Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0244%/8h= −26.7% APRpaid last 24h −0.070%

Price spread now: 01 Exchange against BingX+0.085%7-day average — · you sell dearer than you buy

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

Long on BingX 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

The price spread pays, funding is against you. 01 Exchange is 0.085% dearer against BingX than usual: you sell high and buy low (spread +0.085% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 28 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX VIRTUAL-USDT	0.7049	0.0100	pay 0.0050% / 4h	2h 32m	—	$7.9M	—
Short	01 Exchange VIRTUALUSD	0.7055	−0.0144	pay 0.0018% / 1h	32m 26s	$2K	$106	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.085%Rate

Funding earned: −$51.24
Price spread: +0.085% → 0.000%: $8.51
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$59.73
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: BingX: 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 BingX live order book, 6 min ago	1.41 bp	9.2 bp −$9	11.1 bp −$111	24.2 bp −$2,420	81.9 bp −$41.0K
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	−0.0317%	1h	0.7047	−0.028%	$15K	$40K	10x	as long as short
01 Exchange VIRTUALUSDshort	−0.0144%	1h	0.7055	+0.085%	$2K	$106	10x
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7045	−0.054%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7072	+0.331%	$11K	$36K	5x	as long as short
Lighter VIRTUAL	−0.0048%	1h	0.7054	+0.064%	$321K	$402K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7050	+0.017%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	+0.965%	$46	$88K	5.5x	as long as short
Bybit VIRTUALUSDT	+0.0042%	4h	0.7043	−0.085%	$16.2M	$18.9M	50x	as long as short
SoDEX VIRTUAL-USD	+0.0072%	1h	0.7047	−0.021%	$1K	$9K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0075%	4h	0.7048	−0.014%	$14K	$1.4M	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	0.7060	+0.162%	$8.7M	$4.0M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7054	+0.070%	$91K	$299K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7059	+0.147%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7050	+0.020%	$15.9M	$41.7M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7046	−0.043%	$2.8M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7056	+0.099%	$1.5M	$3.4M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7054	+0.071%	$15.4M	$4.9M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7052	+0.043%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7053	+0.057%	$6.0M	$5.9M	25x	as long as short
BingX VIRTUAL-USDTlong	+0.0100%	4h	0.7049	long leg	—	$7.9M	—
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7054	+0.071%	$236K	$210K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7068	+0.275%	$529K	$910K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7089	+0.562%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7075	+0.370%	$625K	$1.0M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7093	+0.624%	$40K	$237K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7057	+0.109%	$52K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7054	+0.071%	$1K	$1.4M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7053	+0.058%	$56K	$302K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7044	−0.074%	$18K	—	3x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0283%	1h	0.7051	+0.033%	$521K	$763K	50x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0312% / S −0.0259%	1h	0.7049	+0.005%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7050	+0.014%	$783K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0432%	1h	0.7162	+1.603%	$199K	$104K	50x	as long as short