Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.018%

Price spread now: BingX against Variational Omni+0.178%7-day average +0.014% · you sell dearer than you buy

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

Long on Variational Omni Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.049%+$5 on $10k

Price spread, last 3 days (all we have)−0.365%−$36 · spread now +0.178%, 7d avg +0.014%

Together, before fees−0.316%+ Points / potential airdropVariational Omni: Active · farm board−$32 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 0.164% dearer against Variational Omni than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni VIRTUAL	0.7153	0.0100	pay 0.0050% / 4h	1h 57m	$525K	$878K	—
Short	BingX VIRTUAL-USDT	0.7166	0.0100	get 0.0050% / 4h	1h 57m	—	$8.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Variational Omni. 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 Variational OmnibpFee BingXbpOrdersPrice spread, now +0.178%Rate

Funding earned: $0
Price spread: +0.178% → +0.014%: $16.4
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: $6.4
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 26 min ago; BingX: live order book, 10 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 Variational Omni RFQ quote, 26 min ago	4.18 bp	doesn't fit	26.5 bp −$265	doesn't fit	doesn't fit
Sell BingX live order book, 10 min ago	2.09 bp	7.1 bp −$7	11.2 bp −$112	18.7 bp −$1,868	62.0 bp −$31.0K

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
Lighter VIRTUAL	−0.0200%	1h	0.7165	+0.163%	$326K	$414K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0169%	1h	0.7154	+0.010%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7157	+0.046%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0120%	1h	0.7163	+0.136%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7158	+0.064%	$11K	$39K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7162	+0.121%	$12K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.507%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7153	−0.003%	$14K	$1.5M	10x	as long as short
SoDEX VIRTUAL-USD	+0.0098%	1h	0.7153	−0.006%	$1K	$9K	5x	as long as short
Variational Omni VIRTUALlong	+0.0100%	4h	0.7153	long leg	$525K	$878K	—

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VIRTUAL	+0.0100%	1h	0.7177	+0.325%	$8.7M	$3.7M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7163	+0.138%	$194K	$83K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7169	+0.227%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7169	+0.220%	$16.4M	$37.4M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7164	+0.150%	$15.4M	$15.6M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7164	+0.150%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7169	+0.220%	$1.5M	$2.8M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7168	+0.206%	$17.2M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7168	+0.206%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7170	+0.234%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDTshort	+0.0100%	4h	0.7166	+0.178%	—	$8.1M	—
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7160	+0.094%	$235K	$159K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7157	+0.058%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7157	+0.052%	$634K	$965K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7161	+0.108%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7161	+0.111%	$27K	$815K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7154	+0.010%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7162	+0.128%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7155	+0.023%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0297% / S −0.0228%	1h	0.7161	+0.109%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7168	+0.206%	$815K	$792K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7176	+0.318%	$195K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0512%	1h	0.7161	+0.112%	$536K	$544K	50x	as long as short