VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1044%/8h= −114.3% APRnext payment −$1.30 per $10,000 · paid last 24h +0.061%

Price spread now: ApeX Omni against Phoenix+0.255%7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on ApeX Omni

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—needs both histories

The price spread pays, funding is against you. ApeX Omni is 0.255% dearer against Phoenix than usual: you sell high and buy low (spread +0.255% now, against zero (this spread has no 7-day history yet)): +$26 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix VIRTUAL	0.7204	−0.0109	get 0.0014% / 1h	54m 21s	$11K	$46K	5x
Short	ApeX Omni VIRTUALUSDT	0.7222	−0.1153	pay 0.0144% / 1h	54m 21s	$41K	$244K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Phoenix. 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 PhoenixbpFee ApeX OmnibpOrdersPrice spread, now +0.255%Rate

Funding earned: −$219.15
Price spread: +0.255% → 0.000%: $25.54
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$210.61
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Phoenix: no order-book sample; ApeX Omni: live order book, 12 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 Phoenix no order-book sample	—	—	—	—	—
Sell ApeX Omni live order book, 12 min ago	5.43 bp	12.8 bp −$13	100.1 bp −$1,001	doesn't fit	doesn't fit

Phoenix: 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
ApeX Omni VIRTUALUSDTshort	−0.1153%	1h	0.7222	+0.255%	$41K	$244K	50x
Deribit VIRTUAL_USDC-PERPETUAL	−0.0167%	1h	0.7188	−0.217%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7178	−0.357%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0128%	1h	0.7172	−0.439%	$2K	$131	10x	as long as short
Phoenix VIRTUALlong	−0.0109%	1h	0.7204	long leg	$11K	$46K	5x
Lighter VIRTUAL	−0.0048%	1h	0.7185	−0.253%	$326K	$413K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7184	−0.265%	$4K	—	150x	as long as short
SoDEX VIRTUAL-USD	+0.0028%	1h	0.7201	−0.036%	$1K	$9K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.202%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7192	−0.161%	$14K	$1.5M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VIRTUAL	+0.0100%	1h	0.7186	−0.247%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7183	−0.282%	$170K	$194K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7191	−0.175%	$71K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7182	−0.300%	$16.5M	$41.0M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7185	−0.258%	$16.2M	$17.8M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7186	−0.244%	$2.8M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7184	−0.272%	$1.4M	$3.1M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7177	−0.369%	$17.3M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7181	−0.314%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7199	−0.064%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7184	−0.272%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7186	−0.244%	$249K	$174K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7183	−0.281%	$526K	$898K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7225	+0.304%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7205	+0.025%	$641K	$877K	10x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7185	−0.253%	$51K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7200	−0.050%	$1K	$1.4M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7192	−0.163%	$54K	$272K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7193	−0.148%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7184	−0.271%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7190	−0.189%	$833K	$849K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7288	+1.172%	$198K	$93K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.1023%	1h	0.7214	+0.151%	$594K	$661K	50x	as long as short