Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against OKX−0.012%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$490.491% of the position

Long on OKX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 7 days+0.015%+$2 · spread now −0.012%, 7d avg −0.015%

Together, before fees+0.035%+$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX VIRTUAL-USDT-SWAP	0.7269	0.0100	pay 0.0050% / 4h	11m 22s	$2.9M	$9.5M	20x
Short	Binance VIRTUALUSDT	0.7268	0.0100	get 0.0050% / 4h	11m 22s	$16.5M	$38.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against OKX. 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 OKXbpFee BinancebpOrdersPrice spread, now −0.012%Rate

Funding earned: $0
Price spread: −0.012% → −0.015%: $0.23
Slippage, 4 orders: −$29.05
Fee OKX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$48.82
Costs to cover: 0.491%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Binance: live order book, 15 min ago.

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 OKX live order book, 2 min ago	0.69 bp	13.6 bp −$14	37.5 bp −$375	doesn't fit	doesn't fit
Sell Binance live order book, 15 min ago	0.69 bp	9.3 bp −$9	20.1 bp −$201	87.9 bp −$8,792	doesn't fit

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
01 Exchange VIRTUALUSD	−0.0168%	1h	0.7264	−0.069%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0162%	1h	0.7273	+0.055%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7266	−0.042%	$24	—	10x	as long as short
Lighter VIRTUAL	−0.0112%	1h	0.7274	+0.066%	$330K	$416K	5x	as long as short
Phoenix VIRTUAL	−0.0066%	1h	0.7293	+0.333%	$11K	$40K	5x	as long as short
SoDEX VIRTUAL-USD	−0.0017%	1h	0.7269	0.000%	$1K	$9K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7274	+0.072%	$8K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.091%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7270	+0.014%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7274	+0.063%	$200K	$102K	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	0.7284	+0.205%	$72K	$45K	5x	as long as short
Binance VIRTUALUSDTshort	+0.0100%	4h	0.7268	−0.012%	$16.5M	$38.9M	75x
Bybit VIRTUALUSDT	+0.0100%	4h	0.7270	+0.014%	$16.2M	$16.7M	50x	as long as short
OKX VIRTUAL-USDT-SWAPlong	+0.0100%	4h	0.7269	long leg	$2.9M	$9.5M	20x
Gate VIRTUAL_USDT	+0.0100%	4h	0.7271	+0.028%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7266	−0.041%	$18.2M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7273	+0.055%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7277	+0.110%	$6.3M	$5.5M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7270	+0.014%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7284	+0.206%	$247K	$168K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7266	−0.042%	$543K	$888K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7274	+0.066%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7271	+0.026%	$646K	$915K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7273	+0.055%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7272	+0.039%	$37K	$993K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7272	+0.041%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7267	−0.033%	$54K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7269	+0.003%	$18K	$505	3x	as long as short
Hyperliquid VIRTUAL	+0.0112%	1h	0.7280	+0.149%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7273	+0.059%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7279	+0.138%	$816K	$848K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7311	+0.578%	$199K	$94K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0865%	1h	0.7285	+0.219%	$595K	$581K	50x	as long as short