Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0426%/8hpaid last 24h −0.095%

Price spread now: Injective against BloFin−0.100%7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.847%+$85 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Injective is 0.100% cheaper against BloFin than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.847%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin VIRTUAL-USDT	0.6999	0.0340	pay 0.0170% / 4h	48m 09s	$817K	$742K	75x
Short	Injective VIRTUAL/USDC PERP	0.6992	−0.0086	pay 0.0011% / 1h	48m 09s	$45	$28K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. 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 BloFinbpFee InjectivebpOrdersPrice spread, now −0.100%Rate

Funding earned: −$89.42
Price spread: −0.100% → 0.000%: −$10
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$111.44
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 3 min ago; Injective: 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 BloFin live order book, 3 min ago	3.57 bp	11.2 bp −$11	19.8 bp −$198	52.2 bp −$5,217	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.0178%	1h	0.6999	0.000%	$15K	$40K	10x	as long as short
Variational Omni VIRTUAL	−0.0142%	4h	0.7002	+0.049%	$527K	$847K	—	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.6995	−0.056%	$23	—	10x	as long as short
Lighter VIRTUAL	−0.0104%	1h	0.6997	−0.031%	$318K	$388K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0088%	1h	0.6995	−0.057%	$2K	$131	10x	as long as short
Injective VIRTUAL/USDC PERPshort	−0.0086%	1h	0.6992	−0.100%	$45	$28K	5.5x
Phoenix VIRTUAL	−0.0080%	1h	0.7013	+0.197%	$11K	$45K	5x	as long as short
Bybit VIRTUALUSDT	−0.0069%	4h	0.6998	−0.014%	$15.2M	$15.3M	50x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7001	+0.024%	$12K	—	150x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0065%	4h	0.6998	−0.014%	$14K	$1.5M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VIRTUAL	+0.0100%	1h	0.7007	+0.109%	$8.6M	$3.6M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7000	+0.014%	$187K	$77K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7000	+0.018%	$72K	$40K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7001	+0.029%	$16.0M	$35.9M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7000	+0.014%	$2.7M	$9.3M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.6996	−0.043%	$1.4M	$2.9M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.6999	0.000%	$16.2M	$3.8M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7002	+0.043%	$3.0M	$4.1M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7004	+0.071%	$5.9M	$5.2M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.6996	−0.043%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7001	+0.029%	$230K	$165K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7005	+0.082%	$18K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7005	+0.086%	$624K	$901K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7006	+0.100%	$40K	$241K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.6999	−0.001%	$33K	$764K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.6999	0.000%	$2K	$1.2M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.6996	−0.050%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.6995	−0.054%	$55K	$243K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.6997	−0.028%	$17K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0296% / S −0.0228%	1h	0.7000	+0.013%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDTlong	+0.0340%	4h	0.6999	long leg	$817K	$742K	75x
Kraken Futures PF_VIRTUALUSD	+0.0390%	1h	0.7007	+0.118%	$509K	$493K	50x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7021	+0.314%	$191K	$105K	50x	as long as short