Position Monitor provides 2D/3D risk graphs, PnL, and Greeks, with trace collection intervals (Off/Daily/Hourly). Volatility Surface viewer to explore implied-vol surfaces with overlays (e.g., open interest, volume, bid-ask spread, Greeks) and playback at 5-minute resolution (non-crypto in current version).	Unique Live options flow across all US options exchanges, with a status indicator so you know the feed is healthy. Dark-pool tape plus ‘Dark Pool Levels’ to surface recent prints and ticker-specific liquidity zones. Options and stock screeners with filters for premium, volume, open interest, IV rank, and common technicals. Options Profit Calculator to model multi-leg strategies, Greeks, and payoff P/L. Paper trading for both stocks and options to test ideas without risk. Portfolio Manager with broker linking for IBKR, tastytrade, Fidelity, and Robinhood.
Tested Verified by hands-on testing inside Find My Moat	Not yet	Yes
Editor pick Featured inside curated shortlists	Standard listing	Highlighted

Frequently Asked Questions

Which workflows do MesoSim and Unusual Whales both support?

Both platforms cover Options & Derivatives, Paper Trading, and APIs & SDKs workflows, so you can research those use cases in either tool before digging into the feature differences below.

Do MesoSim and Unusual Whales require subscriptions?

Both MesoSim and Unusual Whales keep freemium access with optional paid upgrades, so you can trial each platform before committing.

Which tool has mobile access?

Unusual Whales ships a dedicated mobile experience, while MesoSim focuses on web or desktop access.

What unique strengths set the two platforms apart?

MesoSim differentiates itself with Advanced options strategy backtesting service built around a low-code workflow., Strategy Definition schema supports multi-leg structures plus entry/exit/adjustments and simulator controls (fill model, commissions/slippage, margin, position monitoring)., and TradFi instruments documented for simulation: SPX (data from 2010), RUT/VIX (data from 2012), and GLD (data from 2012), with index vs equity option modeling notes., whereas Unusual Whales stands out for Live options flow across all US options exchanges, with a status indicator so you know the feed is healthy., Dark-pool tape plus ‘Dark Pool Levels’ to surface recent prints and ticker-specific liquidity zones., and Options and stock screeners with filters for premium, volume, open interest, IV rank, and common technicals..

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