Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: Variational Omni against GRVT−0.119%7-day average +0.015% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on GRVT Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.014%−$1 on $10k

Price spread, last 3 days (all we have)+0.115%+$11 · spread now −0.119%, 7d avg +0.015%

Together, before fees+0.100%+ Points / potential airdropGRVT: Active · Variational Omni: Active · farm board+$10 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: Variational Omni is 0.134% cheaper against GRVT than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT VIRTUAL_USDT_Perp	0.7318	0.0100	pay 0.0050% / 4h	36m 39s	$650K	$915K	10x
Short	Variational Omni VIRTUAL	0.7310	0.0100	get 0.0050% / 4h	36m 39s	$535K	$878K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against GRVT. 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 GRVTbpFee Variational OmnibpOrdersPrice spread, now −0.119%Rate

Funding earned: $0
Price spread: −0.119% → +0.015%: −$13.4
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$22.4
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 41 min ago; Variational Omni: RFQ quote, 42 min ago. Net counts fees only.

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 GRVT live order book, 41 min ago	9.05 bp	27.7 bp −$28	62.7 bp −$627	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 42 min ago	5.55 bp	doesn't fit	22.2 bp −$222	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	−0.0298%	1h	0.7292	−0.360%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7298	−0.276%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0128%	1h	0.7298	−0.278%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0066%	1h	0.7311	−0.093%	$11K	$40K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7297	−0.288%	$9K	—	150x	as long as short
Lighter VIRTUAL	+0.0016%	1h	0.7301	−0.239%	$332K	$415K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.751%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0093%	4h	0.7291	−0.373%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7307	−0.155%	$200K	$101K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7308	−0.144%	$73K	$44K	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	0.7305	−0.182%	$16.6M	$38.3M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7306	−0.168%	$16.2M	$16.4M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7305	−0.182%	$2.9M	$9.5M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7304	−0.196%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7302	−0.223%	$18.1M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7305	−0.182%	$4.4M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7312	−0.086%	$6.3M	$5.5M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7304	−0.196%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7293	−0.346%	$247K	$169K	10x	as long as short
Variational Omni VIRTUALshort	+0.0100%	4h	0.7310	−0.119%	$535K	$878K	—
edgeX VIRTUALUSDC	+0.0100%	4h	0.7312	−0.085%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perplong	+0.0100%	4h	0.7318	long leg	$650K	$915K	10x
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7308	−0.141%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7304	−0.200%	$36K	$954K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7287	−0.428%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7290	−0.390%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7308	−0.148%	$54K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7291	−0.372%	$18K	$505	3x	as long as short
Hyperliquid VIRTUAL	+0.0153%	1h	0.7318	−0.008%	$9.1M	$3.9M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7299	−0.265%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7294	−0.332%	$813K	$846K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7310	−0.114%	$199K	$96K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0862%	1h	0.7307	−0.157%	$595K	$578K	50x	as long as short