Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: BingX against Extended+0.032%7-day average +0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$460.461% of the position

Long on Extended Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.055%+$5 on $10k

Price spread, last 4 days (all we have)−0.037%−$4 · spread now +0.032%, 7d avg +0.038%

Together, before fees+0.018%+ Points / potential airdropExtended: Active · farm board+$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended VIRTUAL-USD	0.7175	0.0104	pay 0.0013% / 1h	56m 56s	$53K	$246K	10x
Short	BingX VIRTUAL-USDT	0.7177	0.0100	get 0.0050% / 4h	1h 56m	—	$8.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Extended. 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 ExtendedbpFee BingXbpOrdersPrice spread, now +0.032%Rate

Funding earned: −$0.84
Price spread: +0.032% → +0.038%: −$0.53
Slippage, 4 orders: −$31.14
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$47.52
Costs to cover: 0.461%
Break-even: never at this rate

Slippage from Extended: live order book, 25 min ago; BingX: live order book, 11 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 Extended live order book, 25 min ago	1.81 bp	15.0 bp −$15	120.6 bp −$1,206	doesn't fit	doesn't fit
Sell BingX live order book, 11 min ago	2.09 bp	7.1 bp −$7	11.2 bp −$112	18.7 bp −$1,868	62.0 bp −$31.0K

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	0.7168	−0.096%	$24	—	10x	as long as short
Lighter VIRTUAL	−0.0120%	1h	0.7163	−0.165%	$326K	$414K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0120%	1h	0.7163	−0.163%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7158	−0.235%	$11K	$39K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0029%	1h	0.7170	−0.065%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7172	−0.038%	$12K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.804%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7170	−0.065%	$14K	$1.5M	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7153	−0.299%	$525K	$878K	—	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7179	+0.062%	$8.7M	$3.7M	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	0.7174	−0.008%	$194K	$82K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7169	−0.073%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7182	+0.101%	$16.4M	$37.4M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7182	+0.102%	$15.5M	$15.6M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7183	+0.116%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7180	+0.074%	$1.5M	$2.8M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7179	+0.060%	$17.3M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7171	−0.051%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7176	+0.018%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDTshort	+0.0100%	4h	0.7177	+0.032%	—	$8.1M	—
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7175	+0.005%	$236K	$158K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7160	−0.210%	$19K	$255K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7157	−0.246%	$634K	$965K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7161	−0.191%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7171	−0.044%	$29K	$815K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7167	−0.107%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7166	−0.124%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USDlong	+0.0104%	1h	0.7175	long leg	$53K	$246K	10x
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7168	−0.098%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0297% / S −0.0228%	1h	0.7172	−0.043%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7167	−0.107%	$814K	$792K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7176	+0.018%	$195K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0511%	1h	0.7176	+0.024%	$537K	$544K	50x	as long as short