Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.073%

Price spread now: ApeX Omni against BloFin0.000%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$510.505% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.399%−$40 on $10k

Price spread, last 3 days (all we have)+0.026%+$3 · spread now 0.000%, 7d avg +0.028%

Together, before fees−0.373%−$37 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and ApeX Omni is 0.028% cheaper against BloFin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.028%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin VIRTUAL-USDT	0.7281	0.0340	pay 0.0170% / 4h	6m 23s	$818K	$849K	75x
Short	ApeX Omni VIRTUALUSDT	0.7281	0.0100	get 0.0013% / 1h	6m 23s	$40K	$245K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now 0.000%Rate

Funding earned: −$50.4
Price spread: 0.000% → +0.028%: −$2.79
Slippage, 4 orders: −$28.5
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$103.69
Costs to cover: 0.505%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; ApeX Omni: live order book, 5 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 BloFin live order book, 5 min ago	1.38 bp	12.3 bp −$12	22.5 bp −$225	59.2 bp −$5,917	doesn't fit
Sell ApeX Omni live order book, 5 min ago	6.88 bp	14.2 bp −$14	98.4 bp −$984	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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0299%	1h	0.7277	−0.055%	$15K	$40K	10x	as long as short
01 Exchange VIRTUALUSD	−0.0168%	1h	0.7278	−0.041%	$2K	$131	10x	as long as short
Lighter VIRTUAL	−0.0144%	1h	0.7274	−0.093%	$330K	$416K	5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7274	−0.100%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0066%	1h	0.7288	+0.102%	$11K	$40K	5x	as long as short
SoDEX VIRTUAL-USD	0.0000%	1h	0.7277	−0.062%	$1K	$9K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7279	−0.032%	$8K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.252%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7276	−0.069%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7282	+0.013%	$200K	$104K	20x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7283	+0.026%	$72K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7276	−0.071%	$16.5M	$38.9M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7275	−0.082%	$16.2M	$16.7M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7272	−0.124%	$2.9M	$9.5M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7281	0.000%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7281	0.000%	$18.3M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7283	+0.027%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7284	+0.041%	$6.3M	$5.5M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7278	−0.041%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7283	+0.027%	$247K	$168K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7273	−0.116%	$541K	$890K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7282	+0.007%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7295	+0.192%	$648K	$915K	10x	as long as short
ApeX Omni VIRTUALUSDTshort	+0.0100%	1h	0.7281	0.000%	$40K	$245K	50x
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7284	+0.034%	$37K	$993K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7278	−0.041%	$2K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7273	−0.109%	$54K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7275	−0.078%	$18K	$505	3x	as long as short
Hyperliquid VIRTUAL	+0.0119%	1h	0.7292	+0.157%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7278	−0.045%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDTlong	+0.0340%	4h	0.7281	long leg	$818K	$849K	75x
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7311	+0.412%	$199K	$94K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0864%	1h	0.7293	+0.171%	$597K	$583K	50x	as long as short