Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.002%

Price spread now: ApeX Omni against Bybit+0.446%7-day average +0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$500.501% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.029%+$3 on $10k

Price spread, last 3 days (all we have)−0.244%−$24 · spread now +0.446%, 7d avg +0.067%

Together, before fees−0.214%−$21 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.378% dearer against Bybit than usual: you sell high and buy low, +$38 on $10k if it goes back to its 7-day average of +0.067%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit VIRTUALUSDT	0.7179	0.0100	pay 0.0050% / 4h	1h 17m	$15.5M	$15.8M	50x
Short	ApeX Omni VIRTUALUSDT	0.7211	0.0100	get 0.0013% / 1h	17m 10s	$40K	$245K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now +0.446%Rate

Funding earned: $0
Price spread: +0.446% → +0.067%: $37.83
Slippage, 4 orders: −$29.12
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$12.29
Costs to cover: 0.501%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; ApeX Omni: live order book, 64 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 Bybit live order book, 1 min ago	0.70 bp	9.8 bp −$10	23.9 bp −$239	234.9 bp −$23.5K	doesn't fit
Sell ApeX Omni live order book, 64 min ago	6.95 bp	14.9 bp −$15	104.0 bp −$1,040	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	−0.0446%	1h	0.7183	+0.056%	$15K	$40K	10x	as long as short
Lighter VIRTUAL	−0.0168%	1h	0.7179	+0.003%	$327K	$414K	5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7181	+0.029%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0128%	1h	0.7182	+0.042%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0045%	1h	0.7207	+0.396%	$11K	$40K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7187	+0.107%	$12K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.864%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0093%	4h	0.7182	+0.042%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7192	+0.188%	$8.8M	$3.8M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7189	+0.144%	$196K	$88K	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	0.7189	+0.139%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7181	+0.028%	$16.3M	$37.7M	75x	as long as short
Bybit VIRTUALUSDTlong	+0.0100%	4h	0.7179	long leg	$15.5M	$15.8M	50x
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7183	+0.056%	$2.8M	$9.2M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7184	+0.070%	$1.5M	$2.9M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7180	+0.014%	$17.2M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7184	+0.070%	$4.3M	$4.1M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7188	+0.125%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7183	+0.056%	—	$8.0M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7183	+0.056%	$239K	$159K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7202	+0.322%	$527K	$877K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7208	+0.401%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7200	+0.293%	$638K	$918K	10x	as long as short
ApeX Omni VIRTUALUSDTshort	+0.0100%	1h	0.7211	+0.446%	$40K	$245K	50x
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7189	+0.141%	$29K	$882K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7182	+0.042%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7179	+0.007%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7180	+0.008%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7182	+0.048%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0298% / S −0.0228%	1h	0.7185	+0.079%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7186	+0.098%	$805K	$822K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7180	+0.014%	$195K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0510%	1h	0.7195	+0.225%	$585K	$596K	50x	as long as short