Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.002%

Price spread now: ApeX Omni against Bybit−0.055%99s7-day average +0.070% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$510.511% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.527%+$53 · spread now −0.055%, 7d avg +0.070%

Together, before fees+0.529%+$53 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: ApeX Omni is 0.125% cheaper against Bybit than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.070%. The two prices were read 99 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit VIRTUALUSDT	0.7264	0.0100	pay 0.0050% / 4h	2h 59m	$16.8M	$18.8M	50x
Short	ApeX Omni VIRTUALUSDT	0.7260	0.0100	get 0.0013% / 1h	59m 56s	$41K	$234K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now −0.055%Rate

Funding earned: $0
Price spread: −0.055% → +0.070%: −$12.47
Slippage, 4 orders: −$30.06
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$63.53
Costs to cover: 0.511%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; ApeX Omni: live order book, 31 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 Bybit live order book, 4 min ago	0.69 bp	10.6 bp −$11	23.2 bp −$232	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 31 min ago	7.04 bp	14.6 bp −$15	106.6 bp −$1,066	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	−0.0221%	1h	0.7279	+0.205%	$521K	$724K	50x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7251	−0.184%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7258	−0.088%	$11K	$36K	5x	as long as short
Lighter VIRTUAL	−0.0024%	1h	0.7268	+0.061%	$331K	$406K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7279	+0.206%	$15K	$30K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0006%	1h	0.7279	+0.206%	$22K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.024%	$46	$88K	5.5x	as long as short
Variational Omni VIRTUAL	+0.0049%	4h	0.7249	−0.204%	$543K	$754K	—	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0083%	4h	0.7280	+0.220%	$15K	$1.9M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7271	+0.098%	$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	0.7276	+0.158%	$72K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7264	−0.007%	$16.3M	$41.5M	75x	as long as short
Bybit VIRTUALUSDTlong	+0.0100%	4h	0.7264	long leg	$16.8M	$18.8M	50x
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7265	+0.014%	$2.9M	$10.3M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7271	+0.096%	$1.6M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7265	+0.014%	$15.5M	$5.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7273	+0.124%	$3.4M	$4.6M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7271	+0.096%	$6.1M	$5.6M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7265	+0.014%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7276	+0.165%	$249K	$174K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7254	−0.136%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7256	−0.106%	$638K	$1.3M	10x	as long as short
ApeX Omni VIRTUALUSDTshort	+0.0100%	1h	0.7260	−0.055%	$41K	$234K	50x
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7284	+0.275%	$48K	$1.0M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7278	+0.193%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7277	+0.176%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7264	−0.001%	$54K	$308K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7276	+0.170%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0168%	1h	0.7280	+0.222%	$9.0M	$3.7M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0313% / S −0.0258%	1h	0.7252	−0.161%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7263	−0.014%	$780K	$1.1M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0512%	1h	0.7289	+0.344%	$203K	$101K	50x	as long as short
01 Exchange VIRTUALUSD	+0.6272%	1h	0.7411	+2.024%	$2K	$80	10x	as long as short