VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0012%/8h= +1.3% APRnext payment +$0.06 per $10,000 · paid last 24h −0.009%

Price spread now: Variational Omni against Orderly−0.941%7-day average −0.019% · you buy dearer than you sell

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

Long on Orderly Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.004%$0 on $10k

Price spread, last 4 days (all we have)+1.024%+$102 · spread now −0.941%, 7d avg −0.019%

Together, before fees+1.028%+ Points / potential airdropVariational Omni: Active · farm board+$103 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.922% cheaper against Orderly than usual: you would sell low and buy high (spread −0.941% now, against its 7-day average of −0.019%). If the spread goes back, that is −$92 on $10k: about 8 months of funding at the current rate ($0 a day). At the pace of the last 3 days (+0.004% in total) that is about years.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_VIRTUAL_USDC	0.7145	0.0088	pay 0.0044% / 4h	31m 55s	$14K	$1.5M	10x
Short	Variational Omni VIRTUAL	0.7078	0.0100	get 0.0050% / 4h	31m 55s	$529K	$913K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.941%Rate

Funding earned: $2.57
Price spread: −0.941% → −0.019%: −$92.21
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$95.64
Costs to cover: 0.060%
Break-even: 267.5 days

Slippage unknown: Orderly: no order-book sample; Variational Omni: RFQ quote, 27 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 Variational Omni RFQ quote, 27 min ago	4.20 bp	doesn't fit	19.6 bp −$196	doesn't fit	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	0.7143	−0.027%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0112%	1h	0.7142	−0.042%	$2K	$131	10x	as long as short
Lighter VIRTUAL	−0.0104%	1h	0.7141	−0.052%	$325K	$415K	5x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7103	−0.585%	$11K	$37K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7145	+0.003%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.392%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDClong	+0.0088%	4h	0.7145	long leg	$14K	$1.5M	10x
Hyperliquid VIRTUAL	+0.0100%	1h	0.7157	+0.164%	$8.7M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7154	+0.126%	$96K	$292K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7146	+0.017%	$70K	$43K	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	0.7157	+0.163%	$16.2M	$40.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7156	+0.154%	$16.4M	$18.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7158	+0.182%	$2.8M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7149	+0.056%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7152	+0.098%	$17.4M	$4.4M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7154	+0.126%	$2.9M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7151	+0.084%	$6.1M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7157	+0.168%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7151	+0.084%	$239K	$210K	10x	as long as short
Variational Omni VIRTUALshort	+0.0100%	4h	0.7078	−0.941%	$529K	$913K	—
edgeX VIRTUALUSDC	+0.0100%	4h	0.7096	−0.681%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7103	−0.595%	$631K	$879K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7103	−0.588%	$40K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7147	+0.029%	$54K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7149	+0.056%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7147	+0.028%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7151	+0.078%	$55K	$267K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7143	−0.022%	$18K	—	3x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	+0.0170%	1h	0.7148	+0.042%	$15K	$40K	10x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0315% / S −0.0265%	1h	0.7145	+0.002%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7137	−0.112%	$798K	$893K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0416%	1h	0.7157	+0.168%	$200K	$105K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0802%	1h	0.7150	+0.072%	$592K	$667K	50x	as long as short