Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0340%/8h= −37.2% APRpaid last 24h −0.074%

Price spread now: SunX against Coinbase International−0.194%7-day average −0.266% · you buy dearer than you sell

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

Long on Coinbase International Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.348%−$35 on $10k

Price spread, last 3 days (all we have)−0.104%−$10 · spread now −0.194%, 7d avg −0.266%

Together, before fees−0.453%−$45 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.072% dearer against Coinbase International than usual: you sell high and buy low (spread −0.194% now, against its 7-day average of −0.266%): +$7 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 7 days (−0.348% in total) that is about 35 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International VIRTUAL-PERP-INTX	0.7209	0.0440	pay 0.0055% / 1h	4m 23s	$188K	$86K	50x
Short	SunX VIRTUAL-USDT	0.7195	0.0100	get 0.0050% / 4h	2h 04m	$1K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Coinbase International. 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 Coinbase InternationalbpFee SunXbpOrdersPrice spread, now −0.194%Rate

Funding earned: −$71.4
Price spread: −0.194% → −0.266%: $7.21
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$82.19
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 63 min ago; SunX: live order book, 10 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 Coinbase International live order book, 63 min ago	6.75 bp	53.0 bp −$53	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 10 min ago	500.97 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

VIRTUAL on 32 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	0.7214	+0.073%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0064%	1h	0.7215	+0.083%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7197	−0.166%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7213	+0.061%	$4K	—	150x	as long as short
Phoenix VIRTUAL	+0.0011%	1h	0.7193	−0.225%	$11K	$46K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.276%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7197	−0.166%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7210	+0.019%	$327K	$415K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7223	+0.197%	$8.9M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7206	−0.048%	$98K	$291K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7212	+0.036%	$71K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7216	+0.099%	$16.5M	$41.4M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7216	+0.097%	$16.6M	$18.4M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7213	+0.055%	$2.9M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7214	+0.069%	$1.4M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7215	+0.083%	$17.4M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7214	+0.069%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7217	+0.111%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7214	+0.069%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7199	−0.139%	$243K	$167K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7185	−0.336%	$535K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7190	−0.265%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7173	−0.494%	$635K	$881K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7195	−0.194%	$41K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7222	+0.175%	$52K	$1.2M	5x	as long as short
SunX VIRTUAL-USDTshort	+0.0100%	4h	0.7195	−0.194%	$1K	$1.4M	20x
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7195	−0.190%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7211	+0.026%	$54K	$275K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7194	−0.211%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7213	+0.058%	$30K	—	100x	as long as short
Coinbase International VIRTUAL-PERP-INTXlong	+0.0440%	1h	0.7209	long leg	$188K	$86K	50x
Kraken Futures PF_VIRTUALUSD	+0.1024%	1h	0.7206	−0.042%	$594K	$670K	50x	as long as short