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% APRpaid last 24h +0.014%

Price spread now: BingX against Polymarket Perps−0.181%7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$330.326% of the position

Long on Polymarket Perps Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.293%+$29 on $10k

Price spread, last 7 days+0.144%+$14 · spread now −0.181%, 7d avg +0.011%

Together, before fees+0.436%+$44 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: BingX is 0.192% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps VIRTUAL-USD	0.7172	0.0100	pay 0.0013% / 1h	45m 55s	$51K	$999K	5x
Short	BingX VIRTUAL-USDT	0.7159	0.0100	get 0.0050% / 4h	1h 45m	—	$8.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.181%Rate

Funding earned: $0
Price spread: −0.181% → +0.011%: −$19.18
Slippage, 4 orders: −$14.64
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$51.82
Costs to cover: 0.326%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 12 min ago; BingX: live order book, 7 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, 12 min ago	3.27 bp	7.3 bp −$7	7.7 bp −$77	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	1.39 bp	8.4 bp −$8	12.8 bp −$128	31.2 bp −$3,116	100.6 bp −$50.3K

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	0.7162	−0.145%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0064%	1h	0.7165	−0.098%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	0.0000%	1h	0.7188	+0.227%	$11K	$37K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7167	−0.070%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7166	−0.088%	$4K	—	150x	as long as short
Lighter VIRTUAL	+0.0016%	1h	0.7157	−0.216%	$325K	$413K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.767%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7166	−0.084%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7170	−0.024%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7163	−0.128%	$97K	$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	0.7158	−0.195%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7157	−0.203%	$16.4M	$40.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7158	−0.195%	$16.5M	$18.2M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7163	−0.125%	$2.8M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7161	−0.153%	$1.4M	$3.2M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7157	−0.209%	$17.2M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7160	−0.167%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7159	−0.181%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDTshort	+0.0100%	4h	0.7159	−0.181%	—	$8.0M	—
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7165	−0.098%	$239K	$160K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7162	−0.136%	$532K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7173	+0.014%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7200	+0.394%	$638K	$858K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7179	+0.098%	$40K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USDlong	+0.0100%	1h	0.7172	long leg	$51K	$999K	5x
SunX VIRTUAL-USDT	+0.0100%	4h	0.7168	−0.056%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7165	−0.105%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7155	−0.240%	$54K	$277K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7164	−0.105%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7165	−0.095%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7155	−0.237%	—	$841K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7170	−0.028%	$187K	$82K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0912%	1h	0.7175	+0.044%	$596K	$688K	50x	as long as short