Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0307%/8h= +33.6% APRpaid last 24h +0.097%

Price spread now: BloFin against Injective+0.534%7-day average — · you sell dearer than you buy

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

Long on Injective Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.342%−$34 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and BloFin is 0.534% dearer against Injective than usual: you sell high and buy low: +$53 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.342%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective VIRTUAL/USDC PERP	0.7117	0.0033	pay 0.0004% / 1h	45m 51s	$46	$88K	5.5x
Short	BloFin VIRTUAL-USDT	0.7155	0.0340	get 0.0170% / 4h	3h 45m	$784K	$1.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Injective. 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 InjectivebpFee BloFinbpOrdersPrice spread, now +0.534%Rate

Funding earned: $64.4
Price spread: +0.534% → 0.000%: $53.39
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: $105.77
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; BloFin: live order book, 1 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 Injective no order-book sample	—	—	—	—	—
Sell BloFin live order book, 1 min ago	0.70 bp	15.4 bp −$15	24.0 bp −$240	64.4 bp −$6,437	doesn't fit

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
Kraken Futures PF_VIRTUALUSD	−0.0225%	1h	0.7163	+0.650%	$515K	$746K	50x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0169%	1h	0.7156	+0.548%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7154	+0.522%	$24	—	10x	as long as short
Lighter VIRTUAL	−0.0112%	1h	0.7154	+0.520%	$323K	$400K	5x	as long as short
Variational Omni VIRTUAL	−0.0036%	4h	0.7152	+0.496%	$536K	$824K	—	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7149	+0.452%	$11K	$36K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0006%	1h	0.7160	+0.598%	$22K	—	150x	as long as short
Injective VIRTUAL/USDC PERPlong	+0.0033%	1h	0.7117	long leg	$46	$88K	5.5x
Orderly PERP_VIRTUAL_USDC	+0.0073%	4h	0.7161	+0.618%	$15K	$1.8M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7162	+0.636%	$93K	$302K	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	0.7161	+0.618%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7156	+0.554%	$16.1M	$42.0M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7155	+0.534%	$16.3M	$18.8M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7156	+0.548%	$2.9M	$10.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7163	+0.646%	$1.5M	$3.2M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7156	+0.548%	$15.6M	$5.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7161	+0.618%	$3.3M	$4.5M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7161	+0.618%	$6.0M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7158	+0.576%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7162	+0.632%	$237K	$175K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7149	+0.444%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7151	+0.477%	$629K	$1.2M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7150	+0.464%	$40K	$234K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7160	+0.611%	$47K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7154	+0.520%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7156	+0.541%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7156	+0.554%	$55K	$310K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7155	+0.538%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0226%	1h	0.7166	+0.691%	$8.8M	$3.8M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0313% / S −0.0258%	1h	0.7160	+0.606%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDTshort	+0.0340%	4h	0.7155	+0.534%	$784K	$1.0M	75x
Coinbase International VIRTUAL-PERP-INTX	+0.0512%	1h	0.7168	+0.717%	$200K	$101K	50x	as long as short
01 Exchange VIRTUALUSD	+0.6280%	1h	0.7294	+2.487%	$2K	$106	10x	as long as short