Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.014%

Price spread now: Polymarket Perps against BingX+0.149%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$310.306% of the position

Long on BingX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.294%−$29 on $10k

Price spread, last 3 days (all we have)+0.118%+$12 · spread now +0.149%, 7d avg +0.032%

Together, before fees−0.176%−$18 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 0.117% dearer against BingX than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX VIRTUAL-USDT	0.7253	0.0100	pay 0.0050% / 4h	52m 19s	—	$8.1M	—
Short	Polymarket Perps VIRTUAL-USD	0.7264	0.0100	get 0.0013% / 1h	52m 19s	$32K	$943K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.149%Rate

Funding earned: $0
Price spread: +0.149% → +0.032%: $11.74
Slippage, 4 orders: −$12.55
Fee BingX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$18.81
Costs to cover: 0.306%
Break-even: never at this rate

Slippage from BingX: live order book, 1 min ago; Polymarket Perps: live order book, 26 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, 1 min ago	1.38 bp	6.4 bp −$6	9.8 bp −$98	19.5 bp −$1,948	75.2 bp −$37.6K
Sell Polymarket Perps live order book, 26 min ago	3.48 bp	7.6 bp −$8	7.7 bp −$77	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	−0.0163%	1h	0.7253	0.000%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7252	−0.016%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0066%	1h	0.7251	−0.022%	$11K	$40K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0064%	1h	0.7257	+0.055%	$2K	$131	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7253	+0.003%	$13K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.875%	$46	$88K	5.5x	as long as short
Lighter VIRTUAL	+0.0072%	1h	0.7254	+0.010%	$330K	$413K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0092%	4h	0.7253	0.000%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7264	+0.150%	$191K	$95K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7261	+0.109%	$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	0.7252	−0.014%	$16.5M	$38.0M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7250	−0.041%	$15.8M	$16.1M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7250	−0.041%	$2.8M	$9.3M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7261	+0.110%	$1.5M	$2.9M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7256	+0.041%	$17.7M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7262	+0.124%	$4.4M	$4.1M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7256	+0.041%	$6.2M	$5.4M	25x	as long as short
BingX VIRTUAL-USDTlong	+0.0100%	4h	0.7253	long leg	—	$8.1M	—
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7267	+0.193%	$241K	$159K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7246	−0.103%	$529K	$876K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7252	−0.015%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7253	0.000%	$642K	$918K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7241	−0.165%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USDshort	+0.0100%	1h	0.7264	+0.149%	$32K	$943K	5x
SunX VIRTUAL-USDT	+0.0100%	4h	0.7250	−0.041%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7254	+0.007%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7252	−0.013%	$54K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7252	−0.018%	$18K	$505	3x	as long as short
Hyperliquid VIRTUAL	+0.0280%	1h	0.7264	+0.152%	$8.9M	$3.8M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7256	+0.037%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7260	+0.097%	$810K	$821K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7278	+0.345%	$198K	$97K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0867%	1h	0.7266	+0.182%	$592K	$595K	50x	as long as short