Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.020%

Price spread now: Lighter against SunX−0.040%7-day average −0.022% · you buy dearer than you sell

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

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.360%−$36 on $10k

Price spread, last 3 days (all we have)+0.095%+$10 · spread now −0.040%, 7d avg −0.022%

Together, before fees−0.264%+ Points / potential airdropLighter: Season 3 · farm board−$26 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX VIRTUAL-USDT	0.7289	0.0100	pay 0.0050% / 4h	3h 21m	$1K	$1.3M	20x
Short	Lighter VIRTUAL	0.7286	0.0096	get 0.0012% / 1h	21m 00s	$331K	$417K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.040%Rate

Funding earned: −$0.84
Price spread: −0.040% → −0.022%: −$1.79
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$10.63
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 3 min ago; Lighter: live order book, 44 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, 3 min ago	500.45 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 44 min ago	4.93 bp	9.5 bp −$10	69.7 bp −$697	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	0.7284	−0.070%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0109%	1h	0.7329	+0.543%	$12K	$40K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0048%	1h	0.7283	−0.082%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0024%	1h	0.7289	0.000%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7290	+0.020%	$4K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.360%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7288	−0.014%	$14K	$1.5M	10x	as long as short
Lighter VIRTUALshort	+0.0096%	1h	0.7286	−0.040%	$331K	$417K	5x
Aster VIRTUALUSDT	+0.0100%	4h	0.7297	+0.105%	$199K	$159K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7292	+0.043%	$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	0.7289	0.000%	$16.9M	$39.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7288	−0.014%	$16.6M	$17.1M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7292	+0.041%	$2.9M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7289	0.000%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7285	−0.055%	$18.3M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7291	+0.027%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7298	+0.123%	$6.3M	$5.7M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7287	−0.027%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7290	+0.014%	$247K	$164K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7286	−0.037%	$545K	$885K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7301	+0.169%	$19K	$259K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7328	+0.534%	$651K	$889K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7302	+0.178%	$41K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7291	+0.022%	$48K	$1.1M	5x	as long as short
SunX VIRTUAL-USDTlong	+0.0100%	4h	0.7289	long leg	$1K	$1.3M	20x
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7291	+0.034%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7296	+0.090%	$55K	$289K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7282	−0.095%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0203%	1h	0.7298	+0.125%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0300% / S −0.0228%	1h	0.7289	+0.006%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7286	−0.041%	$827K	$839K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7313	+0.329%	$198K	$92K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0741%	1h	0.7304	+0.207%	$605K	$644K	50x	as long as short