VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0429%/8h= +47.0% APRnext payment +$0.54 per $10,000 · paid last 24h +0.136%

Price spread now: Coinbase International against Phoenix+0.307%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 Coinbase International

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

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Coinbase International is 0.307% dearer against Phoenix than usual: you sell high and buy low: +$31 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix VIRTUAL	0.7194	0.0011	pay 0.0001% / 1h	10m 48s	$11K	$46K	5x
Short	Coinbase International VIRTUAL-PERP-INTX	0.7216	0.0440	get 0.0055% / 1h	10m 48s	$189K	$101K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.307%Rate

Funding earned: $90.08
Price spread: +0.307% → 0.000%: $30.72
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $103.8
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Phoenix: no order-book sample; Coinbase International: live order book, 57 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 Coinbase International live order book, 57 min ago	6.75 bp	48.5 bp −$49	1007.2 bp −$10.1K	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 32 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	0.7187	−0.102%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0072%	1h	0.7183	−0.152%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7195	+0.015%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7187	−0.102%	$4K	—	150x	as long as short
Phoenix VIRTUALlong	+0.0011%	1h	0.7194	long leg	$11K	$46K	5x
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.069%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7193	−0.013%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7191	−0.039%	$326K	$415K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7204	+0.145%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7195	+0.015%	$98K	$296K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7190	−0.056%	$71K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7192	−0.032%	$16.4M	$41.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7192	−0.026%	$16.6M	$18.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7193	−0.013%	$2.9M	$10.0M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7193	−0.013%	$1.4M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7191	−0.040%	$17.5M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7191	−0.040%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7192	−0.026%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7192	−0.026%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7197	+0.043%	$243K	$170K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7186	−0.106%	$535K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7199	+0.070%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7192	−0.031%	$637K	$881K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7192	−0.026%	$41K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7193	−0.008%	$52K	$1.2M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7186	−0.110%	$1K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7197	+0.036%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7189	−0.066%	$54K	$275K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7194	−0.001%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7188	−0.088%	$30K	—	100x	as long as short
Coinbase International VIRTUAL-PERP-INTXshort	+0.0440%	1h	0.7216	+0.307%	$189K	$101K	50x
Kraken Futures PF_VIRTUALUSD	+0.1024%	1h	0.7207	+0.178%	$595K	$668K	50x	as long as short