VIRTUAL

Alert

Funding spread now, next payment 16:00 UTC+0.0190%/8h

paid, last 24h+0.071%paid, last 5 days+0.324%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix VIRTUAL	0.7092	−0.0090	get 0.0011% / 1h	31m 23s	$11K	$46K	5x
Short	Bybit VIRTUALUSDT	0.7117	0.0100	get 0.0050% / 4h	3h 31m	$15.7M	$16.0M	50x

Funding history

latest

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee BybitbpOrdersRate

Funding earned: $40
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $22
Break-even: 3.1 days

Slippage unknown: Phoenix: no order-book sample; Bybit: live order book, 3 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.348%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Phoenix no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	0.70 bp	10.1 bp −$10	19.6 bp −$196	132.8 bp −$13.3K	doesn't fit

Phoenix: 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 32 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
01 Exchange VIRTUALUSD	−0.0176%	1h	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0172%	1h	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	$24	—	10x	as long as short
Phoenix VIRTUALlong	−0.0090%	1h	$11K	$46K	5x
SoDEX VIRTUAL-USD	−0.0056%	1h	$211	$8K	5x	as long as short
Lighter VIRTUAL	−0.0032%	1h	$323K	$411K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	$12K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	$43	$28K	5.5x	as long as short
Variational Omni VIRTUAL	+0.0052%	4h	$601K	$803K	—	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0064%	4h	$14K	$1.5M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Hyperliquid VIRTUAL	+0.0100%	1h	$8.8M	$3.7M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	$184K	$75K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	$73K	$41K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	$16.5M	$37.2M	75x	as long as short
Bybit VIRTUALUSDTshort	+0.0100%	4h	$15.7M	$16.0M	50x
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	$2.8M	$10.4M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	$1.4M	$3.1M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	$16.0M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	$3.0M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	$6.0M	$5.6M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	$234K	$178K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	$18K	$256K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	$40K	$241K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	$35K	$799K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	$55K	$244K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0297% / S −0.0228%	1h	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	$828K	$791K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0464%	1h	$195K	$119K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0769%	1h	$519K	$631K	50x	as long as short