Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: SunX against Bybit−0.315%7-day average +0.046% · you buy dearer than you sell

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

Long on Bybit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.106%+$11 on $10k

Price spread, last 3 days (all we have)+0.221%+$22 · spread now −0.315%, 7d avg +0.046%

Together, before fees+0.327%+$33 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: SunX is 0.361% cheaper against Bybit than usual: you would sell low and buy high, −$36 on $10k if it goes back to its 7-day average of +0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit VIRTUALUSDT	0.7293	0.0100	pay 0.0050% / 4h	26m 54s	$16.2M	$16.6M	50x
Short	SunX VIRTUAL-USDT	0.7270	0.0100	get 0.0050% / 4h	26m 54s	$2K	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.315%Rate

Funding earned: $0
Price spread: −0.315% → +0.046%: −$36.13
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SunX: 4 bp × 2 orders: −$8
Net: −$55.13
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 min ago; SunX: live order book, 7 min ago. 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 Bybit live order book, 2 min ago	1.37 bp	10.7 bp −$11	24.4 bp −$244	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	500.58 bp	doesn't fit	doesn't fit	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	−0.0437%	1h	0.7275	−0.247%	$15K	$40K	10x	as long as short
01 Exchange VIRTUALUSD	−0.0144%	1h	0.7277	−0.219%	$2K	$131	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7272	−0.283%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0066%	1h	0.7304	+0.152%	$11K	$40K	5x	as long as short
Lighter VIRTUAL	−0.0048%	1h	0.7285	−0.110%	$331K	$415K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7279	−0.189%	$8K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.413%	$46	$88K	5.5x	as long as short
SoDEX VIRTUAL-USD	+0.0050%	1h	0.7276	−0.233%	$1K	$9K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0092%	4h	0.7276	−0.233%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7297	+0.055%	$200K	$102K	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	0.7282	−0.150%	$73K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7294	+0.015%	$16.6M	$38.6M	75x	as long as short
Bybit VIRTUALUSDTlong	+0.0100%	4h	0.7293	long leg	$16.2M	$16.6M	50x
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7294	+0.014%	$2.9M	$9.5M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7295	+0.027%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7297	+0.055%	$18.1M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7298	+0.069%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7305	+0.165%	$6.3M	$5.5M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7294	+0.014%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7293	0.000%	$247K	$169K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7306	+0.174%	$537K	$878K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7291	−0.021%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7300	+0.096%	$648K	$915K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7291	−0.027%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7279	−0.186%	$36K	$955K	5x	as long as short
SunX VIRTUAL-USDTshort	+0.0100%	4h	0.7270	−0.315%	$2K	$1.3M	20x
Extended VIRTUAL-USD	+0.0104%	1h	0.7294	+0.009%	$54K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7276	−0.232%	$18K	$505	3x	as long as short
Hyperliquid VIRTUAL	+0.0107%	1h	0.7306	+0.173%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7278	−0.211%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7281	−0.165%	$821K	$846K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7339	+0.631%	$199K	$94K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0864%	1h	0.7289	−0.052%	$596K	$581K	50x	as long as short