Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.086%

Price spread now: BloFin against Polymarket Perps−0.079%45s7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs+$31as 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−$330.331% of the position

Long on Polymarket Perps Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.638%+$64 on $10k

Price spread, last 3 days (all we have)−0.010%−$1 · spread now −0.079%, 7d avg −0.019%

Together, before fees+0.628%+$63 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.060% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.079% now, against its 7-day average of −0.019%). If the spread goes back, that is −$6 on $10k: about 20 hours of funding at the current rate (+$7 a day). The two prices were read 45 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	0.7334	0.0100	pay 0.0013% / 1h	32m 27s	$37K	$955K	5x
Short	BloFin VIRTUAL-USDT	0.7328	0.0340	get 0.0170% / 4h	32m 27s	$815K	$851K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.079%Rate

Funding earned: $50.4
Price spread: −0.079% → −0.019%: −$6.01
Slippage, 4 orders: −$13.07
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: $11.32
Costs to cover: 0.331%
Break-even: 5.4 days

Slippage from Polymarket Perps: live order book, 46 min ago; BloFin: 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, 46 min ago	3.48 bp	7.5 bp −$8	7.7 bp −$77	doesn't fit	doesn't fit
Sell BloFin live order book, 44 min ago	1.39 bp	9.4 bp −$9	19.0 bp −$190	66.7 bp −$6,665	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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7321	−0.169%	$25	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0136%	1h	0.7329	−0.065%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0066%	1h	0.7309	−0.331%	$11K	$40K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7336	+0.030%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7328	−0.079%	$9K	—	150x	as long as short
Lighter VIRTUAL	+0.0024%	1h	0.7322	−0.165%	$333K	$415K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.956%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0093%	4h	0.7324	−0.134%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7330	−0.047%	$201K	$101K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7329	−0.071%	$73K	$44K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VIRTUALUSDT	+0.0100%	4h	0.7325	−0.117%	$16.7M	$38.4M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7324	−0.134%	$16.3M	$16.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7321	−0.175%	$2.9M	$9.5M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7328	−0.079%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7324	−0.134%	$18.2M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7329	−0.065%	$4.4M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7328	−0.079%	$6.3M	$5.5M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7326	−0.106%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7336	+0.030%	$248K	$169K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7305	−0.397%	$535K	$878K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7295	−0.536%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7305	−0.393%	$649K	$915K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7322	−0.161%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USDlong	+0.0100%	1h	0.7334	long leg	$37K	$955K	5x
SunX VIRTUAL-USDT	+0.0100%	4h	0.7316	−0.243%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7331	−0.038%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7328	−0.080%	$54K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7318	−0.220%	$18K	$505	3x	as long as short
Hyperliquid VIRTUAL	+0.0127%	1h	0.7336	+0.029%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0300% / S −0.0228%	1h	0.7326	−0.105%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDTshort	+0.0340%	4h	0.7328	−0.079%	$815K	$851K	75x
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7339	+0.071%	$199K	$97K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0858%	1h	0.7346	+0.162%	$600K	$582K	50x	as long as short