Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.086%

Price spread now: Polymarket Perps against BloFin−0.193%105s7-day average +0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$104as 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−$390.394% of the position

Long on BloFin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.642%−$64 on $10k

Price spread, last 3 days (all we have)+0.382%+$38 · spread now −0.193%, 7d avg +0.018%

Together, before fees−0.260%−$26 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 Polymarket Perps is 0.212% cheaper against BloFin than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of +0.018%). Swap the legs. The two prices were read 105 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	0.7132	0.0340	pay 0.0170% / 4h	2h 57m	$811K	$812K	75x
Short	Polymarket Perps VIRTUAL-USD	0.7118	0.0100	get 0.0013% / 1h	57m 30s	$33K	$787K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.193%Rate

Funding earned: −$50.4
Price spread: −0.193% → +0.018%: −$21.16
Slippage, 4 orders: −$19.38
Fee BloFin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$110.94
Costs to cover: 0.394%
Break-even: never at this rate

Slippage from BloFin: live order book, 29 min ago; Polymarket Perps: live order book, 30 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, 29 min ago	4.91 bp	12.9 bp −$13	20.8 bp −$208	51.8 bp −$5,179	doesn't fit
Sell Polymarket Perps live order book, 30 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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0171%	1h	0.7114	−0.252%	$15K	$40K	10x	as long as short
Injective VIRTUAL/USDC PERP	−0.0160%	1h	0.7117	−0.210%	$46	$88K	5.5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7113	−0.265%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0120%	1h	0.7112	−0.280%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0079%	1h	0.7136	+0.055%	$11K	$45K	5x	as long as short
Variational Omni VIRTUAL	−0.0035%	4h	0.7138	+0.079%	$518K	$872K	—	as long as short
SoDEX VIRTUAL-USD	−0.0005%	1h	0.7112	−0.283%	$1K	$9K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7118	−0.199%	$12K	—	150x	as long as short
Lighter VIRTUAL	+0.0048%	1h	0.7110	−0.301%	$324K	$391K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0080%	4h	0.7116	−0.224%	$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	0.7122	−0.140%	$8.7M	$3.7M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7117	−0.216%	$193K	$76K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7115	−0.241%	$73K	$41K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7113	−0.266%	$16.3M	$36.8M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7113	−0.266%	$15.4M	$15.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7114	−0.252%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7115	−0.238%	$1.5M	$2.8M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7106	−0.365%	$17.0M	$4.0M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7114	−0.252%	$3.0M	$3.9M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7120	−0.168%	$6.1M	$5.2M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7110	−0.308%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7113	−0.266%	$234K	$157K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7133	+0.018%	$19K	$255K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7120	−0.171%	$635K	$982K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7139	+0.098%	$41K	$243K	50x	as long as short
Polymarket Perps VIRTUAL-USDshort	+0.0100%	1h	0.7118	−0.193%	$33K	$787K	5x
SunX VIRTUAL-USDT	+0.0100%	4h	0.7115	−0.238%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7110	−0.312%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7115	−0.235%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0296% / S −0.0228%	1h	0.7119	−0.186%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDTlong	+0.0340%	4h	0.7132	long leg	$811K	$812K	75x
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7152	+0.280%	$195K	$104K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0528%	1h	0.7125	−0.105%	$518K	$521K	50x	as long as short