VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0487%/8h= +53.3% APRnext payment +$0.61 per $10,000 · paid last 24h +0.128%

Price spread now: Coinbase International against Injective+0.703%64s7-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 Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.209%−$21 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 +$15 a day on $10k at the current rate, and Coinbase International is 0.703% dearer against Injective than usual: you sell high and buy low: +$70 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 −0.209%, so the current rate has only just turned in your favour. The two prices were read 64 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.209% in total (about -10.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.61 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

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	51m 28s	$46	$88K	5.5x
Short	Coinbase International VIRTUAL-PERP-INTX	0.7167	0.0520	get 0.0065% / 1h	51m 28s	$201K	$94K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.703%Rate

Funding earned: $102.2
Price spread: +0.703% → 0.000%: $70.25
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $162.43
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Coinbase International: live order book, 54 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 Coinbase International live order book, 54 min ago	7.00 bp	29.0 bp −$29	562.8 bp −$5,628	doesn't fit	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 exchanges

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	−0.0172%	1h	0.7109	−0.112%	$25K	$40K	10x	as long as short
Phoenix VIRTUAL	−0.0146%	1h	0.7123	+0.081%	$11K	$32K	5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7099	−0.248%	$24	—	10x	as long as short
Lighter VIRTUAL	−0.0104%	1h	0.7102	−0.212%	$323K	$365K	5x	as long as short
ApeX Omni VIRTUALUSDT	−0.0054%	1h	0.7126	+0.126%	$40K	$234K	50x	as long as short
SoDEX VIRTUAL-USD	−0.0053%	1h	0.7108	−0.119%	$1K	$9K	5x	as long as short
Kraken Futures PF_VIRTUALUSD	−0.0010%	1h	0.7118	+0.016%	$563K	$745K	50x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0006%	1h	0.7112	−0.069%	$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	+0.0080%	4h	0.7108	−0.126%	$14K	$1.7M	10x	as long as short

Show all 33 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7108	−0.127%	$99K	$306K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7109	−0.112%	$70K	$39K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7103	−0.200%	$15.8M	$40.2M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7102	−0.211%	$16.7M	$18.3M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7102	−0.211%	$2.8M	$9.6M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7109	−0.112%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7106	−0.155%	$14.4M	$5.0M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7111	−0.084%	$3.4M	$4.5M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7107	−0.141%	$6.1M	$5.1M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7103	−0.197%	—	$7.7M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7113	−0.056%	$242K	$180K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7121	+0.051%	$675K	$550K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7122	+0.065%	$19K	$253K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7121	+0.056%	$636K	$1.6M	10x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7106	−0.155%	$35K	$1.0M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7115	−0.028%	$2K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7099	−0.258%	$53K	$337K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7109	−0.117%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0173%	1h	0.7115	−0.025%	$8.8M	$3.3M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0311% / S −0.0258%	1h	0.7112	−0.073%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7115	−0.028%	$771K	$903K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTXshort	+0.0520%	1h	0.7167	+0.703%	$201K	$94K	50x
01 Exchange VIRTUALUSD	+1.4080%	1h	0.7431	+4.412%	$2K	$393	10x	as long as short