Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0239%/8h= +26.2% APRpaid last 24h +0.072%

Price spread now: SunX against Reya+0.007%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 SunX

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya VIRTUALRUSDPERP	0.7180	−0.0139	get 0.0017% / 1h	21m 22s	$24	—	10x
Short	SunX VIRTUAL-USDT	0.7180	0.0100	get 0.0050% / 4h	3h 21m	$1K	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.007%Rate

Funding earned: $50.2
Price spread: +0.007% → 0.000%: $0.69
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee SunX: 4 bp × 2 orders: −$8
Net: $36.89
Costs to cover: 0.140%
Break-even: 1.9 days

Slippage unknown: Reya: no order-book sample; SunX: live order book, 3 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 SunX live order book, 3 min ago	500.59 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

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
Lighter VIRTUAL	−0.0192%	1h	0.7169	−0.149%	$327K	$406K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0144%	1h	0.7179	−0.007%	$2K	$106	10x	as long as short
Reya VIRTUALRUSDPERPlong	−0.0139%	1h	0.7180	long leg	$24	—	10x
Phoenix VIRTUAL	−0.0022%	1h	0.7176	−0.043%	$11K	$37K	5x	as long as short
SoDEX VIRTUAL-USD	−0.0001%	1h	0.7177	−0.042%	$1K	$9K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7180	+0.007%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7180	+0.003%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.871%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0088%	4h	0.7182	+0.035%	$14K	$1.4M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7191	+0.166%	$8.8M	$4.1M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7181	+0.016%	$94K	$299K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7179	−0.009%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7179	−0.002%	$16.2M	$41.0M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7175	−0.063%	$16.6M	$18.6M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7182	+0.035%	$2.9M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7180	+0.007%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7179	−0.007%	$16.2M	$4.8M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7178	−0.021%	$3.0M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7182	+0.035%	$6.1M	$5.9M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7180	+0.007%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7155	−0.341%	$239K	$213K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7166	−0.186%	$536K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7160	−0.278%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7162	−0.244%	$635K	$953K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7163	−0.230%	$40K	$237K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7182	+0.039%	$54K	$1.1M	5x	as long as short
SunX VIRTUAL-USDTshort	+0.0100%	4h	0.7180	+0.007%	$1K	$1.3M	20x
Extended VIRTUAL-USD	+0.0104%	1h	0.7176	−0.052%	$57K	$258K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7177	−0.034%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7182	+0.041%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7161	−0.258%	$794K	$949K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7214	+0.481%	$201K	$104K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0487%	1h	0.7189	+0.132%	$589K	$669K	50x	as long as short