Funding you earn now, next payment 09:00 UTC+0.0007%/8h= +0.7% APRnext payment +$0.01 per $10,000 · paid last 24h +0.019%
Price spread now: Phoenix against Reya+0.253%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phoenix is 0.253% dearer against Reya than usual: you sell high and buy low, +$25 on $10k if it 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 | 0.7169 | −0.0139 | get 0.0017% / 1h | 57m 13s | $24 | — | 10x |
| Short | Phoenix VIRTUAL | 0.7188 | −0.0132 | pay 0.0017% / 1h | 57m 13s | $11K | $32K | 5x |
Reya VIRTUALRUSDPERP
Phoenix VIRTUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Reya. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $1.43
- Price spread: +0.253% → 0.000%
- $25.27
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $13.7
- Costs to cover
- 0.130%
- Break-even
- from the start
Slippage unknown: Reya: no order-book sample; Phoenix: no order-book sample. 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 Phoenix no order-book sample | — | — | — | — | — |
Reya and 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 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 | −0.0447% | 1h | 0.7173 | +0.049% | $25K | $40K | 10x | as long as short |
| Reya VIRTUALRUSDPERPlong | −0.0139% | 1h | 0.7169 | long leg | $24 | — | 10x | |
| Phoenix VIRTUALshort | −0.0132% | 1h | 0.7188 | +0.253% | $11K | $32K | 5x | |
| Lighter VIRTUAL | −0.0120% | 1h | 0.7168 | −0.015% | $326K | $368K | 5x | as long as short |
| SoDEX VIRTUAL-USD | −0.0041% | 1h | 0.7170 | +0.014% | $1K | $9K | 5x | as long as short |
| gTrade (Gains Network) VIRTUAL/USD | L +0.0007% / S −0.0006% | 1h | 0.7175 | +0.078% | $22K | — | 150x | as long as short |
| Injective VIRTUAL/USDC PERP | +0.0033% | 1h | 0.7117 | −0.732% | $46 | $88K | 5.5x | as long as short |
| Kraken Futures PF_VIRTUALUSD | +0.0063% | 1h | 0.7184 | +0.205% | $562K | $749K | 50x | as long as short |
| Variational Omni VIRTUAL | +0.0072% | 4h | 0.7173 | +0.053% | $681K | $816K | — | as long as short |
| Orderly PERP_VIRTUAL_USDC | +0.0085% | 4h | 0.7173 | +0.049% | $15K | $1.8M | 10x | as long as short |
Deribit VIRTUAL_USDC-PERPETUAL
Lighter VIRTUAL
SoDEX VIRTUAL-USD
gTrade (Gains Network) VIRTUAL/USD
Injective VIRTUAL/USDC PERP
Kraken Futures PF_VIRTUALUSD
Variational Omni VIRTUAL
Orderly PERP_VIRTUAL_USDCShow all 33 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid VIRTUAL | +0.0100% | 1h | 0.7184 | +0.197% | $8.9M | $3.6M | 5x | as long as short |
| Aster VIRTUALUSDT | +0.0100% | 4h | 0.7179 | +0.130% | $92K | $297K | 20x | as long as short |
| Pacifica VIRTUAL | +0.0100% | 1h | 0.7177 | +0.109% | $71K | $42K | 5x | as long as short |
| Binance VIRTUALUSDT | +0.0100% | 4h | 0.7172 | +0.040% | $16.1M | $40.5M | 75x | as long as short |
| Bybit VIRTUALUSDT | +0.0100% | 4h | 0.7171 | +0.021% | $16.6M | $18.5M | 50x | as long as short |
| OKX VIRTUAL-USDT-SWAP | +0.0100% | 4h | 0.7171 | +0.021% | $2.8M | $9.8M | 20x | as long as short |
| Gate VIRTUAL_USDT | +0.0100% | 4h | 0.7177 | +0.105% | $1.5M | $3.1M | 75x | as long as short |
| MEXC VIRTUAL_USDT | +0.0100% | 4h | 0.7171 | +0.021% | $14.9M | $5.1M | 100x | as long as short |
| KuCoin VIRTUALUSDTM | +0.0100% | 4h | 0.7176 | +0.091% | $3.4M | $4.5M | 50x | as long as short |
| Bitget VIRTUALUSDT | +0.0100% | 4h | 0.7178 | +0.119% | $6.1M | $5.5M | 25x | as long as short |
| BingX VIRTUAL-USDT | +0.0100% | 4h | 0.7172 | +0.035% | — | $7.8M | — | as long as short |
| Backpack VIRTUAL_USDC_PERP | +0.0100% | 1h | 0.7182 | +0.175% | $246K | $177K | 10x | as long as short |
| edgeX VIRTUALUSDC | +0.0100% | 4h | 0.7174 | +0.068% | $19K | $258K | 10x | as long as short |
| GRVT VIRTUAL_USDT_Perp | +0.0100% | 4h | 0.7185 | +0.220% | $638K | $1.4M | 10x | as long as short |
| ApeX Omni VIRTUALUSDT | +0.0100% | 1h | 0.7188 | +0.258% | $40K | $234K | 50x | as long as short |
| Polymarket Perps VIRTUAL-USD | +0.0100% | 1h | 0.7178 | +0.119% | $47K | $996K | 5x | as long as short |
| SunX VIRTUAL-USDT | +0.0100% | 4h | 0.7175 | +0.077% | $1K | $1.3M | 20x | as long as short |
| Extended VIRTUAL-USD | +0.0104% | 1h | 0.7169 | −0.005% | $54K | $312K | 10x | as long as short |
| Aevo VIRTUAL-PERP | +0.0104% | 1h | 0.7177 | +0.102% | $18K | — | 3x | as long as short |
| GMX VIRTUAL/USD [WBTC.b-USDC] | L +0.0312% / S −0.0258% | 1h | 0.7175 | +0.077% | $32K | — | 100x | as long as short |
| BloFin VIRTUAL-USDT | +0.0340% | 4h | 0.7174 | +0.063% | $779K | $961K | 75x | as long as short |
| Coinbase International VIRTUAL-PERP-INTX | +0.0480% | 1h | 0.7193 | +0.328% | $202K | $97K | 50x | as long as short |
| 01 Exchange VIRTUALUSD | +0.6224% | 1h | 0.7310 | +1.960% | $2K | $27 | 10x | as long as short |
Hyperliquid VIRTUAL
Aster VIRTUALUSDT
Pacifica VIRTUAL
Binance VIRTUALUSDT
Bybit VIRTUALUSDT
OKX VIRTUAL-USDT-SWAP
Gate VIRTUAL_USDT
MEXC VIRTUAL_USDT
KuCoin VIRTUALUSDTM
Bitget VIRTUALUSDT
BingX VIRTUAL-USDT
Backpack VIRTUAL_USDC_PERP
edgeX VIRTUALUSDC
GRVT VIRTUAL_USDT_Perp
ApeX Omni VIRTUALUSDT
Polymarket Perps VIRTUAL-USD
SunX VIRTUAL-USDT
Extended VIRTUAL-USD
Aevo VIRTUAL-PERP
GMX VIRTUAL/USD [WBTC.b-USDC]
BloFin VIRTUAL-USDT
Coinbase International VIRTUAL-PERP-INTX
01 Exchange VIRTUALUSD