Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0236%/8h= +25.8% APRpaid last 24h +0.071%

Price spread now: BloFin against Extended−0.026%54s7-day average +0.037% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$480.475% of the position

Long on Extended Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.402%+$40 on $10k

Price spread, last 3 days (all we have)+0.014%+$1 · spread now −0.026%, 7d avg +0.037%

Together, before fees+0.416%+ Points / potential airdropExtended: Active · farm board+$42 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.062% cheaper against Extended than usual: you would sell low and buy high (spread −0.026% now, against its 7-day average of +0.037%). If the spread goes back, that is −$6 on $10k: about 21 hours of funding at the current rate (+$7 a day). The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended VIRTUAL-USD	0.7192	0.0104	pay 0.0013% / 1h	54m 14s	$54K	$272K	10x
Short	BloFin VIRTUAL-USDT	0.7190	0.0340	get 0.0170% / 4h	2h 54m	$833K	$849K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.026%Rate

Funding earned: $49.56
Price spread: −0.026% → +0.037%: −$6.22
Slippage, 4 orders: −$30.53
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$4.18
Costs to cover: 0.475%
Break-even: 7.6 days

Slippage from Extended: live order book, 13 min ago; BloFin: live order book, 13 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, 13 min ago	2.43 bp	14.3 bp −$14	182.8 bp −$1,828	doesn't fit	doesn't fit
Sell BloFin live order book, 13 min ago	1.36 bp	8.6 bp −$9	17.3 bp −$173	63.5 bp −$6,352	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
ApeX Omni VIRTUALUSDT	−0.1153%	1h	0.7222	+0.419%	$41K	$244K	50x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0167%	1h	0.7188	−0.053%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7178	−0.194%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0128%	1h	0.7172	−0.276%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0109%	1h	0.7204	+0.163%	$11K	$46K	5x	as long as short
Lighter VIRTUAL	−0.0048%	1h	0.7192	+0.009%	$327K	$413K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7184	−0.102%	$4K	—	150x	as long as short
SoDEX VIRTUAL-USD	+0.0028%	1h	0.7201	+0.127%	$1K	$9K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.041%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7192	+0.002%	$14K	$1.5M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VIRTUAL	+0.0100%	1h	0.7208	+0.227%	$8.9M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7184	−0.109%	$170K	$194K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7191	−0.012%	$71K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7198	+0.086%	$16.6M	$41.0M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7200	+0.113%	$16.3M	$17.8M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7204	+0.169%	$2.8M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7201	+0.127%	$1.4M	$3.1M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7199	+0.099%	$17.4M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7199	+0.099%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7203	+0.155%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7203	+0.155%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7205	+0.183%	$246K	$176K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7183	−0.118%	$526K	$898K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7225	+0.468%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7205	+0.189%	$641K	$877K	10x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7185	−0.090%	$51K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7200	+0.113%	$1K	$1.4M	20x	as long as short
Extended VIRTUAL-USDlong	+0.0104%	1h	0.7192	long leg	$54K	$272K	10x
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7193	+0.016%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7184	−0.108%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDTshort	+0.0340%	4h	0.7190	−0.026%	$833K	$849K	75x
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7288	+1.337%	$198K	$93K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.1023%	1h	0.7214	+0.315%	$594K	$661K	50x	as long as short