Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.002%

Price spread now: Bybit against Binance−0.020%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$440.441% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 7 days+0.026%+$3 · spread now −0.020%, 7d avg −0.014%

Together, before fees+0.013%+$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance VIRTUALUSDT	0.7145	0.0100	pay 0.0050% / 4h	32m 18s	$16.2M	$40.6M	75x
Short	Bybit VIRTUALUSDT	0.7144	0.0100	get 0.0050% / 4h	32m 18s	$16.4M	$18.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. 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 BinancebpFee BybitbpOrdersPrice spread, now −0.020%Rate

Funding earned: $0
Price spread: −0.020% → −0.014%: −$0.63
Slippage, 4 orders: −$23.09
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$44.73
Costs to cover: 0.441%
Break-even: never at this rate

Slippage from Binance: live order book, 10 min ago; Bybit: live order book, 1 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 Binance live order book, 10 min ago	0.70 bp	9.1 bp −$9	20.7 bp −$207	101.8 bp −$10.2K	doesn't fit
Sell Bybit live order book, 1 min ago	0.70 bp	9.5 bp −$10	25.3 bp −$253	145.6 bp −$14.6K	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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7143	−0.033%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0112%	1h	0.7142	−0.048%	$2K	$131	10x	as long as short
Lighter VIRTUAL	−0.0104%	1h	0.7141	−0.058%	$325K	$415K	5x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7103	−0.591%	$11K	$37K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7145	−0.003%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.398%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0088%	4h	0.7145	−0.006%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7154	+0.114%	$8.7M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7147	+0.021%	$96K	$292K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7146	+0.011%	$70K	$43K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VIRTUALUSDTlong	+0.0100%	4h	0.7145	long leg	$16.2M	$40.6M	75x
Bybit VIRTUALUSDTshort	+0.0100%	4h	0.7144	−0.020%	$16.4M	$18.5M	50x
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7145	−0.006%	$2.8M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7145	−0.006%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7145	−0.006%	$17.4M	$4.4M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7145	−0.006%	$2.9M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7148	+0.036%	$6.1M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7144	−0.020%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7146	+0.008%	$239K	$210K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7078	−0.947%	$529K	$913K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7096	−0.688%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7103	−0.601%	$631K	$879K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7103	−0.594%	$40K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7147	+0.023%	$54K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7149	+0.050%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7147	+0.022%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7145	−0.011%	$55K	$267K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7143	−0.028%	$18K	—	3x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	+0.0170%	1h	0.7148	+0.036%	$15K	$40K	10x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0315% / S −0.0265%	1h	0.7145	−0.005%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7137	−0.118%	$798K	$893K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0416%	1h	0.7157	+0.162%	$200K	$105K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0802%	1h	0.7150	+0.066%	$592K	$667K	50x	as long as short