VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0009%/8h= −1.0% APRnext payment −$0.05 per $10,000 · paid last 24h −0.009%

Price spread now: Orderly against Binance+0.264%59s7-day average −0.003% · you sell dearer than you buy

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

Long on Binance Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.168%−$17 on $10k

Price spread, last 3 days (all we have)−0.277%−$28 · spread now +0.264%, 7d avg −0.003%

Together, before fees−0.445%−$44 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Orderly is 0.266% dearer against Binance than usual: you sell high and buy low (spread +0.264% now, against its 7-day average of −0.003%): +$27 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 3 months. At the pace of the last 7 days (−0.168% in total) that is about 11 days. The two prices were read 59 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	Binance VIRTUALUSDT	0.7201	0.0100	pay 0.0050% / 4h	2h 33m	$16.5M	$41.5M	75x
Short	Orderly PERP_VIRTUAL_USDC	0.7220	0.0091	get 0.0045% / 4h	2h 33m	$14K	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.264%Rate

Funding earned: −$1.95
Price spread: +0.264% → −0.003%: $26.64
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $8.69
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Binance: live order book, 8 min ago; Orderly: 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 Binance live order book, 8 min ago	0.69 bp	11.4 bp −$11	25.1 bp −$251	108.2 bp −$10.8K	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 32 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	0.7193	−0.112%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0080%	1h	0.7192	−0.125%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0027%	1h	0.7220	+0.264%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7202	+0.015%	$4K	—	150x	as long as short
Phoenix VIRTUAL	+0.0011%	1h	0.7219	+0.251%	$11K	$46K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.167%	$46	$88K	5.5x	as long as short
Lighter VIRTUAL	+0.0088%	1h	0.7197	−0.060%	$327K	$414K	5x	as long as short
Orderly PERP_VIRTUAL_USDCshort	+0.0091%	4h	0.7220	+0.264%	$14K	$1.5M	10x
Hyperliquid VIRTUAL	+0.0100%	1h	0.7205	+0.050%	$8.8M	$4.2M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7197	−0.050%	$171K	$296K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7199	−0.023%	$71K	$45K	5x	as long as short
Binance VIRTUALUSDTlong	+0.0100%	4h	0.7201	long leg	$16.5M	$41.5M	75x
Bybit VIRTUALUSDT	+0.0100%	4h	0.7194	−0.097%	$16.4M	$18.2M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7196	−0.069%	$2.9M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7194	−0.097%	$1.4M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7194	−0.097%	$17.4M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7199	−0.028%	$4.2M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7195	−0.083%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7197	−0.056%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7229	+0.389%	$244K	$175K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7202	+0.012%	$535K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7195	−0.080%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7203	+0.028%	$639K	$888K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7203	+0.028%	$41K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7202	+0.011%	$54K	$1.2M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7218	+0.236%	$2K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7218	+0.233%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7185	−0.217%	$56K	$275K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7218	+0.236%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7201	−0.001%	$30K	—	100x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7232	+0.430%	$196K	$93K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.1021%	1h	0.7231	+0.414%	$597K	$666K	50x	as long as short