VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0008%/8h= +0.8% APRnext payment +$0.04 per $10,000 · paid last 24h +0.008%

Price spread now: Bybit against Orderly−0.028%7-day average −0.017% · you buy dearer than you sell

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

Long on Orderly Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.148%+$15 on $10k

Price spread, last 3 days (all we have)+0.068%+$7 · spread now −0.028%, 7d avg −0.017%

Together, before fees+0.216%+$22 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_VIRTUAL_USDC	0.7171	0.0092	pay 0.0046% / 4h	1h 39m	$14K	$1.5M	10x
Short	Bybit VIRTUALUSDT	0.7169	0.0100	get 0.0050% / 4h	1h 39m	$15.5M	$15.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Orderly. 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 OrderlybpFee BybitbpOrdersPrice spread, now −0.028%Rate

Funding earned: $1.6
Price spread: −0.028% → −0.017%: −$1.08
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$16.47
Costs to cover: 0.170%
Break-even: 78.9 days

Slippage unknown: Orderly: no order-book sample; Bybit: 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 Orderly no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	0.70 bp	11.8 bp −$12	24.4 bp −$244	135.9 bp −$13.6K	doesn't fit

Orderly: 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	0.7172	+0.017%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0104%	1h	0.7169	−0.028%	$2K	$131	10x	as long as short
Lighter VIRTUAL	−0.0072%	1h	0.7167	−0.060%	$326K	$414K	5x	as long as short
Phoenix VIRTUAL	−0.0045%	1h	0.7175	+0.057%	$11K	$40K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7174	+0.042%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7175	+0.056%	$12K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.753%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDClong	+0.0092%	4h	0.7171	long leg	$14K	$1.5M	10x
Hyperliquid VIRTUAL	+0.0100%	1h	0.7180	+0.127%	$8.7M	$3.7M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7174	+0.037%	$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	0.7178	+0.095%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7171	0.000%	$16.3M	$37.5M	75x	as long as short
Bybit VIRTUALUSDTshort	+0.0100%	4h	0.7169	−0.028%	$15.5M	$15.6M	50x
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7174	+0.042%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7173	+0.028%	$1.5M	$2.8M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7172	+0.014%	$17.3M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7176	+0.070%	$4.3M	$4.1M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7173	+0.028%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7168	−0.042%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7175	+0.056%	$238K	$158K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7174	+0.044%	$526K	$875K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7174	+0.037%	$19K	$256K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7171	−0.004%	$635K	$960K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7180	+0.126%	$40K	$246K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7176	+0.064%	$32K	$832K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7172	+0.014%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7170	−0.017%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7169	−0.027%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7169	−0.024%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0297% / S −0.0228%	1h	0.7174	+0.040%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7167	−0.056%	$806K	$790K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7189	+0.251%	$196K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0511%	1h	0.7182	+0.147%	$538K	$540K	50x	as long as short