VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0348%/8h= +38.1% APRnext payment +$0.43 per $10,000 · paid last 24h +0.086%

Price spread now: Coinbase International against Polymarket Perps+0.700%7-day average +0.238% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$1211.208% of the position

Long on Polymarket Perps Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.658%+$66 on $10k

Price spread, last 3 days (all we have)−0.480%−$48 · spread now +0.700%, 7d avg +0.238%

Together, before fees+0.178%+$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Coinbase International is 0.462% dearer against Polymarket Perps than usual: you sell high and buy low: +$46 more if the spread goes back to its 7-day average of +0.238%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps VIRTUAL-USD	0.7315	0.0100	pay 0.0013% / 1h	46m 38s	$51K	$1.1M	5x
Short	Coinbase International VIRTUAL-PERP-INTX	0.7366	0.0448	get 0.0056% / 1h	46m 38s	$200K	$94K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.700%Rate

Funding earned: $73.08
Price spread: +0.700% → +0.238%: $46.24
Slippage, 4 orders: −$102.81
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$1.49
Costs to cover: 1.208%
Break-even: 7.1 days

Slippage from Polymarket Perps: live order book, 2 min ago; Coinbase International: live order book, 26 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, 2 min ago	4.30 bp	8.7 bp −$9	8.8 bp −$88	doesn't fit	doesn't fit
Sell Coinbase International live order book, 26 min ago	6.86 bp	52.5 bp −$52	889.1 bp −$8,891	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	−0.0160%	1h	0.7308	−0.093%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7306	−0.125%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0109%	1h	0.7308	−0.087%	$11K	$40K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0088%	1h	0.7302	−0.175%	$2K	$131	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7314	−0.016%	$9K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.704%	$46	$88K	5.5x	as long as short
Lighter VIRTUAL	+0.0064%	1h	0.7302	−0.171%	$332K	$414K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0088%	4h	0.7313	−0.025%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7309	−0.073%	$200K	$105K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7306	−0.117%	$72K	$45K	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	0.7302	−0.178%	$16.8M	$39.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7302	−0.175%	$16.4M	$17.0M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7291	−0.325%	$2.9M	$9.6M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7305	−0.134%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7299	−0.216%	$18.5M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7310	−0.066%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7308	−0.093%	$6.3M	$5.7M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7305	−0.134%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7317	+0.030%	$248K	$170K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7306	−0.115%	$548K	$893K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7314	−0.005%	$19K	$259K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7322	+0.103%	$650K	$927K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7324	+0.126%	$40K	$243K	50x	as long as short
Polymarket Perps VIRTUAL-USDlong	+0.0100%	1h	0.7315	long leg	$51K	$1.1M	5x
SunX VIRTUAL-USDT	+0.0100%	4h	0.7311	−0.052%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7308	−0.086%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7301	−0.185%	$58K	$249K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7310	−0.065%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0129%	1h	0.7318	+0.045%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0300% / S −0.0228%	1h	0.7309	−0.073%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7317	+0.030%	$825K	$850K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTXshort	+0.0448%	1h	0.7366	+0.700%	$200K	$94K	50x
Kraken Futures PF_VIRTUALUSD	+0.0739%	1h	0.7321	+0.083%	$604K	$635K	50x	as long as short