Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0340%/8h= +37.2% APRpaid last 24h +0.077%

Price spread now: Coinbase International against SunX+0.028%7-day average +0.265% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.353%+$35 on $10k

Price spread, last 4 days (all we have)+0.138%+$14 · spread now +0.028%, 7d avg +0.265%

Together, before fees+0.491%+$49 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.237% cheaper against SunX than usual: you would sell low and buy high (spread +0.028% now, against its 7-day average of +0.265%). If the spread goes back, that is −$24 on $10k: about 2.3 days of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.353% in total) that is about 4.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX VIRTUAL-USDT	0.7168	0.0100	pay 0.0050% / 4h	1h 45m	$2K	$1.3M	20x
Short	Coinbase International VIRTUAL-PERP-INTX	0.7170	0.0440	get 0.0055% / 1h	45m 45s	$187K	$82K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.028%Rate

Funding earned: $71.4
Price spread: +0.028% → +0.265%: −$23.72
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $29.68
Costs to cover: 0.180%
Break-even: 4.1 days

Slippage unknown: SunX: live order book, 9 min ago; Coinbase International: live order book, 17 min ago. Net counts fees only.

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 SunX live order book, 9 min ago	500.31 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 17 min ago	6.93 bp	108.2 bp −$108	847.9 bp −$8,479	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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7162	−0.089%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0064%	1h	0.7165	−0.042%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	0.0000%	1h	0.7188	+0.283%	$11K	$37K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7167	−0.014%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7166	−0.032%	$4K	—	150x	as long as short
Lighter VIRTUAL	+0.0016%	1h	0.7163	−0.070%	$325K	$413K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.711%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7166	−0.028%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7167	−0.008%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7162	−0.079%	$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	0.7168	−0.002%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7167	−0.014%	$16.4M	$40.7M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7170	+0.028%	$16.5M	$18.2M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7173	+0.070%	$2.8M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7171	+0.042%	$1.4M	$3.2M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7164	−0.056%	$17.2M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7162	−0.084%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7174	+0.084%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7173	+0.070%	—	$8.0M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7165	−0.042%	$239K	$160K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7162	−0.080%	$532K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7173	+0.070%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7200	+0.450%	$638K	$858K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7179	+0.153%	$40K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7172	+0.056%	$51K	$999K	5x	as long as short
SunX VIRTUAL-USDTlong	+0.0100%	4h	0.7168	long leg	$2K	$1.3M	20x
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7165	−0.049%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7173	+0.075%	$54K	$277K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7164	−0.050%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7165	−0.039%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7155	−0.181%	—	$841K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTXshort	+0.0440%	1h	0.7170	+0.028%	$187K	$82K	50x
Kraken Futures PF_VIRTUALUSD	+0.0912%	1h	0.7175	+0.100%	$596K	$688K	50x	as long as short