Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.011%

Price spread now: Polymarket Perps against Bybit+0.096%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$380.379% of the position

Long on Bybit Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.221%−$22 on $10k

Price spread, last 7 days−0.064%−$6 · spread now +0.096%, 7d avg +0.009%

Together, before fees−0.285%−$28 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: Polymarket Perps is 0.088% dearer against Bybit than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit VIRTUALUSDT	0.7163	0.0100	pay 0.0050% / 4h	54m 17s	$16.6M	$18.2M	50x
Short	Polymarket Perps VIRTUAL-USD	0.7170	0.0100	get 0.0013% / 1h	54m 17s	$51K	$984K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.096%Rate

Funding earned: $0
Price spread: +0.096% → +0.009%: $8.76
Slippage, 4 orders: −$18.91
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$29.15
Costs to cover: 0.379%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Polymarket Perps: 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, 4 min ago	0.70 bp	12.0 bp −$12	24.5 bp −$245	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 64 min ago	3.27 bp	8.0 bp −$8	8.2 bp −$82	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	−0.0169%	1h	0.7161	−0.028%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7163	+0.005%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0104%	1h	0.7164	+0.014%	$2K	$131	10x	as long as short
Lighter VIRTUAL	−0.0080%	1h	0.7157	−0.091%	$326K	$413K	5x	as long as short
Phoenix VIRTUAL	0.0000%	1h	0.7167	+0.056%	$11K	$37K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7166	+0.039%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.642%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7159	−0.056%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7174	+0.158%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7166	+0.040%	$97K	$292K	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	0.7168	+0.077%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7162	−0.014%	$16.3M	$40.3M	75x	as long as short
Bybit VIRTUALUSDTlong	+0.0100%	4h	0.7163	long leg	$16.6M	$18.2M	50x
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7163	0.000%	$2.8M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7168	+0.070%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7160	−0.042%	$17.8M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7166	+0.042%	$3.0M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7167	+0.056%	$6.1M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7165	+0.028%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7166	+0.042%	$238K	$205K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7175	+0.172%	$534K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7135	−0.391%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7164	+0.018%	$639K	$867K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7138	−0.349%	$40K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USDshort	+0.0100%	1h	0.7170	+0.096%	$51K	$984K	5x
SunX VIRTUAL-USDT	+0.0100%	4h	0.7171	+0.112%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7160	−0.035%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7159	−0.053%	$54K	$265K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7163	−0.001%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0298% / S −0.0228%	1h	0.7163	−0.001%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7164	+0.014%	$812K	$895K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0416%	1h	0.7179	+0.223%	$207K	$98K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0800%	1h	0.7169	+0.090%	$596K	$663K	50x	as long as short