Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.014%

Price spread now: Binance against Polymarket Perps+0.031%7-day average −0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$320.323% of the position

Long on Polymarket Perps Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.237%+$24 on $10k

Price spread, last 3 days (all we have)−0.405%−$41 · spread now +0.031%, 7d avg −0.032%

Together, before fees−0.169%−$17 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: Binance is 0.062% dearer against Polymarket Perps than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps VIRTUAL-USD	0.7192	0.0100	pay 0.0013% / 1h	18m 02s	$30K	$810K	5x
Short	Binance VIRTUALUSDT	0.7194	0.0100	get 0.0050% / 4h	2h 18m	$16.4M	$37.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.031%Rate

Funding earned: $0
Price spread: +0.031% → −0.032%: $6.23
Slippage, 4 orders: −$14.26
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$26.03
Costs to cover: 0.323%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 5 min ago; Binance: live order book, 9 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, 5 min ago	2.71 bp	7.0 bp −$7	8.5 bp −$85	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	0.70 bp	8.6 bp −$9	19.9 bp −$199	91.7 bp −$9,166	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
Injective VIRTUAL/USDC PERP	−0.0160%	1h	0.7117	−1.040%	$46	$88K	5.5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7187	−0.070%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7196	+0.058%	$11K	$45K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0096%	1h	0.7188	−0.053%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0028%	1h	0.7191	−0.011%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7191	−0.009%	$13K	—	150x	as long as short
Variational Omni VIRTUAL	+0.0068%	4h	0.7193	+0.018%	$528K	$878K	—	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0083%	4h	0.7189	−0.039%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7185	−0.099%	$327K	$391K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7197	+0.072%	$8.7M	$3.7M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7191	−0.008%	$195K	$82K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7191	−0.015%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDTshort	+0.0100%	4h	0.7194	+0.031%	$16.4M	$37.1M	75x
Bybit VIRTUALUSDT	+0.0100%	4h	0.7188	−0.053%	$15.6M	$15.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7194	+0.031%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7191	−0.011%	$1.5M	$2.9M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7193	+0.017%	$17.3M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7195	+0.044%	$3.1M	$3.9M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7194	+0.031%	$6.2M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7189	−0.039%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7191	−0.011%	$236K	$159K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7195	+0.044%	$19K	$256K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7182	−0.136%	$636K	$974K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7195	+0.044%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USDlong	+0.0100%	1h	0.7192	long leg	$30K	$810K	5x
SunX VIRTUAL-USDT	+0.0100%	4h	0.7190	−0.025%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7188	−0.046%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7194	+0.026%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7189	−0.043%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0298% / S −0.0228%	1h	0.7191	−0.008%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7194	+0.031%	$816K	$804K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7203	+0.156%	$196K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0523%	1h	0.7201	+0.122%	$538K	$543K	50x	as long as short