Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.014%

Price spread now: Polymarket Perps against BingX−0.060%51s7-day average +0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$320.324% of the position

Long on BingX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.297%−$30 on $10k

Price spread, last 3 days (all we have)+0.580%+$58 · spread now −0.060%, 7d avg +0.030%

Together, before fees+0.283%+$28 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Polymarket Perps is 0.090% cheaper against BingX than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.030%. The two prices were read 51 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	BingX VIRTUAL-USDT	0.7134	0.0100	pay 0.0050% / 4h	3h 02m	—	$8.2M	—
Short	Polymarket Perps VIRTUAL-USD	0.7130	0.0100	get 0.0013% / 1h	2m 37s	$33K	$787K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against BingX. 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 BingXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.060%Rate

Funding earned: $0
Price spread: −0.060% → +0.030%: −$9.01
Slippage, 4 orders: −$14.42
Fee BingX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$41.43
Costs to cover: 0.324%
Break-even: never at this rate

Slippage from BingX: live order book, 5 min ago; Polymarket Perps: live order book, 25 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 BingX live order book, 5 min ago	1.41 bp	8.5 bp −$9	11.5 bp −$115	22.0 bp −$2,203	80.6 bp −$40.3K
Sell Polymarket Perps live order book, 25 min ago	2.60 bp	7.1 bp −$7	7.2 bp −$72	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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7127	−0.101%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0128%	1h	0.7131	−0.042%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0079%	1h	0.7120	−0.198%	$11K	$45K	5x	as long as short
Lighter VIRTUAL	−0.0056%	1h	0.7133	−0.018%	$324K	$391K	5x	as long as short
Injective VIRTUAL/USDC PERP	−0.0043%	1h	0.7117	−0.238%	$46	$88K	5.5x	as long as short
Variational Omni VIRTUAL	−0.0038%	4h	0.7117	−0.243%	$518K	$872K	—	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0031%	1h	0.7127	−0.098%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7129	−0.063%	$12K	—	150x	as long as short
SoDEX VIRTUAL-USD	+0.0062%	1h	0.7123	−0.161%	$1K	$9K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0078%	4h	0.7126	−0.112%	$14K	$1.5M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VIRTUAL	+0.0100%	1h	0.7147	+0.186%	$8.8M	$3.7M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7140	+0.085%	$194K	$75K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7139	+0.067%	$74K	$41K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7132	−0.025%	$16.3M	$36.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7127	−0.098%	$15.4M	$15.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7129	−0.070%	$2.8M	$9.2M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7139	+0.070%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7136	+0.028%	$17.1M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7136	+0.028%	$3.0M	$4.0M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7141	+0.098%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDTlong	+0.0100%	4h	0.7134	long leg	—	$8.2M	—
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7131	−0.042%	$234K	$158K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7116	−0.252%	$19K	$256K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7118	−0.229%	$629K	$971K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7122	−0.168%	$40K	$242K	50x	as long as short
Polymarket Perps VIRTUAL-USDshort	+0.0100%	1h	0.7130	−0.060%	$33K	$787K	5x
SunX VIRTUAL-USDT	+0.0100%	4h	0.7122	−0.168%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7134	−0.006%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7124	−0.142%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0296% / S −0.0228%	1h	0.7129	−0.071%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7123	−0.154%	$811K	$801K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0456%	1h	0.7152	+0.252%	$195K	$104K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0618%	1h	0.7135	+0.012%	$519K	$519K	50x	as long as short