Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0316%/8h= +34.6% APRpaid last 24h +0.077%

Price spread now: Coinbase International against Aster+0.647%7-day average +0.228% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$145as in the Price arb table

costs, in and out, $10k−$1871.873% of the position

Long on Aster Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.321%+$32 on $10k

Price spread, last 4 days (all we have)−0.787%−$79 · spread now +0.647%, 7d avg +0.228%

Together, before fees−0.465%+ Points / potential airdropAster: Stage 5 · farm board−$47 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Coinbase International is 0.419% dearer against Aster than usual: you sell high and buy low: +$42 more if the spread goes back to its 7-day average of +0.228%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster VIRTUALUSDT	0.7133	0.0100	pay 0.0050% / 4h	57m 35s	$97K	$291K	20x
Short	Coinbase International VIRTUAL-PERP-INTX	0.7179	0.0416	get 0.0052% / 1h	57m 35s	$207K	$98K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Aster. 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 AsterbpFee Coinbase InternationalbpOrdersPrice spread, now +0.647%Rate

Funding earned: $66.36
Price spread: +0.647% → +0.228%: $41.9
Slippage, 4 orders: −$169.28
Fee Aster: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$79.02
Costs to cover: 1.873%
Break-even: 15.3 days

Slippage from Aster: live order book, 64 min ago; Coinbase International: live order book, 65 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 Aster live order book, 64 min ago	8.33 bp	18.4 bp −$18	142.4 bp −$1,424	doesn't fit	doesn't fit
Sell Coinbase International live order book, 65 min ago	6.93 bp	108.2 bp −$108	847.9 bp −$8,479	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	−0.0449%	1h	0.7146	+0.184%	$15K	$40K	10x	as long as short
Lighter VIRTUAL	−0.0296%	1h	0.7126	−0.103%	$324K	$412K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0144%	1h	0.7126	−0.096%	$2K	$131	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7148	+0.211%	$24	—	10x	as long as short
Phoenix VIRTUAL	0.0000%	1h	0.7155	+0.304%	$11K	$34K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7150	+0.235%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.222%	$46	$88K	5.5x	as long as short
SoDEX VIRTUAL-USD	+0.0065%	1h	0.7146	+0.180%	$1K	$9K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7145	+0.170%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7139	+0.089%	$8.8M	$4.1M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDTlong	+0.0100%	4h	0.7133	long leg	$97K	$291K	20x
Pacifica VIRTUAL	+0.0100%	1h	0.7128	−0.066%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7127	−0.085%	$16.3M	$40.4M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7130	−0.040%	$16.5M	$18.1M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7133	+0.002%	$2.8M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7129	−0.054%	$1.5M	$3.2M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7126	−0.096%	$17.5M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7132	−0.012%	$3.0M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7125	−0.110%	$6.1M	$5.9M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7124	−0.124%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7143	+0.142%	$237K	$206K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7157	+0.339%	$533K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7155	+0.305%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7165	+0.457%	$639K	$867K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7159	+0.367%	$40K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7157	+0.334%	$51K	$984K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7148	+0.213%	$2K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7121	−0.171%	$53K	$265K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7157	+0.338%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0298% / S −0.0228%	1h	0.7149	+0.226%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7159	+0.367%	$816K	$894K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTXshort	+0.0416%	1h	0.7179	+0.647%	$207K	$98K	50x
Kraken Futures PF_VIRTUALUSD	+0.0802%	1h	0.7154	+0.297%	$595K	$665K	50x	as long as short