Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.072%

Price spread now: BloFin against ApeX Omni+0.617%7-day average −0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs+$15as in the Price arb table

costs, in and out, $10k−$510.505% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.405%+$40 on $10k

Price spread, last 4 days (all we have)−0.730%−$73 · spread now +0.617%, 7d avg −0.043%

Together, before fees−0.326%−$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.660% dearer against ApeX Omni than usual: you sell high and buy low: +$66 more if the spread goes back to its 7-day average of −0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni VIRTUALUSDT	0.7131	0.0100	pay 0.0013% / 1h	28m 49s	$40K	$239K	50x
Short	BloFin VIRTUAL-USDT	0.7175	0.0340	get 0.0170% / 4h	28m 49s	$794K	$898K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against ApeX Omni. 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 ApeX OmnibpFee BloFinbpOrdersPrice spread, now +0.617%Rate

Funding earned: $50.4
Price spread: +0.617% → −0.043%: $65.97
Slippage, 4 orders: −$28.52
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $65.85
Costs to cover: 0.505%
Break-even: from the start

Slippage from ApeX Omni: live order book, 28 min ago; BloFin: live order book, 8 min ago.

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 ApeX Omni live order book, 28 min ago	6.27 bp	15.0 bp −$15	111.4 bp −$1,114	doesn't fit	doesn't fit
Sell BloFin live order book, 8 min ago	0.70 bp	9.5 bp −$9	15.6 bp −$156	44.0 bp −$4,402	doesn't fit

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	0.7176	+0.636%	$24	—	10x	as long as short
Lighter VIRTUAL	−0.0128%	1h	0.7164	+0.461%	$326K	$415K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0104%	1h	0.7171	+0.561%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7165	+0.471%	$11K	$37K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7175	+0.617%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7175	+0.620%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.196%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7175	+0.617%	$14K	$1.4M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7170	+0.543%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7170	+0.548%	$96K	$292K	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	0.7182	+0.715%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7155	+0.337%	$16.2M	$40.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7155	+0.337%	$16.4M	$18.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7156	+0.351%	$2.8M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7161	+0.421%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7159	+0.393%	$17.4M	$4.4M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7162	+0.435%	$2.9M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7161	+0.421%	$6.1M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7159	+0.393%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7167	+0.505%	$239K	$209K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7158	+0.375%	$535K	$913K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7157	+0.370%	$19K	$262K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7166	+0.491%	$637K	$879K	10x	as long as short
ApeX Omni VIRTUALUSDTlong	+0.0100%	1h	0.7131	long leg	$40K	$239K	50x
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7180	+0.684%	$54K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7174	+0.603%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7175	+0.614%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7153	+0.304%	$54K	$270K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7176	+0.630%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0316% / S −0.0265%	1h	0.7175	+0.618%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDTshort	+0.0340%	4h	0.7175	+0.617%	$794K	$898K	75x
Coinbase International VIRTUAL-PERP-INTX	+0.0416%	1h	0.7184	+0.743%	$201K	$105K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0799%	1h	0.7183	+0.724%	$594K	$664K	50x	as long as short