Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.018%

Price spread now: Hyperliquid against ApeX Omni+0.671%105s7-day average +0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$500.497% of the position

Long on ApeX Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 3 days (all we have)−0.870%−$87 · spread now +0.671%, 7d avg +0.059%

Together, before fees−0.809%+ Points / potential airdropHyperliquid: Season 2 · farm board−$81 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: Hyperliquid is 0.612% dearer against ApeX Omni than usual: you sell high and buy low, +$61 on $10k if it goes back to its 7-day average of +0.059%. The two prices were read 105 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni VIRTUALUSDT	0.7105	0.0100	pay 0.0013% / 1h	41m 43s	$40K	$244K	50x
Short	Hyperliquid VIRTUAL	0.7153	0.0100	get 0.0013% / 1h	41m 43s	$8.7M	$3.6M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.671%Rate

Funding earned: $0
Price spread: +0.671% → +0.059%: $61.24
Slippage, 4 orders: −$30.73
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $11.51
Costs to cover: 0.497%
Break-even: from the start

Slippage from ApeX Omni: live order book, 44 min ago; Hyperliquid: live order book, 11 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, 44 min ago	7.02 bp	14.8 bp −$15	103.4 bp −$1,034	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 11 min ago	0.35 bp	11.3 bp −$11	doesn't fit	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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0310%	1h	0.7144	+0.549%	$15K	$40K	10x	as long as short
Injective VIRTUAL/USDC PERP	−0.0160%	1h	0.7117	+0.169%	$46	$88K	5.5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7141	+0.510%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7108	+0.045%	$11K	$45K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0072%	1h	0.7138	+0.464%	$2K	$131	10x	as long as short
Variational Omni VIRTUAL	−0.0011%	4h	0.7104	−0.021%	$518K	$872K	—	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7145	+0.562%	$12K	—	150x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0082%	4h	0.7141	+0.507%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7143	+0.532%	$325K	$391K	5x	as long as short
Hyperliquid VIRTUALshort	+0.0100%	1h	0.7153	+0.671%	$8.7M	$3.6M	5x

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7143	+0.541%	$194K	$80K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7145	+0.568%	$74K	$41K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7147	+0.591%	$16.4M	$36.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7148	+0.605%	$15.4M	$15.3M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7146	+0.577%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7141	+0.507%	$1.5M	$2.9M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7140	+0.493%	$17.2M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7143	+0.535%	$3.1M	$3.9M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7149	+0.619%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7140	+0.493%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7141	+0.507%	$235K	$158K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7104	−0.014%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7099	−0.084%	$629K	$974K	10x	as long as short
ApeX Omni VIRTUALUSDTlong	+0.0100%	1h	0.7105	long leg	$40K	$244K	50x
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7145	+0.560%	$33K	$783K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7142	+0.521%	$1K	$1.2M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7141	+0.502%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7137	+0.449%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7145	+0.561%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0297% / S −0.0228%	1h	0.7145	+0.560%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7115	+0.141%	$816K	$795K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7152	+0.662%	$195K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0527%	1h	0.7149	+0.616%	$524K	$530K	50x	as long as short