Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0239%/8h= +26.2% APRpaid last 24h +0.072%

Price spread now: BingX against Reya+0.148%7-day average — · you sell dearer than you buy

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

Long on Reya Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BingX is 0.148% dearer against Reya than usual: you sell high and buy low: +$15 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya VIRTUALRUSDPERP	0.7320	−0.0139	get 0.0017% / 1h	34m 26s	$25	—	10x
Short	BingX VIRTUAL-USDT	0.7331	0.0100	get 0.0050% / 4h	3h 34m	—	$8.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Reya. 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 ReyabpFee BingXbpOrdersPrice spread, now +0.148%Rate

Funding earned: $50.22
Price spread: +0.148% → 0.000%: $14.78
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee BingX: 5 bp × 2 orders: −$10
Net: $49
Costs to cover: 0.160%
Break-even: 0.2 days

Slippage unknown: Reya: no order-book sample; BingX: live order book, 4 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 Reya no order-book sample	—	—	—	—	—
Sell BingX live order book, 4 min ago	2.05 bp	9.5 bp −$9	13.2 bp −$132	22.0 bp −$2,196	66.3 bp −$33.2K

Reya: 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
Reya VIRTUALRUSDPERPlong	−0.0139%	1h	0.7320	long leg	$25	—	10x
Phoenix VIRTUAL	−0.0109%	1h	0.7329	+0.121%	$12K	$40K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0072%	1h	0.7330	+0.134%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7326	+0.080%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7325	+0.061%	$4K	—	150x	as long as short
Lighter VIRTUAL	+0.0008%	1h	0.7328	+0.100%	$332K	$417K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.776%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0088%	4h	0.7326	+0.080%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7339	+0.252%	$200K	$155K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7332	+0.158%	$73K	$45K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VIRTUALUSDT	+0.0100%	4h	0.7331	+0.142%	$17.0M	$39.3M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7329	+0.121%	$16.6M	$17.0M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7320	−0.002%	$2.9M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7330	+0.134%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7319	−0.016%	$18.5M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7333	+0.175%	$4.4M	$4.1M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7330	+0.134%	$6.4M	$5.6M	25x	as long as short
BingX VIRTUAL-USDTshort	+0.0100%	4h	0.7331	+0.148%	—	$8.1M	—
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7334	+0.189%	$249K	$165K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7338	+0.242%	$549K	$885K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7311	−0.125%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7302	−0.248%	$648K	$889K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7326	+0.080%	$40K	$243K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7335	+0.207%	$47K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7326	+0.080%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7323	+0.045%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7330	+0.134%	$55K	$281K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7325	+0.071%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0172%	1h	0.7334	+0.187%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0300% / S −0.0228%	1h	0.7325	+0.063%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7329	+0.121%	$830K	$844K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7351	+0.421%	$200K	$92K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0738%	1h	0.7337	+0.229%	$605K	$634K	50x	as long as short