VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0033%/8h= −3.6% APRnext payment −$0.04 per $10,000 · paid last 24h −0.035%

Price spread now: Phoenix against Injective+0.672%7-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 Phoenix

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—needs both histories

The price spread pays, funding is against you. Phoenix is 0.672% dearer against Injective than usual: you sell high and buy low (spread +0.672% now, against zero (this spread has no 7-day history yet)): +$67 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2 months.

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	45m 14s	$46	$88K	5.5x
Short	Phoenix VIRTUAL	0.7165	0	get 0.0000% / 1h	45m 14s	$11K	$37K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.672%Rate

Funding earned: −$7
Price spread: +0.672% → 0.000%: $67.16
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $53.14
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Phoenix: no order-book sample. 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 Phoenix no order-book sample	—	—	—	—	—

Injective and Phoenix: 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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7178	+0.858%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0064%	1h	0.7174	+0.801%	$2K	$131	10x	as long as short
Phoenix VIRTUALshort	0.0000%	1h	0.7165	+0.672%	$11K	$37K	5x
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7181	+0.899%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7179	+0.876%	$4K	—	150x	as long as short
Lighter VIRTUAL	+0.0016%	1h	0.7163	+0.646%	$325K	$413K	5x	as long as short
Injective VIRTUAL/USDC PERPlong	+0.0033%	1h	0.7117	long leg	$46	$88K	5.5x
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7180	+0.885%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7189	+1.010%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7174	+0.808%	$97K	$291K	20x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7168	+0.714%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7179	+0.870%	$16.4M	$40.7M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7180	+0.885%	$16.6M	$18.2M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7183	+0.927%	$2.9M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7178	+0.857%	$1.4M	$3.2M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7184	+0.941%	$17.3M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7177	+0.843%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7181	+0.899%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7178	+0.857%	—	$8.0M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7165	+0.674%	$239K	$160K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7162	+0.636%	$532K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7159	+0.591%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7157	+0.562%	$635K	$867K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7179	+0.871%	$40K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7184	+0.941%	$52K	$999K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7183	+0.927%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7180	+0.892%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7180	+0.880%	$54K	$277K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7180	+0.889%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7180	+0.882%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7178	+0.857%	$814K	$844K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7170	+0.745%	$187K	$82K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0910%	1h	0.7192	+1.061%	$597K	$688K	50x	as long as short