Write SwiftUI.Run it live.Copy it out.

import SwiftUI

struct TwinOrbitLoader: View {
    var size: Double = 54
    var period: Double = 0.85
    var colorA: Color = .mint
    var colorB: Color = .cyan

    var body: some View {
        TimelineView(.animation) { context in
            let t = context.date.timeIntervalSinceReferenceDate
            let a = t * .pi * 2 / period

            ZStack {
                ball(angle: a, color: colorA)
                ball(angle: a + .pi, color: colorB)
            }
        }
        .frame(width: size, height: size)
    }

    func ball(angle: Double, color: Color) -> some View {
        let depth = sin(angle)
        Circle()
            .fill(color.gradient)
            .frame(width: size * 0.36, height: size * 0.36)
            .scaleEffect(0.78 + 0.22 * ((depth + 1) / 2))
            .offset(x: cos(angle) * size * 0.28, y: sin(angle) * size * 0.1)
            .zIndex(depth)
    }
}