Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.002%

Price spread now: Bybit against ApeX Omni−0.151%7-day average −0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$550.551% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 4 days (all we have)−0.320%−$32 · spread now −0.151%, 7d avg −0.076%

Together, before fees−0.333%−$33 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.076% cheaper against ApeX Omni than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.076%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni VIRTUALUSDT	0.7261	0.0100	pay 0.0013% / 1h	19m 20s	$41K	$239K	50x
Short	Bybit VIRTUALUSDT	0.7250	0.0100	get 0.0050% / 4h	1h 19m	$16.8M	$18.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.151%Rate

Funding earned: $0
Price spread: −0.151% → −0.076%: −$7.59
Slippage, 4 orders: −$34.08
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$62.67
Costs to cover: 0.551%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 42 min ago; Bybit: live order book, 4 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, 42 min ago	6.94 bp	14.4 bp −$14	91.2 bp −$912	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	2.76 bp	12.9 bp −$13	28.2 bp −$282	155.9 bp −$15.6K	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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0302%	1h	0.7247	−0.193%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7248	−0.178%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0056%	1h	0.7247	−0.193%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	0.0000%	1h	0.7266	+0.074%	$11K	$37K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7252	−0.121%	$4K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.983%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7248	−0.179%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7247	−0.187%	$329K	$413K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7257	−0.059%	$8.9M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7254	−0.094%	$98K	$291K	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	0.7254	−0.095%	$71K	$42K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7251	−0.138%	$16.6M	$40.1M	75x	as long as short
Bybit VIRTUALUSDTshort	+0.0100%	4h	0.7250	−0.151%	$16.8M	$18.0M	50x
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7247	−0.193%	$2.9M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7250	−0.151%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7248	−0.179%	$17.8M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7252	−0.124%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7251	−0.138%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7252	−0.124%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7249	−0.165%	$239K	$203K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7256	−0.067%	$540K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7258	−0.039%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7254	−0.096%	$641K	$868K	10x	as long as short
ApeX Omni VIRTUALUSDTlong	+0.0100%	1h	0.7261	long leg	$41K	$239K	50x
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7254	−0.091%	$52K	$993K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7247	−0.193%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7245	−0.223%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7247	−0.187%	$54K	$270K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7244	−0.235%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0300% / S −0.0228%	1h	0.7252	−0.117%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7256	−0.069%	$814K	$853K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7273	+0.165%	$190K	$79K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0902%	1h	0.7257	−0.054%	$606K	$661K	50x	as long as short