VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0167%/8h= −18.3% APRnext payment −$0.21 per $10,000 · paid last 24h −0.067%

Price spread now: Deribit against Lighter+0.053%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on Deribit

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 airdropLighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Deribit is 0.053% dearer against Lighter than usual: you sell high and buy low (spread +0.053% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 25 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter VIRTUAL	0.7183	0	get 0.0000% / 1h	54m 58s	$327K	$414K	5x
Short	Deribit VIRTUAL_USDC-PERPETUAL	0.7187	−0.0167	pay 0.0021% / 1h	54m 58s	$15K	$40K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Lighter. 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 LighterbpFee DeribitbpOrdersPrice spread, now +0.053%Rate

Funding earned: −$35.12
Price spread: +0.053% → 0.000%: $5.29
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$36.83
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 20 min ago; Deribit: 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 Lighter live order book, 20 min ago	3.83 bp	5.6 bp −$6	57.8 bp −$578	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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-PERPETUALshort	−0.0167%	1h	0.7187	+0.053%	$15K	$40K	10x
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7188	+0.067%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7170	−0.188%	$11K	$40K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0096%	1h	0.7187	+0.053%	$2K	$131	10x	as long as short
Lighter VIRTUALlong	0.0000%	1h	0.7183	long leg	$327K	$414K	5x
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7189	+0.080%	$13K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.922%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0091%	4h	0.7187	+0.053%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7196	+0.182%	$8.8M	$3.7M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7188	+0.062%	$194K	$82K	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	0.7193	+0.130%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7185	+0.025%	$16.4M	$37.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7183	−0.003%	$15.5M	$15.6M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7186	+0.039%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7188	+0.067%	$1.5M	$2.8M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7185	+0.025%	$17.3M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7187	+0.053%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7190	+0.095%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7185	+0.025%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7191	+0.109%	$236K	$157K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7178	−0.067%	$526K	$878K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7160	−0.329%	$19K	$255K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7174	−0.135%	$635K	$965K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7168	−0.212%	$40K	$246K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7193	+0.136%	$29K	$818K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7186	+0.039%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7186	+0.032%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7183	−0.002%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7187	+0.058%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0298% / S −0.0228%	1h	0.7190	+0.098%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7187	+0.053%	$813K	$794K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7176	−0.100%	$195K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0510%	1h	0.7197	+0.193%	$538K	$544K	50x	as long as short