VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0240%/8h= −26.3% APRnext payment −$1.20 per $10,000 · paid last 24h −0.074%

Price spread now: Bybit against BloFin−0.124%112s7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as 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−$430.433% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.430%−$43 on $10k

Price spread, last 3 days (all we have)+0.188%+$19 · spread now −0.124%, 7d avg −0.028%

Together, before fees−0.242%−$24 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 Bybit is 0.095% cheaper against BloFin than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.028%). Swap the legs. The two prices were read 112 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	BloFin VIRTUAL-USDT	0.7279	0.0340	pay 0.0170% / 4h	11m 19s	$816K	$848K	75x
Short	Bybit VIRTUALUSDT	0.7270	0.0100	get 0.0050% / 4h	11m 19s	$16.2M	$16.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.124%Rate

Funding earned: −$50.4
Price spread: −0.124% → −0.028%: −$9.52
Slippage, 4 orders: −$20.31
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$103.23
Costs to cover: 0.433%
Break-even: never at this rate

Slippage from BloFin: live order book, 1 min ago; Bybit: live order book, 2 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, 1 min ago	1.38 bp	12.3 bp −$12	22.5 bp −$225	59.2 bp −$5,917	doesn't fit
Sell Bybit live order book, 2 min ago	0.69 bp	11.0 bp −$11	23.4 bp −$234	135.7 bp −$13.6K	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
01 Exchange VIRTUALUSD	−0.0168%	1h	0.7264	−0.206%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0162%	1h	0.7273	−0.082%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7266	−0.179%	$24	—	10x	as long as short
Lighter VIRTUAL	−0.0112%	1h	0.7274	−0.071%	$330K	$416K	5x	as long as short
Phoenix VIRTUAL	−0.0066%	1h	0.7293	+0.195%	$11K	$40K	5x	as long as short
SoDEX VIRTUAL-USD	−0.0017%	1h	0.7269	−0.137%	$1K	$9K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7274	−0.065%	$8K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.226%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7270	−0.124%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7274	−0.075%	$200K	$102K	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	0.7284	+0.067%	$72K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7268	−0.150%	$16.5M	$38.9M	75x	as long as short
Bybit VIRTUALUSDTshort	+0.0100%	4h	0.7270	−0.124%	$16.2M	$16.7M	50x
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7269	−0.137%	$2.9M	$9.5M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7271	−0.110%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7266	−0.179%	$18.2M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7273	−0.082%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7277	−0.027%	$6.3M	$5.5M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7270	−0.124%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7284	+0.069%	$247K	$168K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7266	−0.179%	$543K	$888K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7274	−0.071%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7271	−0.112%	$646K	$915K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7273	−0.082%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7272	−0.099%	$37K	$993K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7272	−0.096%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7267	−0.170%	$54K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7269	−0.134%	$18K	$505	3x	as long as short
Hyperliquid VIRTUAL	+0.0112%	1h	0.7280	+0.011%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7273	−0.078%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDTlong	+0.0340%	4h	0.7279	long leg	$816K	$848K	75x
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7311	+0.440%	$199K	$94K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0865%	1h	0.7285	+0.081%	$595K	$581K	50x	as long as short