Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: OKX against Extended+0.016%7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$560.558% of the position

Long on Extended Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 4 days (all we have)+0.080%+$8 · spread now +0.016%, 7d avg +0.050%

Together, before fees+0.060%+ Points / potential airdropExtended: Active · farm board+$6 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: OKX is 0.034% cheaper against Extended than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended VIRTUAL-USD	0.7221	0.0104	pay 0.0013% / 1h	32m 02s	$56K	$275K	10x
Short	OKX VIRTUAL-USDT-SWAP	0.7222	0.0100	get 0.0050% / 4h	2h 32m	$2.9M	$9.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.016%Rate

Funding earned: −$0.84
Price spread: +0.016% → +0.050%: −$3.42
Slippage, 4 orders: −$40.76
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$60.02
Costs to cover: 0.558%
Break-even: never at this rate

Slippage from Extended: live order book, 35 min ago; OKX: live order book, 1 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, 35 min ago	2.43 bp	14.3 bp −$14	182.8 bp −$1,828	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.69 bp	14.2 bp −$14	44.2 bp −$442	doesn't fit	doesn't fit

VIRTUAL on 32 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	0.7227	+0.091%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0088%	1h	0.7225	+0.058%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7225	+0.058%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7227	+0.081%	$4K	—	150x	as long as short
Phoenix VIRTUAL	+0.0011%	1h	0.7219	−0.024%	$11K	$46K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.438%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7222	+0.016%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7215	−0.086%	$328K	$414K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7229	+0.112%	$8.9M	$4.2M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7223	+0.029%	$171K	$296K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7222	+0.022%	$71K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7225	+0.059%	$16.6M	$41.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7225	+0.058%	$16.5M	$18.2M	50x	as long as short
OKX VIRTUAL-USDT-SWAPshort	+0.0100%	4h	0.7222	+0.016%	$2.9M	$9.9M	20x
Gate VIRTUAL_USDT	+0.0100%	4h	0.7226	+0.072%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7219	−0.025%	$17.5M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7228	+0.099%	$4.2M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7223	+0.030%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7222	+0.016%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7225	+0.058%	$244K	$173K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7202	−0.262%	$535K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7195	−0.354%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7203	−0.247%	$639K	$888K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7203	−0.247%	$41K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7231	+0.142%	$52K	$1.2M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7221	+0.002%	$2K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7220	−0.005%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USDlong	+0.0104%	1h	0.7221	long leg	$56K	$275K	10x
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7222	+0.010%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7227	+0.086%	$30K	—	100x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7232	+0.155%	$196K	$93K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.1021%	1h	0.7233	+0.174%	$597K	$666K	50x	as long as short