VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0062%/8h= −6.8% APRnext payment −$0.08 per $10,000 · paid last 24h −0.049%

Price spread now: Phoenix against SoDEX+0.479%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 Phoenix

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

The price spread pays, funding is against you. Phoenix is 0.479% dearer against SoDEX than usual: you sell high and buy low (spread +0.479% now, against zero (this spread has no 7-day history yet)): +$48 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 26 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX VIRTUAL-USD	0.7176	0.0040	pay 0.0005% / 1h	26m 52s	$1K	$9K	5x
Short	Phoenix VIRTUAL	0.7210	−0.0022	pay 0.0003% / 1h	26m 52s	$11K	$37K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.479%Rate

Funding earned: −$13.09
Price spread: +0.479% → 0.000%: $47.94
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $19.85
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: SoDEX: 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 SoDEX no order-book sample	—	—	—	—	—
Sell Phoenix no order-book sample	—	—	—	—	—

SoDEX 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 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	−0.0446%	1h	0.7176	+0.007%	$15K	$40K	10x	as long as short
Lighter VIRTUAL	−0.0144%	1h	0.7172	−0.049%	$327K	$406K	5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7176	+0.006%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0128%	1h	0.7173	−0.035%	$2K	$106	10x	as long as short
Phoenix VIRTUALshort	−0.0022%	1h	0.7210	+0.479%	$11K	$37K	5x
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7179	+0.048%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.815%	$46	$88K	5.5x	as long as short
SoDEX VIRTUAL-USDlong	+0.0040%	1h	0.7176	long leg	$1K	$9K	5x
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7174	−0.021%	$14K	$1.4M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7187	+0.164%	$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	0.7176	+0.008%	$94K	$294K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7181	+0.075%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7174	−0.021%	$16.2M	$41.0M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7173	−0.035%	$16.6M	$18.6M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7179	+0.049%	$2.9M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7179	+0.049%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7177	+0.021%	$16.4M	$4.7M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7178	+0.035%	$3.0M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7178	+0.035%	$6.2M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7177	+0.021%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7180	+0.063%	$241K	$213K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7208	+0.449%	$539K	$913K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7188	+0.181%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7187	+0.160%	$638K	$953K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7210	+0.481%	$41K	$238K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7178	+0.038%	$54K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7176	+0.007%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7174	−0.019%	$57K	$267K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7174	−0.023%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7179	+0.044%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7177	+0.021%	$799K	$951K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7214	+0.537%	$201K	$104K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0487%	1h	0.7187	+0.161%	$589K	$665K	50x	as long as short