Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against BingX+0.014%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$380.376% of the position

Long on BingX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.057%−$6 on $10k

Price spread, last 7 days−0.022%−$2 · spread now +0.014%, 7d avg −0.004%

Together, before fees−0.079%−$8 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX VIRTUAL-USDT	0.7125	0.0100	pay 0.0050% / 4h	2h 19m	—	$7.9M	—
Short	Binance VIRTUALUSDT	0.7126	0.0100	get 0.0050% / 4h	2h 19m	$16.0M	$42.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against BingX. 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 BingXbpFee BinancebpOrdersPrice spread, now +0.014%Rate

Funding earned: $0
Price spread: +0.014% → −0.004%: $1.81
Slippage, 4 orders: −$17.65
Fee BingX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$35.84
Costs to cover: 0.376%
Break-even: never at this rate

Slippage from BingX: live order book, 4 min ago; Binance: live order book, 8 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 BingX live order book, 4 min ago	2.13 bp	9.6 bp −$10	12.3 bp −$123	25.2 bp −$2,518	75.7 bp −$37.9K
Sell Binance live order book, 8 min ago	0.71 bp	10.8 bp −$11	24.7 bp −$247	89.3 bp −$8,934	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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7127	+0.029%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0136%	1h	0.7123	−0.028%	$2K	$106	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7054	−0.991%	$11K	$36K	5x	as long as short
Lighter VIRTUAL	−0.0048%	1h	0.7123	−0.025%	$324K	$403K	5x	as long as short
Bybit VIRTUALUSDT	−0.0004%	4h	0.7121	−0.056%	$16.3M	$19.0M	50x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7129	+0.063%	$14K	—	150x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	+0.0030%	1h	0.7133	+0.112%	$15K	$40K	10x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.112%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0075%	4h	0.7129	+0.056%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7136	+0.156%	$8.7M	$4.1M	5x	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	0.7128	+0.040%	$93K	$302K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7126	+0.013%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDTshort	+0.0100%	4h	0.7126	+0.014%	$16.0M	$42.0M	75x
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7124	−0.014%	$2.8M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7127	+0.028%	$1.5M	$3.4M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7116	−0.126%	$15.4M	$4.9M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7127	+0.028%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7126	+0.014%	$6.0M	$5.9M	25x	as long as short
BingX VIRTUAL-USDTlong	+0.0100%	4h	0.7125	long leg	—	$7.9M	—
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7131	+0.084%	$239K	$206K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7079	−0.649%	$527K	$914K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7082	−0.604%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7055	−0.976%	$629K	$1.0M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7042	−1.165%	$40K	$238K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7130	+0.067%	$52K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7133	+0.112%	$2K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7129	+0.058%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7120	−0.065%	$53K	$303K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7126	+0.018%	$18K	—	3x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0280%	1h	0.7132	+0.105%	$526K	$761K	50x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0312% / S −0.0258%	1h	0.7129	+0.056%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7122	−0.042%	$782K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0432%	1h	0.7136	+0.154%	$199K	$101K	50x	as long as short