VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0017%/8h= −1.9% APRnext payment −$0.02 per $10,000 · paid last 24h +0.005%

Price spread now: Lighter against Injective+0.995%96s7-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 Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−1.356%−$136 on $10k

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

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Lighter is 0.995% dearer against Injective than usual: you sell high and buy low (spread +0.995% now, against zero (this spread has no 7-day history yet)): +$99 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6 months. At the pace of the last 7 days (−1.356% in total) that is about 5.1 days. The two prices were read 96 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	55m 45s	$46	$88K	5.5x
Short	Lighter VIRTUAL	0.7188	0.0016	get 0.0002% / 1h	55m 45s	$326K	$413K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.995%Rate

Funding earned: −$3.64
Price spread: +0.995% → 0.000%: $99.48
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Lighter: 0 bp × 2 orders: $0
Net: $95.82
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Lighter: live order book, 4 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 Lighter live order book, 4 min ago	5.58 bp	7.1 bp −$7	67.9 bp −$679	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	−0.0306%	1h	0.7191	+1.040%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7192	+1.052%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0109%	1h	0.7305	+2.635%	$11K	$37K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0104%	1h	0.7194	+1.082%	$2K	$131	10x	as long as short
SoDEX VIRTUAL-USD	−0.0051%	1h	0.7189	+1.019%	$1K	$9K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7192	+1.057%	$4K	—	150x	as long as short
Lighter VIRTUALshort	+0.0016%	1h	0.7188	+0.995%	$326K	$413K	5x
Injective VIRTUAL/USDC PERPlong	+0.0033%	1h	0.7117	long leg	$46	$88K	5.5x
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7190	+1.026%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7201	+1.176%	$8.9M	$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 VIRTUALUSDT	+0.0100%	4h	0.7201	+1.176%	$171K	$194K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7196	+1.112%	$71K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7193	+1.068%	$16.6M	$40.8M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7198	+1.138%	$16.3M	$17.7M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7196	+1.110%	$2.8M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7196	+1.110%	$1.4M	$3.1M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7194	+1.082%	$17.4M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7198	+1.138%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7194	+1.082%	$6.2M	$5.9M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7200	+1.166%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7193	+1.068%	$249K	$174K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7183	+0.933%	$526K	$898K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7260	+2.009%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7261	+2.023%	$646K	$877K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7266	+2.094%	$41K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7199	+1.147%	$51K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7186	+0.970%	$2K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7197	+1.122%	$54K	$272K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7190	+1.023%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7190	+1.020%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7209	+1.293%	$831K	$851K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7288	+2.403%	$198K	$93K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.1026%	1h	0.7198	+1.142%	$595K	$659K	50x	as long as short