VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0063%/8h= −6.9% APRnext payment −$0.08 per $10,000 · paid last 24h −0.005%

Price spread now: Injective against Lighter−2.527%66s7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Injective

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

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 2.527% cheaper against Lighter than usual: you would sell low and buy high (−$253 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.356%, so the current rate has only just turned against you. The two prices were read 66 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	Lighter VIRTUAL	0.7301	0.0096	pay 0.0012% / 1h	20m 01s	$331K	$417K	5x
Short	Injective VIRTUAL/USDC PERP	0.7117	0.0033	get 0.0004% / 1h	20m 01s	$46	$88K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −2.527%Rate

Funding earned: −$13.16
Price spread: −2.527% → 0.000%: −$252.69
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$265.87
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 45 min ago; Injective: 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, 45 min ago	4.93 bp	8.5 bp −$8	48.9 bp −$489	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7301	−0.008%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0109%	1h	0.7329	+0.371%	$12K	$40K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0048%	1h	0.7300	−0.021%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7306	+0.062%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7304	+0.041%	$4K	—	150x	as long as short
Injective VIRTUAL/USDC PERPshort	+0.0033%	1h	0.7117	−2.527%	$46	$88K	5.5x
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7307	+0.075%	$14K	$1.5M	10x	as long as short
Lighter VIRTUALlong	+0.0096%	1h	0.7301	long leg	$331K	$417K	5x
Aster VIRTUALUSDT	+0.0100%	4h	0.7305	+0.051%	$199K	$159K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7302	+0.010%	$72K	$45K	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	0.7309	+0.097%	$16.9M	$39.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7313	+0.158%	$16.6M	$17.1M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7310	+0.116%	$2.9M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7305	+0.048%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7305	+0.048%	$18.4M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7314	+0.171%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7316	+0.199%	$6.3M	$5.7M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7307	+0.075%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7308	+0.089%	$248K	$164K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7286	−0.208%	$545K	$885K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7301	−0.003%	$19K	$259K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7328	+0.362%	$651K	$889K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7302	+0.007%	$41K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7306	+0.056%	$48K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7295	−0.089%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7304	+0.032%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7304	+0.032%	$55K	$283K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7292	−0.132%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0208%	1h	0.7316	+0.203%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0300% / S −0.0228%	1h	0.7305	+0.054%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7286	−0.212%	$827K	$839K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7313	+0.158%	$198K	$92K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0740%	1h	0.7317	+0.207%	$606K	$644K	50x	as long as short