Depending on the kwality of your extensions and the amount of torque you're putting through them, you will lose torque in winding them up. Just like how torsion bars in a truck work. A shitty universal will lose torque in it also. The good ones (that use 3 ball bearings, like a CV joint) lose less. This is assuming you're working with a static load (fastener not moving, versus a kinetic load where it would be). If you're measuring when it's moving (dealing with kinetic friction after overcoming static friction) then there is no loss but I doubt you're doing that as it would be pointless.
When I worked at Michigan Tech I had access to some sweet labs including the Keweenaw Research Center. One of the many hillbilly things I did is experiment with things like that. It made it easier for this dumb EE to deal with Statics and Fluids classes (for smert MEs) when I could do things hands-on.