Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.013%

Price spread now: Polymarket Perps against ApeX Omni+0.199%63s7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as 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−$450.448% of the position

Long on ApeX Omni Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.235%−$23 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now +0.199%, 7d avg −0.010%

Together, before fees−0.195%−$19 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: Polymarket Perps is 0.209% dearer against ApeX Omni than usual: you sell high and buy low, +$21 on $10k if it goes back to its 7-day average of −0.010%. The two prices were read 63 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	0.7138	0.0100	pay 0.0013% / 1h	14m 32s	$40K	$235K	50x
Short	Polymarket Perps VIRTUAL-USD	0.7152	0.0100	get 0.0013% / 1h	14m 32s	$45K	$1.1M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.199%Rate

Funding earned: $0
Price spread: +0.199% → −0.010%: $20.92
Slippage, 4 orders: −$26.82
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$23.9
Costs to cover: 0.448%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 22 min ago; Polymarket Perps: live order book, 3 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, 22 min ago	7.02 bp	13.7 bp −$14	101.7 bp −$1,017	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	2.94 bp	6.9 bp −$7	7.1 bp −$71	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
Kraken Futures PF_VIRTUALUSD	−0.0336%	1h	0.7148	+0.141%	$519K	$741K	50x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7140	+0.032%	$24	—	10x	as long as short
Variational Omni VIRTUAL	−0.0084%	4h	0.7138	+0.006%	$535K	$837K	—	as long as short
Phoenix VIRTUAL	−0.0067%	1h	0.7137	−0.013%	$11K	$36K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0040%	1h	0.7286	+2.073%	$2K	$106	10x	as long as short
Lighter VIRTUAL	−0.0024%	1h	0.7151	+0.182%	$323K	$403K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7145	+0.098%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0006%	1h	0.7144	+0.090%	$22K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.294%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0073%	4h	0.7145	+0.098%	$16K	$1.8M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit VIRTUALUSDT	+0.0087%	4h	0.7148	+0.140%	$16.3M	$18.8M	50x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7154	+0.224%	$93K	$302K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7155	+0.238%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7153	+0.213%	$16.1M	$42.0M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7154	+0.224%	$2.9M	$10.0M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7152	+0.196%	$1.5M	$3.4M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7152	+0.196%	$15.6M	$5.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7154	+0.224%	$3.2M	$4.5M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7154	+0.224%	$6.0M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7149	+0.154%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7150	+0.168%	$237K	$175K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7134	−0.054%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7132	−0.084%	$635K	$1.1M	10x	as long as short
ApeX Omni VIRTUALUSDTlong	+0.0100%	1h	0.7138	long leg	$40K	$235K	50x
Polymarket Perps VIRTUAL-USDshort	+0.0100%	1h	0.7152	+0.199%	$45K	$1.1M	5x
SunX VIRTUAL-USDT	+0.0100%	4h	0.7144	+0.084%	$2K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7145	+0.091%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7148	+0.134%	$53K	$304K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7144	+0.088%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0313% / S −0.0258%	1h	0.7144	+0.091%	$32K	—	100x	as long as short
Hyperliquid VIRTUAL	+0.0326%	1h	0.7164	+0.361%	$8.8M	$3.8M	5x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7139	+0.014%	$783K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0480%	1h	0.7170	+0.448%	$200K	$100K	50x	as long as short