Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.013%

Price spread now: ApeX Omni against Polymarket Perps+0.171%63s7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$450.449% of the position

Long on Polymarket Perps Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.233%+$23 on $10k

Price spread, last 4 days (all we have)−0.264%−$26 · spread now +0.171%, 7d avg +0.011%

Together, before fees−0.031%−$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.160% dearer against Polymarket Perps than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of +0.011%. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps VIRTUAL-USD	0.7249	0.0100	pay 0.0013% / 1h	17m 38s	$52K	$993K	5x
Short	ApeX Omni VIRTUALUSDT	0.7261	0.0100	get 0.0013% / 1h	17m 38s	$41K	$239K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Polymarket Perps. 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 Polymarket PerpsbpFee ApeX OmnibpOrdersPrice spread, now +0.171%Rate

Funding earned: $0
Price spread: +0.171% → +0.011%: $15.96
Slippage, 4 orders: −$26.89
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$28.94
Costs to cover: 0.449%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 40 min ago; ApeX Omni: live order book, 44 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 Polymarket Perps live order book, 40 min ago	3.27 bp	7.3 bp −$7	7.7 bp −$77	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 44 min ago	6.94 bp	15.1 bp −$15	112.9 bp −$1,129	doesn't fit	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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0303%	1h	0.7233	−0.215%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7239	−0.129%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0064%	1h	0.7236	−0.174%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	0.0000%	1h	0.7266	+0.246%	$11K	$37K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7236	−0.177%	$4K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.816%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7235	−0.188%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7238	−0.149%	$329K	$413K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7249	+0.010%	$8.9M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7240	−0.119%	$98K	$291K	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	0.7241	−0.099%	$71K	$42K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7240	−0.116%	$16.6M	$40.1M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7237	−0.160%	$16.8M	$18.0M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7240	−0.119%	$2.9M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7239	−0.132%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7242	−0.091%	$17.8M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7242	−0.091%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7243	−0.077%	$6.2M	$5.9M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7237	−0.160%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7241	−0.105%	$239K	$203K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7256	+0.104%	$540K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7258	+0.132%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7254	+0.075%	$641K	$868K	10x	as long as short
ApeX Omni VIRTUALUSDTshort	+0.0100%	1h	0.7261	+0.171%	$41K	$239K	50x
Polymarket Perps VIRTUAL-USDlong	+0.0100%	1h	0.7249	long leg	$52K	$993K	5x
SunX VIRTUAL-USDT	+0.0100%	4h	0.7241	−0.105%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7234	−0.208%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7236	−0.176%	$54K	$270K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7233	−0.221%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0300% / S −0.0228%	1h	0.7237	−0.156%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7244	−0.063%	$812K	$851K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7273	+0.337%	$190K	$79K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0903%	1h	0.7245	−0.045%	$605K	$661K	50x	as long as short