Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0164%/8h= +18.0% APRpaid last 24h +0.029%

Price spread now: SunX against Lighter+0.018%7-day average +0.023% · you sell dearer than you buy

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

Long on Lighter Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.331%+$33 on $10k

Price spread, last 4 days (all we have)−0.057%−$6 · spread now +0.018%, 7d avg +0.023%

Together, before fees+0.275%+ Points / potential airdropLighter: Season 3 · farm board+$27 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.023%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter VIRTUAL	0.7128	−0.0064	get 0.0008% / 1h	19m 07s	$322K	$403K	5x
Short	SunX VIRTUAL-USDT	0.7129	0.0100	get 0.0050% / 4h	19m 07s	$1K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Lighter. 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 LighterbpFee SunXbpOrdersPrice spread, now +0.018%Rate

Funding earned: $34.44
Price spread: +0.018% → +0.023%: −$0.48
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: $25.96
Costs to cover: 0.080%
Break-even: 1.7 days

Slippage unknown: Lighter: live order book, 10 min ago; SunX: live order book, 5 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 Lighter live order book, 10 min ago	5.20 bp	6.1 bp −$6	53.9 bp −$539	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	509.57 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
Kraken Futures PF_VIRTUALUSD	−0.0337%	1h	0.7140	+0.170%	$518K	$741K	50x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7134	+0.087%	$24	—	10x	as long as short
Variational Omni VIRTUAL	−0.0104%	4h	0.7100	−0.385%	$532K	$837K	—	as long as short
01 Exchange VIRTUALUSD	−0.0096%	1h	0.7136	+0.116%	$2K	$106	10x	as long as short
Phoenix VIRTUAL	−0.0067%	1h	0.7113	−0.213%	$11K	$36K	5x	as long as short
Lighter VIRTUALlong	−0.0064%	1h	0.7128	long leg	$322K	$403K	5x
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0006%	1h	0.7135	+0.097%	$22K	—	150x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	+0.0030%	1h	0.7136	+0.116%	$15K	$40K	10x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.150%	$46	$88K	5.5x	as long as short
Bybit VIRTUALUSDT	+0.0056%	4h	0.7129	+0.018%	$16.2M	$18.8M	50x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_VIRTUAL_USDC	+0.0073%	4h	0.7135	+0.102%	$16K	$1.7M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7134	+0.094%	$92K	$303K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7130	+0.026%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7134	+0.094%	$16.1M	$42.1M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7136	+0.116%	$2.9M	$10.0M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7135	+0.102%	$1.5M	$3.4M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7131	+0.046%	$15.6M	$5.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7134	+0.088%	$3.0M	$4.5M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7133	+0.074%	$6.0M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7134	+0.088%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7140	+0.173%	$236K	$175K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7105	−0.322%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7106	−0.299%	$633K	$1.1M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7110	−0.248%	$40K	$235K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7133	+0.072%	$45K	$1.1M	5x	as long as short
SunX VIRTUAL-USDTshort	+0.0100%	4h	0.7129	+0.018%	$1K	$1.4M	20x
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7134	+0.081%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7133	+0.073%	$53K	$304K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7135	+0.104%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0302%	1h	0.7147	+0.265%	$8.8M	$3.8M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0313% / S −0.0258%	1h	0.7133	+0.074%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7131	+0.046%	$786K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0480%	1h	0.7170	+0.593%	$200K	$100K	50x	as long as short