Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.070%

Price spread now: 01 Exchange against Binance−0.370%7-day average — · you buy dearer than you sell

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

Long on Binance Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and 01 Exchange is 0.370% cheaper against Binance than usual: you would sell low and buy high (−$37 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance VIRTUALUSDT	0.7152	0.0100	pay 0.0050% / 4h	1h 50m	$16.1M	$42.3M	75x
Short	01 Exchange VIRTUALUSD	0.7126	−0.0120	pay 0.0015% / 1h	50m 52s	$2K	$106	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.370%Rate

Funding earned: −$46.2
Price spread: −0.370% → 0.000%: −$36.95
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$100.15
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 6 min ago; 01 Exchange: 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, 6 min ago	0.70 bp	8.5 bp −$8	23.8 bp −$238	107.7 bp −$10.8K	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0170%	1h	0.7138	−0.202%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7135	−0.238%	$24	—	10x	as long as short
01 Exchange VIRTUALUSDshort	−0.0120%	1h	0.7126	−0.370%	$2K	$106	10x
Phoenix VIRTUAL	−0.0101%	1h	0.7135	−0.244%	$11K	$36K	5x	as long as short
Lighter VIRTUAL	−0.0056%	1h	0.7140	−0.167%	$324K	$400K	5x	as long as short
Bybit VIRTUALUSDT	−0.0053%	4h	0.7144	−0.118%	$16.2M	$19.0M	50x	as long as short
SoDEX VIRTUAL-USD	−0.0051%	1h	0.7141	−0.153%	$1K	$9K	5x	as long as short
Kraken Futures PF_VIRTUALUSD	−0.0005%	1h	0.7145	−0.099%	$524K	$758K	50x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7142	−0.143%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.495%	$46	$88K	5.5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni VIRTUAL	+0.0050%	4h	0.7137	−0.211%	$530K	$914K	—	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0073%	4h	0.7137	−0.216%	$15K	$1.6M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7164	+0.155%	$8.8M	$4.0M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7153	+0.006%	$92K	$302K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7131	−0.298%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDTlong	+0.0100%	4h	0.7152	long leg	$16.1M	$42.3M	75x
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7151	−0.020%	$2.9M	$10.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7150	−0.034%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7150	−0.034%	$16.1M	$5.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7147	−0.076%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7151	−0.020%	$6.0M	$5.9M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7148	−0.062%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7148	−0.062%	$237K	$176K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7130	−0.308%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7138	−0.208%	$641K	$1.1M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7135	−0.244%	$40K	$237K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7137	−0.219%	$51K	$1.0M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7128	−0.342%	$2K	$1.4M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7148	−0.057%	$55K	$304K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7138	−0.206%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0312% / S −0.0258%	1h	0.7144	−0.117%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7146	−0.090%	$789K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7192	+0.553%	$200K	$102K	50x	as long as short