Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0252%/8h= +27.6% APRpaid last 24h +0.078%

Price spread now: Binance against 01 Exchange−0.038%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Binance is 0.038% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.038% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 12 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange VIRTUALUSD	0.7296	−0.0152	get 0.0019% / 1h	16m 05s	$2K	$131	10x
Short	Binance VIRTUALUSDT	0.7293	0.0100	get 0.0050% / 4h	16m 05s	$16.6M	$38.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against 01 Exchange. 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 01 ExchangebpFee BinancebpOrdersPrice spread, now −0.038%Rate

Funding earned: $52.92
Price spread: −0.038% → 0.000%: −$3.8
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: $32.12
Costs to cover: 0.170%
Break-even: 2.8 days

Slippage unknown: 01 Exchange: no order-book sample; Binance: live order book, 11 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Binance live order book, 11 min ago	0.69 bp	9.3 bp −$9	20.1 bp −$201	87.9 bp −$8,792	doesn't fit

01 Exchange: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0298%	1h	0.7297	+0.014%	$15K	$40K	10x	as long as short
01 Exchange VIRTUALUSDlong	−0.0152%	1h	0.7296	long leg	$2K	$131	10x
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7296	−0.001%	$24	—	10x	as long as short
Lighter VIRTUAL	−0.0072%	1h	0.7294	−0.033%	$331K	$416K	5x	as long as short
Phoenix VIRTUAL	−0.0066%	1h	0.7256	−0.543%	$11K	$40K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7301	+0.071%	$9K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.453%	$46	$88K	5.5x	as long as short
SoDEX VIRTUAL-USD	+0.0041%	1h	0.7297	+0.007%	$1K	$9K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0091%	4h	0.7295	−0.014%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7303	+0.091%	$201K	$102K	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	0.7304	+0.110%	$72K	$45K	5x	as long as short
Binance VIRTUALUSDTshort	+0.0100%	4h	0.7293	−0.038%	$16.6M	$38.8M	75x
Bybit VIRTUALUSDT	+0.0100%	4h	0.7300	+0.055%	$16.3M	$16.7M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7296	0.000%	$2.9M	$9.6M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7303	+0.096%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7298	+0.027%	$18.3M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7304	+0.110%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7303	+0.096%	$6.3M	$5.5M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7299	+0.041%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7301	+0.069%	$247K	$169K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7298	+0.027%	$544K	$888K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7272	−0.329%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7271	−0.343%	$646K	$915K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7272	−0.329%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7305	+0.121%	$38K	$993K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7294	−0.027%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7296	−0.005%	$54K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7297	+0.016%	$18K	$505	3x	as long as short
Hyperliquid VIRTUAL	+0.0116%	1h	0.7310	+0.197%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7300	+0.050%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7295	−0.014%	$825K	$850K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7311	+0.206%	$199K	$94K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0861%	1h	0.7313	+0.237%	$597K	$581K	50x	as long as short