Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0260%/8h= −28.4% APRpaid last 24h −0.022%

Price spread now: Injective against Aster−1.020%47s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aster Short on Injective

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Injective is 1.020% cheaper against Aster than usual: you would sell low and buy high (−$102 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 47 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	Aster VIRTUALUSDT	0.7190	0.0100	pay 0.0050% / 4h	2h 18m	$195K	$82K	20x
Short	Injective VIRTUAL/USDC PERP	0.7117	−0.0160	pay 0.0020% / 1h	18m 25s	$46	$88K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −1.020%Rate

Funding earned: −$54.55
Price spread: −1.020% → 0.000%: −$102.04
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$164.61
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 3 min ago; Injective: no order-book sample. Net counts fees only.

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, 3 min ago	7.64 bp	25.6 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Injective VIRTUAL/USDC PERPshort	−0.0160%	1h	0.7117	−1.020%	$46	$88K	5.5x
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7187	−0.050%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7196	+0.078%	$11K	$45K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0096%	1h	0.7188	−0.033%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7195	+0.064%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7193	+0.039%	$13K	—	150x	as long as short
Variational Omni VIRTUAL	+0.0068%	4h	0.7193	+0.038%	$528K	$878K	—	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0083%	4h	0.7192	+0.023%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0088%	1h	0.7186	−0.062%	$327K	$391K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7197	+0.089%	$8.7M	$3.7M	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	0.7190	long leg	$195K	$82K	20x
Pacifica VIRTUAL	+0.0100%	1h	0.7191	+0.004%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7188	−0.030%	$16.4M	$37.1M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7184	−0.089%	$15.6M	$15.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7186	−0.061%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7191	+0.009%	$1.5M	$2.9M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7189	−0.019%	$17.2M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7193	+0.037%	$3.1M	$3.9M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7193	+0.037%	$6.2M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7188	−0.033%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7197	+0.092%	$236K	$159K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7195	+0.064%	$19K	$256K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7182	−0.116%	$636K	$974K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7195	+0.064%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7192	+0.020%	$30K	$810K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7193	+0.037%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7191	+0.016%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7186	−0.064%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7191	+0.008%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0298% / S −0.0228%	1h	0.7193	+0.037%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7194	+0.050%	$816K	$804K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7203	+0.176%	$196K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0523%	1h	0.7202	+0.165%	$538K	$543K	50x	as long as short