VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0144%/8h= −15.8% APRnext payment −$0.18 per $10,000 · paid last 24h −0.027%

Price spread now: Lighter against Extended+0.283%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$470.465% of the position

Long on Extended Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.283%−$28 on $10k

Price spread, last 4 days (all we have)−0.207%−$21 · spread now +0.283%, 7d avg +0.031%

Together, before fees−0.490%+ Points / potential airdropExtended: Active · Lighter: Season 3 · farm board−$49 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.252% dearer against Extended than usual: you sell high and buy low (spread +0.283% now, against its 7-day average of +0.031%): +$25 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 5.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended VIRTUAL-USD	0.7062	0.0104	pay 0.0013% / 1h	40m 55s	$56K	$302K	10x
Short	Lighter VIRTUAL	0.7082	−0.0040	pay 0.0005% / 1h	40m 55s	$322K	$402K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.283%Rate

Funding earned: −$30.24
Price spread: +0.283% → +0.031%: $25.15
Slippage, 4 orders: −$41.52
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Lighter: 0 bp × 2 orders: $0
Net: −$51.61
Costs to cover: 0.465%
Break-even: never at this rate

Slippage from Extended: live order book, 6 min ago; Lighter: 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 Extended live order book, 6 min ago	2.60 bp	15.1 bp −$15	190.1 bp −$1,901	doesn't fit	doesn't fit
Sell Lighter live order book, 64 min ago	4.93 bp	8.7 bp −$9	63.6 bp −$636	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	−0.0455%	1h	0.7088	+0.363%	$15K	$40K	10x	as long as short
01 Exchange VIRTUALUSD	−0.0144%	1h	0.7087	+0.349%	$2K	$106	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7089	+0.383%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7126	+0.897%	$11K	$36K	5x	as long as short
Lighter VIRTUALshort	−0.0040%	1h	0.7082	+0.283%	$322K	$402K	5x
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7091	+0.408%	$14K	—	150x	as long as short
SoDEX VIRTUAL-USD	+0.0030%	1h	0.7087	+0.342%	$1K	$9K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	+0.774%	$46	$88K	5.5x	as long as short
Bybit VIRTUALUSDT	+0.0065%	4h	0.7058	−0.061%	$16.2M	$18.9M	50x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0076%	4h	0.7086	+0.335%	$14K	$1.4M	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	0.7080	+0.244%	$8.7M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7071	+0.121%	$92K	$299K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7094	+0.448%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7065	+0.038%	$15.9M	$41.5M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7065	+0.038%	$2.8M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7070	+0.108%	$1.4M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7065	+0.038%	$15.4M	$4.9M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7066	+0.052%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7064	+0.023%	$6.0M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7065	+0.038%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7071	+0.123%	$236K	$210K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7080	+0.255%	$530K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7101	+0.544%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7115	+0.740%	$628K	$987K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7103	+0.576%	$40K	$237K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7093	+0.434%	$52K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7092	+0.420%	$2K	$1.3M	20x	as long as short
Extended VIRTUAL-USDlong	+0.0104%	1h	0.7062	long leg	$56K	$302K	10x
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7085	+0.327%	$18K	—	3x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0281%	1h	0.7096	+0.477%	$579K	$676K	50x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0317% / S −0.0269%	1h	0.7091	+0.404%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7082	+0.278%	$787K	$988K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0432%	1h	0.7162	+1.411%	$199K	$104K	50x	as long as short