Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Extended against Variational Omni−0.148%7-day average −0.021% · you buy dearer than you sell

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

Long on Variational Omni Short on Extended

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.057%+$6 on $10k

Price spread, last 3 days (all we have)+0.002%$0 · spread now −0.148%, 7d avg −0.021%

Together, before fees+0.058%+ Points / potential airdropVariational Omni: Active · Extended: Active · farm board+$6 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: Extended is 0.127% cheaper against Variational Omni than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni VIRTUAL	0.7310	0.0100	pay 0.0050% / 4h	37m 30s	$535K	$878K	—
Short	Extended VIRTUAL-USD	0.7299	0.0104	get 0.0013% / 1h	37m 30s	$54K	$246K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ExtendedbpOrdersPrice spread, now −0.148%Rate

Funding earned: $0.84
Price spread: −0.148% → −0.021%: −$12.72
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$16.88
Costs to cover: 0.050%
Break-even: 147.7 days

Slippage unknown: Variational Omni: RFQ quote, 42 min ago; Extended: live order book, 40 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, 42 min ago	5.55 bp	doesn't fit	20.8 bp −$208	doesn't fit	doesn't fit
Sell Extended live order book, 40 min ago	2.09 bp	13.7 bp −$14	158.5 bp −$1,585	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	−0.0435%	1h	0.7293	−0.227%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7298	−0.157%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0128%	1h	0.7298	−0.159%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0066%	1h	0.7311	+0.026%	$11K	$40K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7297	−0.169%	$9K	—	150x	as long as short
Lighter VIRTUAL	+0.0024%	1h	0.7294	−0.215%	$332K	$415K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.635%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0093%	4h	0.7294	−0.213%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7305	−0.063%	$200K	$101K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7303	−0.088%	$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	0.7297	−0.168%	$16.6M	$38.2M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7294	−0.213%	$16.2M	$16.4M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7299	−0.145%	$2.9M	$9.5M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7302	−0.104%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7297	−0.172%	$18.1M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7303	−0.090%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7305	−0.063%	$6.3M	$5.5M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7297	−0.172%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7303	−0.090%	$247K	$169K	10x	as long as short
Variational Omni VIRTUALlong	+0.0100%	4h	0.7310	long leg	$535K	$878K	—
edgeX VIRTUALUSDC	+0.0100%	4h	0.7312	+0.034%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7318	+0.119%	$650K	$915K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7308	−0.022%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7304	−0.081%	$36K	$954K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7287	−0.309%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7290	−0.271%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USDshort	+0.0104%	1h	0.7299	−0.148%	$54K	$246K	10x
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7293	−0.230%	$18K	$505	3x	as long as short
Hyperliquid VIRTUAL	+0.0160%	1h	0.7311	+0.014%	$9.1M	$3.9M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7295	−0.204%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7299	−0.145%	$811K	$849K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7331	+0.293%	$199K	$97K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0863%	1h	0.7303	−0.091%	$595K	$578K	50x	as long as short