VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0344%/8h= +37.7% APRnext payment +$0.43 per $10,000 · paid last 24h +0.071%

Price spread now: Coinbase International against Extended+0.915%7-day average +0.296% · you sell dearer than you buy

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$1341.339% of the position

Long on Extended Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.415%+$41 on $10k

Price spread, last 3 days (all we have)−0.620%−$62 · spread now +0.915%, 7d avg +0.296%

Together, before fees−0.205%+ Points / potential airdropExtended: Active · farm board−$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Coinbase International is 0.619% dearer against Extended than usual: you sell high and buy low: +$62 more if the spread goes back to its 7-day average of +0.296%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended VIRTUAL-USD	0.7299	0.0104	pay 0.0013% / 1h	43m 57s	$58K	$249K	10x
Short	Coinbase International VIRTUAL-PERP-INTX	0.7366	0.0448	get 0.0056% / 1h	43m 57s	$200K	$92K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.915%Rate

Funding earned: $72.24
Price spread: +0.915% → +0.296%: $61.93
Slippage, 4 orders: −$118.9
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $0.27
Costs to cover: 1.339%
Break-even: 7.0 days

Slippage from Extended: live order book, 28 min ago; Coinbase International: live order book, 29 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, 28 min ago	2.75 bp	14.4 bp −$14	132.9 bp −$1,329	doesn't fit	doesn't fit
Sell Coinbase International live order book, 29 min ago	6.86 bp	52.5 bp −$52	889.1 bp −$8,891	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	−0.0436%	1h	0.7286	−0.181%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7286	−0.186%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0109%	1h	0.7302	+0.041%	$11K	$40K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0088%	1h	0.7288	−0.154%	$2K	$131	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7293	−0.083%	$9K	—	150x	as long as short
Lighter VIRTUAL	+0.0032%	1h	0.7285	−0.193%	$331K	$417K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.496%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0088%	4h	0.7290	−0.126%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7295	−0.059%	$199K	$157K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7300	+0.004%	$72K	$45K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VIRTUALUSDT	+0.0100%	4h	0.7301	+0.024%	$16.8M	$39.8M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7301	+0.024%	$16.3M	$17.0M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7303	+0.052%	$2.9M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7302	+0.038%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7301	+0.024%	$18.4M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7302	+0.038%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7303	+0.052%	$6.3M	$5.6M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7302	+0.038%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7290	−0.126%	$247K	$168K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7302	+0.036%	$546K	$888K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7314	+0.209%	$19K	$259K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7322	+0.317%	$650K	$927K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7311	+0.161%	$40K	$243K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7295	−0.062%	$45K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7286	−0.181%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7286	−0.181%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USDlong	+0.0104%	1h	0.7299	long leg	$58K	$249K	10x
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7289	−0.134%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0115%	1h	0.7301	+0.024%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7291	−0.119%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7295	−0.058%	$825K	$847K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTXshort	+0.0448%	1h	0.7366	+0.915%	$200K	$92K	50x
Kraken Futures PF_VIRTUALUSD	+0.0741%	1h	0.7305	+0.079%	$603K	$635K	50x	as long as short