Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.013%

Price spread now: Polymarket Perps against ApeX Omni−0.041%7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$440.436% of the position

Long on ApeX Omni Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.237%−$24 on $10k

Price spread, last 4 days (all we have)+0.134%+$13 · spread now −0.041%, 7d avg −0.010%

Together, before fees−0.102%−$10 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: Polymarket Perps is 0.031% cheaper against ApeX Omni than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni VIRTUALUSDT	0.7260	0.0100	pay 0.0013% / 1h	0m 42s	$41K	$234K	50x
Short	Polymarket Perps VIRTUAL-USD	0.7257	0.0100	get 0.0013% / 1h	0m 42s	$48K	$1.0M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against ApeX 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 ApeX OmnibpFee Polymarket PerpsbpOrdersPrice spread, now −0.041%Rate

Funding earned: $0
Price spread: −0.041% → −0.010%: −$3.14
Slippage, 4 orders: −$25.6
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$46.73
Costs to cover: 0.436%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 31 min ago; Polymarket Perps: live order book, 62 min ago.

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 ApeX Omni live order book, 31 min ago	7.04 bp	15.4 bp −$15	99.6 bp −$996	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 62 min ago	2.80 bp	6.8 bp −$7	11.9 bp −$119	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
Kraken Futures PF_VIRTUALUSD	−0.0222%	1h	0.7256	−0.053%	$520K	$722K	50x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7251	−0.129%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7258	−0.033%	$11K	$36K	5x	as long as short
Lighter VIRTUAL	−0.0024%	1h	0.7271	+0.147%	$332K	$406K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7252	−0.110%	$15K	$30K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0006%	1h	0.7254	−0.089%	$22K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.970%	$46	$88K	5.5x	as long as short
Variational Omni VIRTUAL	+0.0049%	4h	0.7249	−0.149%	$543K	$754K	—	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0083%	4h	0.7253	−0.096%	$15K	$1.9M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7270	+0.136%	$93K	$304K	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	0.7261	+0.018%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7267	+0.096%	$16.3M	$41.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7268	+0.110%	$16.8M	$18.8M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7268	+0.110%	$2.9M	$10.3M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7270	+0.138%	$1.6M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7264	+0.055%	$15.5M	$5.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7262	+0.028%	$3.4M	$4.6M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7272	+0.165%	$6.1M	$5.6M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7269	+0.124%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7258	−0.028%	$248K	$173K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7254	−0.081%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7256	−0.051%	$638K	$1.3M	10x	as long as short
ApeX Omni VIRTUALUSDTlong	+0.0100%	1h	0.7260	long leg	$41K	$234K	50x
Polymarket Perps VIRTUAL-USDshort	+0.0100%	1h	0.7257	−0.041%	$48K	$1.0M	5x
SunX VIRTUAL-USDT	+0.0100%	4h	0.7257	−0.041%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7252	−0.103%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7255	−0.073%	$54K	$308K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7251	−0.128%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0169%	1h	0.7280	+0.274%	$9.0M	$3.7M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0313% / S −0.0258%	1h	0.7252	−0.106%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7263	+0.041%	$780K	$1.1M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0512%	1h	0.7271	+0.152%	$203K	$101K	50x	as long as short
01 Exchange VIRTUALUSD	+0.6272%	1h	0.7394	+1.846%	$2K	$80	10x	as long as short