Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h −0.012%

Price spread now: Orderly against Aevo+0.042%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Orderly is 0.042% dearer against Aevo than usual: you sell high and buy low (spread +0.042% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo VIRTUAL-PERP	0.7228	0.0104	pay 0.0013% / 1h	0m 06s	$18K	$505	3x
Short	Orderly PERP_VIRTUAL_USDC	0.7231	0.0092	get 0.0046% / 4h	1h 00m	$14K	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Aevo. 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 AevobpFee OrderlybpOrdersPrice spread, now +0.042%Rate

Funding earned: −$2.44
Price spread: +0.042% → 0.000%: $4.19
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$20.25
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Orderly: no order-book sample. 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 Aevo no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Aevo and Orderly: 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.

VIRTUAL on 33 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 VIRTUALRUSDPERP	−0.0139%	1h	0.7229	+0.011%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0128%	1h	0.7229	+0.014%	$2K	$131	10x	as long as short
Lighter VIRTUAL	−0.0120%	1h	0.7225	−0.036%	$329K	$414K	5x	as long as short
Phoenix VIRTUAL	−0.0045%	1h	0.7221	−0.099%	$11K	$40K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7233	+0.070%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7231	+0.038%	$13K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.535%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDCshort	+0.0092%	4h	0.7231	+0.042%	$14K	$1.5M	10x
Hyperliquid VIRTUAL	+0.0100%	1h	0.7242	+0.193%	$8.8M	$3.8M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7233	+0.066%	$190K	$91K	20x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7231	+0.044%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7231	+0.043%	$16.4M	$37.8M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7228	0.000%	$15.8M	$16.0M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7228	0.000%	$2.8M	$9.3M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7231	+0.042%	$1.5M	$2.9M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7232	+0.056%	$17.6M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7232	+0.056%	$4.4M	$4.1M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7235	+0.097%	$6.2M	$5.4M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7230	+0.028%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7235	+0.097%	$240K	$159K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7215	−0.186%	$528K	$876K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7216	−0.167%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7210	−0.249%	$638K	$918K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7221	−0.096%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7236	+0.108%	$34K	$896K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7230	+0.028%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7230	+0.035%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7228	+0.001%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERPlong	+0.0104%	1h	0.7228	long leg	$18K	$505	3x
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7232	+0.061%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7220	−0.110%	$807K	$812K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7234	+0.083%	$197K	$96K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0506%	1h	0.7245	+0.229%	$589K	$596K	50x	as long as short