Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.025%

Price spread now: Aster against Injective+0.242%97s7-day average — · you sell dearer than you buy

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

Long on Injective Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Aster is 0.242% dearer against Injective than usual: you sell high and buy low: +$24 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 97 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	Injective VIRTUAL/USDC PERP	0.7117	0.0033	pay 0.0004% / 1h	57m 45s	$46	$88K	5.5x
Short	Aster VIRTUALUSDT	0.7134	0.0100	get 0.0050% / 4h	57m 45s	$97K	$291K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Injective. 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 InjectivebpFee AsterbpOrdersPrice spread, now +0.242%Rate

Funding earned: $14
Price spread: +0.242% → 0.000%: $24.16
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: $30.14
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Aster: live order book, 64 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 Injective no order-book sample	—	—	—	—	—
Sell Aster live order book, 64 min ago	8.33 bp	16.4 bp −$16	114.6 bp −$1,146	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0449%	1h	0.7146	+0.407%	$15K	$40K	10x	as long as short
Lighter VIRTUAL	−0.0296%	1h	0.7126	+0.119%	$324K	$412K	5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7148	+0.434%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0112%	1h	0.7152	+0.492%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	0.0000%	1h	0.7155	+0.527%	$11K	$34K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7150	+0.458%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERPlong	+0.0033%	1h	0.7117	long leg	$46	$88K	5.5x
SoDEX VIRTUAL-USD	+0.0065%	1h	0.7146	+0.403%	$1K	$9K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7145	+0.393%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7139	+0.312%	$8.8M	$4.1M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDTshort	+0.0100%	4h	0.7134	+0.242%	$97K	$291K	20x
Pacifica VIRTUAL	+0.0100%	1h	0.7128	+0.157%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7124	+0.102%	$16.3M	$40.4M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7122	+0.070%	$16.5M	$18.1M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7122	+0.070%	$2.8M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7131	+0.197%	$1.4M	$3.2M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7126	+0.126%	$17.5M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7134	+0.239%	$3.0M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7132	+0.211%	$6.1M	$5.9M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7127	+0.141%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7143	+0.365%	$237K	$206K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7157	+0.562%	$533K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7155	+0.528%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7164	+0.662%	$639K	$867K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7159	+0.590%	$40K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7157	+0.558%	$51K	$984K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7148	+0.436%	$2K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7121	+0.051%	$53K	$265K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7157	+0.561%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0298% / S −0.0228%	1h	0.7149	+0.449%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7159	+0.590%	$816K	$894K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0416%	1h	0.7179	+0.871%	$207K	$98K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0802%	1h	0.7154	+0.520%	$595K	$665K	50x	as long as short