VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0260%/8h= −28.4% APRnext payment −$1.30 per $10,000 · paid last 24h −0.083%

Price spread now: Orderly against BloFin−0.042%52s7-day average −0.010% · you buy dearer than you sell

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

Long on BloFin Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.577%−$58 on $10k

Price spread, last 3 days (all we have)+0.027%+$3 · spread now −0.042%, 7d avg −0.010%

Together, before fees−0.550%−$55 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Orderly is 0.032% cheaper against BloFin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.010%). Swap the legs. The two prices were read 52 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	0.7115	0.0340	pay 0.0170% / 4h	2h 55m	$812K	$809K	75x
Short	Orderly PERP_VIRTUAL_USDC	0.7112	0.0080	get 0.0040% / 4h	2h 55m	$14K	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.042%Rate

Funding earned: −$54.52
Price spread: −0.042% → −0.010%: −$3.17
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$75.68
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 30 min ago; Orderly: 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 BloFin live order book, 30 min ago	4.91 bp	12.9 bp −$13	20.8 bp −$208	51.8 bp −$5,179	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
Injective VIRTUAL/USDC PERP	−0.0160%	1h	0.7117	+0.028%	$46	$88K	5.5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7110	−0.068%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0112%	1h	0.7106	−0.126%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0079%	1h	0.7136	+0.294%	$11K	$45K	5x	as long as short
Variational Omni VIRTUAL	−0.0035%	4h	0.7138	+0.318%	$518K	$872K	—	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7114	−0.014%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7113	−0.025%	$12K	—	150x	as long as short
Lighter VIRTUAL	+0.0064%	1h	0.7112	−0.044%	$324K	$391K	5x	as long as short
Orderly PERP_VIRTUAL_USDCshort	+0.0080%	4h	0.7112	−0.042%	$14K	$1.5M	10x
Hyperliquid VIRTUAL	+0.0100%	1h	0.7124	+0.128%	$8.7M	$3.7M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7119	+0.050%	$193K	$76K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7122	+0.094%	$73K	$41K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7119	+0.056%	$16.3M	$36.7M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7115	0.000%	$15.4M	$15.4M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7116	+0.014%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7117	+0.028%	$1.5M	$2.8M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7116	+0.014%	$17.0M	$4.0M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7119	+0.056%	$3.1M	$4.0M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7123	+0.112%	$6.1M	$5.2M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7117	+0.028%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7119	+0.056%	$234K	$154K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7133	+0.257%	$19K	$255K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7120	+0.068%	$635K	$982K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7139	+0.337%	$41K	$243K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7114	−0.014%	$33K	$782K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7112	−0.042%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7114	−0.017%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7116	+0.017%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7115	−0.004%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0296% / S −0.0228%	1h	0.7114	−0.015%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDTlong	+0.0340%	4h	0.7115	long leg	$812K	$809K	75x
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7152	+0.520%	$195K	$104K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0529%	1h	0.7123	+0.107%	$518K	$516K	50x	as long as short