Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0390%/8h= −42.7% APRpaid last 24h −0.079%

Price spread now: SoDEX against BloFin−0.007%7-day average — · you buy dearer than you sell

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

Long on BloFin Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$12 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin VIRTUAL-USDT	0.7141	0.0340	pay 0.0170% / 4h	3h 08m	$792K	$947K	75x
Short	SoDEX VIRTUAL-USD	0.7140	−0.0050	pay 0.0006% / 1h	8m 34s	$1K	$9K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.007%Rate

Funding earned: −$81.92
Price spread: −0.007% → 0.000%: −$0.7
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$102.62
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 23 min ago; SoDEX: 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, 23 min ago	4.17 bp	10.4 bp −$10	15.4 bp −$154	62.8 bp −$6,279	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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	−0.0589%	1h	0.7146	+0.070%	$15K	$40K	10x	as long as short
Lighter VIRTUAL	−0.0224%	1h	0.7144	+0.038%	$325K	$407K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0160%	1h	0.7144	+0.042%	$2K	$106	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7150	+0.119%	$24	—	10x	as long as short
SoDEX VIRTUAL-USDshort	−0.0050%	1h	0.7140	−0.007%	$1K	$9K	5x
Phoenix VIRTUAL	−0.0022%	1h	0.7175	+0.479%	$11K	$37K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7149	+0.119%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.336%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0083%	4h	0.7147	+0.084%	$14K	$1.4M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7161	+0.277%	$8.8M	$4.1M	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	0.7152	+0.158%	$93K	$299K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7151	+0.146%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7147	+0.086%	$16.2M	$41.1M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7147	+0.084%	$16.5M	$18.6M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7151	+0.140%	$2.8M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7147	+0.084%	$1.5M	$3.4M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7148	+0.098%	$16.0M	$4.8M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7148	+0.098%	$3.0M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7150	+0.126%	$6.1M	$5.9M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7147	+0.084%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7148	+0.098%	$237K	$213K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7155	+0.199%	$536K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7173	+0.453%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7173	+0.449%	$637K	$974K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7181	+0.560%	$40K	$238K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7151	+0.143%	$53K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7153	+0.168%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7146	+0.076%	$54K	$258K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7142	+0.009%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0315% / S −0.0264%	1h	0.7147	+0.086%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDTlong	+0.0340%	4h	0.7141	long leg	$792K	$947K	75x
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7200	+0.826%	$201K	$104K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0489%	1h	0.7152	+0.156%	$586K	$670K	50x	as long as short