Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.013%

Price spread now: ApeX Omni against Polymarket Perps+0.201%63s7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$460.458% of the position

Long on Polymarket Perps Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.232%+$23 on $10k

Price spread, last 4 days (all we have)−0.300%−$30 · spread now +0.201%, 7d avg +0.008%

Together, before fees−0.067%−$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.193% dearer against Polymarket Perps than usual: you sell high and buy low, +$19 on $10k if it goes back to its 7-day average of +0.008%. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps VIRTUAL-USD	0.7060	0.0100	pay 0.0013% / 1h	33m 34s	$52K	$1.1M	5x
Short	ApeX Omni VIRTUALUSDT	0.7074	0.0100	get 0.0013% / 1h	33m 34s	$40K	$237K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Polymarket Perps. 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 Polymarket PerpsbpFee ApeX OmnibpOrdersPrice spread, now +0.201%Rate

Funding earned: $0
Price spread: +0.201% → +0.008%: $19.32
Slippage, 4 orders: −$27.83
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$26.51
Costs to cover: 0.458%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 4 min ago; ApeX Omni: live order book, 13 min ago.

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 Polymarket Perps live order book, 4 min ago	3.61 bp	8.4 bp −$8	8.5 bp −$85	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 13 min ago	6.32 bp	14.7 bp −$15	92.9 bp −$929	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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0459%	1h	0.7051	−0.125%	$15K	$40K	10x	as long as short
01 Exchange VIRTUALUSD	−0.0144%	1h	0.7049	−0.153%	$2K	$106	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7056	−0.051%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7072	+0.177%	$11K	$36K	5x	as long as short
Lighter VIRTUAL	−0.0032%	1h	0.7042	−0.259%	$320K	$402K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7059	−0.011%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	+0.810%	$46	$88K	5.5x	as long as short
Bybit VIRTUALUSDT	+0.0042%	4h	0.7041	−0.266%	$16.2M	$18.9M	50x	as long as short
SoDEX VIRTUAL-USD	+0.0066%	1h	0.7051	−0.125%	$1K	$9K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0075%	4h	0.7052	−0.110%	$14K	$1.4M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VIRTUAL	+0.0100%	1h	0.7059	−0.016%	$8.7M	$4.0M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7051	−0.121%	$91K	$299K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7048	−0.167%	$69K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7046	−0.195%	$15.8M	$41.7M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7047	−0.181%	$2.8M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7049	−0.153%	$1.5M	$3.4M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7045	−0.210%	$15.4M	$4.9M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7046	−0.195%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7044	−0.224%	$6.0M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7046	−0.195%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7054	−0.082%	$236K	$210K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7068	+0.122%	$529K	$910K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7070	+0.140%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7075	+0.216%	$625K	$1.0M	10x	as long as short
ApeX Omni VIRTUALUSDTshort	+0.0100%	1h	0.7074	+0.201%	$40K	$237K	50x
Polymarket Perps VIRTUAL-USDlong	+0.0100%	1h	0.7060	long leg	$52K	$1.1M	5x
SunX VIRTUAL-USDT	+0.0100%	4h	0.7058	−0.025%	$1K	$1.4M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7044	−0.222%	$56K	$302K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7051	−0.129%	$18K	—	3x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0283%	1h	0.7057	−0.035%	$522K	$763K	50x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0312% / S −0.0259%	1h	0.7057	−0.038%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7091	+0.442%	$791K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0432%	1h	0.7162	+1.448%	$199K	$104K	50x	as long as short