VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1593%/8h= +174.4% APRnext payment +$1.99 per $10,000 · paid last 24h +0.073%

Price spread now: Coinbase International against ApeX Omni+0.914%7-day average +0.230% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$1291.294% of the position

Long on ApeX Omni Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.419%+$42 on $10k

Price spread, last 3 days (all we have)−0.626%−$63 · spread now +0.914%, 7d avg +0.230%

Together, before fees−0.207%−$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$48 a day on $10k at the current rate, and Coinbase International is 0.683% dearer against ApeX Omni than usual: you sell high and buy low: +$68 more if the spread goes back to its 7-day average of +0.230%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.419% in total (about 21.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.99 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni VIRTUALUSDT	0.7222	−0.1153	get 0.0144% / 1h	55m 11s	$41K	$244K	50x
Short	Coinbase International VIRTUAL-PERP-INTX	0.7288	0.0440	get 0.0055% / 1h	55m 11s	$198K	$93K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.914%Rate

Funding earned: $334.52
Price spread: +0.914% → +0.230%: $68.34
Slippage, 4 orders: −$109.37
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $273.5
Costs to cover: 1.294%
Break-even: 1.3 days

Slippage from ApeX Omni: live order book, 11 min ago; Coinbase International: live order book, 13 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, 11 min ago	5.43 bp	15.0 bp −$15	81.5 bp −$815	doesn't fit	doesn't fit
Sell Coinbase International live order book, 13 min ago	6.75 bp	48.5 bp −$49	1007.2 bp −$10.1K	doesn't fit	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
ApeX Omni VIRTUALUSDTlong	−0.1153%	1h	0.7222	long leg	$41K	$244K	50x
Deribit VIRTUAL_USDC-PERPETUAL	−0.0306%	1h	0.7184	−0.526%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7181	−0.562%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0112%	1h	0.7182	−0.554%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0109%	1h	0.7204	−0.255%	$11K	$46K	5x	as long as short
Lighter VIRTUAL	−0.0048%	1h	0.7181	−0.572%	$326K	$413K	5x	as long as short
SoDEX VIRTUAL-USD	−0.0031%	1h	0.7183	−0.540%	$1K	$9K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7186	−0.493%	$4K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.454%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7184	−0.526%	$14K	$1.5M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VIRTUAL	+0.0100%	1h	0.7191	−0.425%	$8.9M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7186	−0.502%	$170K	$194K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7196	−0.358%	$71K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7186	−0.495%	$16.5M	$40.9M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7185	−0.512%	$16.2M	$17.7M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7184	−0.526%	$2.8M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7186	−0.498%	$1.4M	$3.1M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7186	−0.498%	$17.3M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7188	−0.471%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7181	−0.568%	$6.2M	$5.9M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7185	−0.512%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7193	−0.402%	$249K	$174K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7183	−0.535%	$526K	$898K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7225	+0.048%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7205	−0.229%	$641K	$877K	10x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7187	−0.479%	$51K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7182	−0.554%	$2K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7182	−0.553%	$54K	$272K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7182	−0.555%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7188	−0.476%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7190	−0.443%	$833K	$849K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTXshort	+0.0440%	1h	0.7288	+0.914%	$198K	$93K	50x
Kraken Futures PF_VIRTUALUSD	+0.1026%	1h	0.7196	−0.358%	$594K	$660K	50x	as long as short