VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0023%/8h= −2.5% APRnext payment −$0.11 per $10,000 · paid last 24h −0.004%

Price spread now: Orderly against Bybit+0.183%7-day average +0.018% · you sell dearer than you buy

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

Long on Bybit Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.160%−$16 on $10k

Price spread, last 4 days (all we have)−0.225%−$22 · spread now +0.183%, 7d avg +0.018%

Together, before fees−0.385%−$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Orderly is 0.165% dearer against Bybit than usual: you sell high and buy low (spread +0.183% now, against its 7-day average of +0.018%): +$17 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 24 days. At the pace of the last 7 days (−0.160% in total) that is about 7.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit VIRTUALUSDT	0.7101	0.0100	pay 0.0050% / 4h	2h 43m	$16.4M	$18.8M	50x
Short	Orderly PERP_VIRTUAL_USDC	0.7114	0.0077	get 0.0039% / 4h	2h 43m	$14K	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.183%Rate

Funding earned: −$4.79
Price spread: +0.183% → +0.018%: $16.53
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$5.26
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 5 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 Bybit live order book, 5 min ago	0.70 bp	9.7 bp −$10	23.8 bp −$238	doesn't fit	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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7114	+0.177%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0136%	1h	0.7100	−0.014%	$2K	$106	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7126	+0.348%	$11K	$36K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0031%	1h	0.7116	+0.211%	$15K	$40K	10x	as long as short
Lighter VIRTUAL	−0.0024%	1h	0.7102	+0.010%	$323K	$402K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7117	+0.228%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	+0.225%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDCshort	+0.0077%	4h	0.7114	+0.183%	$14K	$1.4M	10x
Hyperliquid VIRTUAL	+0.0100%	1h	0.7119	+0.255%	$8.7M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7111	+0.135%	$93K	$299K	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	0.7108	+0.099%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7102	+0.019%	$16.0M	$41.4M	75x	as long as short
Bybit VIRTUALUSDTlong	+0.0100%	4h	0.7101	long leg	$16.4M	$18.8M	50x
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7105	+0.056%	$2.8M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7107	+0.084%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7103	+0.028%	$15.7M	$4.8M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7109	+0.113%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7103	+0.028%	$6.1M	$5.9M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7104	+0.042%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7116	+0.211%	$238K	$210K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7108	+0.102%	$532K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7122	+0.296%	$19K	$262K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7115	+0.192%	$628K	$987K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7128	+0.380%	$40K	$238K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7117	+0.221%	$52K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7118	+0.239%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7112	+0.159%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7103	+0.023%	$57K	$302K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7113	+0.163%	$18K	—	3x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0280%	1h	0.7124	+0.326%	$581K	$676K	50x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0317% / S −0.0269%	1h	0.7115	+0.204%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7112	+0.155%	$789K	$980K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0432%	1h	0.7162	+0.859%	$199K	$104K	50x	as long as short