Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0270%/8h= −29.6% APRpaid last 24h −0.069%

Price spread now: Deribit against Binance+0.030%7-day average — · you sell dearer than you buy

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

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread pays, funding is against you. Deribit is 0.030% dearer against Binance than usual: you sell high and buy low (spread +0.030% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance VIRTUALUSDT	0.7137	0.0100	pay 0.0050% / 4h	2h 59m	$16.1M	$41.2M	75x
Short	Deribit VIRTUAL_USDC-PERPETUAL	0.7139	−0.0170	pay 0.0021% / 1h	59m 36s	$15K	$40K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Binance. 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 BinancebpFee DeribitbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$56.71
Price spread: +0.030% → 0.000%: $3.02
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$70.69
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 12 min ago; Deribit: no order-book sample. 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 Binance live order book, 12 min ago	0.70 bp	9.5 bp −$9	21.4 bp −$214	103.7 bp −$10.4K	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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
Lighter VIRTUAL	−0.0240%	1h	0.7133	−0.057%	$324K	$402K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0176%	1h	0.7133	−0.054%	$2K	$106	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUALshort	−0.0170%	1h	0.7139	+0.030%	$15K	$40K	10x
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7137	+0.004%	$24	—	10x	as long as short
SoDEX VIRTUAL-USD	−0.0052%	1h	0.7138	+0.012%	$1K	$9K	5x	as long as short
Phoenix VIRTUAL	−0.0022%	1h	0.7130	−0.090%	$11K	$37K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7141	+0.062%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.278%	$46	$88K	5.5x	as long as short
Bybit VIRTUALUSDT	+0.0077%	4h	0.7133	−0.054%	$16.5M	$18.7M	50x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0079%	4h	0.7138	+0.016%	$14K	$1.4M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7144	+0.101%	$93K	$299K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7141	+0.054%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDTlong	+0.0100%	4h	0.7137	long leg	$16.1M	$41.2M	75x
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7135	−0.026%	$2.8M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7141	+0.058%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7136	−0.012%	$15.9M	$4.8M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7139	+0.030%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7141	+0.058%	$6.1M	$5.9M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7137	+0.002%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7139	+0.030%	$239K	$210K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7131	−0.078%	$533K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7132	−0.073%	$19K	$262K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7135	−0.026%	$634K	$966K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7141	+0.058%	$40K	$238K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7141	+0.057%	$52K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7140	+0.044%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7136	−0.008%	$53K	$298K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7134	−0.043%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0315% / S −0.0264%	1h	0.7141	+0.065%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7134	−0.040%	$791K	$945K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7200	+0.885%	$201K	$104K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0490%	1h	0.7146	+0.125%	$583K	$675K	50x	as long as short
Hyperliquid VIRTUAL	+0.0663%	1h	0.7143	+0.092%	$8.8M	$4.1M	5x	as long as short