Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0012%/8h= +1.4% APRpaid last 24h +0.009%

Price spread now: Binance against SoDEX+0.081%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Binance

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—needs both histories

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Binance is 0.081% dearer against SoDEX than usual: you sell high and buy low: +$8 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	SoDEX VIRTUAL-USD	0.7039	0.0088	pay 0.0011% / 1h	31m 25s	$1K	$9K	5x
Short	Binance VIRTUALUSDT	0.7045	0.0100	get 0.0050% / 4h	2h 31m	$15.8M	$41.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against SoDEX. 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 SoDEXbpFee BinancebpOrdersPrice spread, now +0.081%Rate

Funding earned: $2.6
Price spread: +0.081% → 0.000%: $8.11
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$7.29
Costs to cover: 0.180%
Break-even: 26.6 days

Slippage unknown: SoDEX: no order-book sample; Binance: live order book, 10 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 SoDEX no order-book sample	—	—	—	—	—
Sell Binance live order book, 10 min ago	0.70 bp	10.0 bp −$10	20.7 bp −$207	92.3 bp −$9,226	doesn't fit

SoDEX: 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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0318%	1h	0.7043	+0.050%	$15K	$40K	10x	as long as short
01 Exchange VIRTUALUSD	−0.0144%	1h	0.7046	+0.092%	$2K	$106	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7043	+0.045%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7053	+0.190%	$11K	$36K	5x	as long as short
Lighter VIRTUAL	−0.0032%	1h	0.7042	+0.037%	$320K	$402K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7046	+0.098%	$14K	—	150x	as long as short
Bybit VIRTUALUSDT	+0.0022%	4h	0.7042	+0.036%	$16.2M	$18.9M	50x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	+1.101%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0075%	4h	0.7045	+0.078%	$14K	$1.4M	10x	as long as short
SoDEX VIRTUAL-USDlong	+0.0088%	1h	0.7039	long leg	$1K	$9K	5x

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VIRTUAL	+0.0100%	1h	0.7056	+0.240%	$8.7M	$4.0M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7051	+0.169%	$91K	$299K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7049	+0.131%	$69K	$43K	5x	as long as short
Binance VIRTUALUSDTshort	+0.0100%	4h	0.7045	+0.081%	$15.8M	$41.7M	75x
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7044	+0.064%	$2.8M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7047	+0.107%	$1.5M	$3.4M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7046	+0.092%	$15.3M	$4.9M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7048	+0.121%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7048	+0.121%	$6.0M	$5.9M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7046	+0.092%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7051	+0.163%	$236K	$207K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7068	+0.411%	$529K	$910K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7046	+0.091%	$19K	$262K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7054	+0.209%	$623K	$1.0M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7044	+0.064%	$40K	$237K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7048	+0.121%	$52K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7048	+0.121%	$1K	$1.4M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7038	−0.016%	$56K	$299K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7040	+0.006%	$18K	—	3x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0283%	1h	0.7046	+0.099%	$521K	$763K	50x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0297% / S −0.0259%	1h	0.7045	+0.078%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7050	+0.149%	$783K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0432%	1h	0.7162	+1.740%	$199K	$101K	50x	as long as short