Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0372%/8h= +40.7% APRpaid last 24h +0.068%

Price spread now: Coinbase International against SunX+0.098%7-day average +0.243% · you sell dearer than you buy

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

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.335%+$34 on $10k

Price spread, last 3 days (all we have)+0.138%+$14 · spread now +0.098%, 7d avg +0.243%

Together, before fees+0.474%+$47 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.145% cheaper against SunX than usual: you would sell low and buy high (spread +0.098% now, against its 7-day average of +0.243%). If the spread goes back, that is −$15 on $10k: about 31 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.335% in total) that is about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX VIRTUAL-USDT	0.7143	0.0100	pay 0.0050% / 4h	1h 31m	$1K	$1.3M	20x
Short	Coinbase International VIRTUAL-PERP-INTX	0.7150	0.0472	get 0.0059% / 1h	31m 05s	$195K	$94K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.098%Rate

Funding earned: $78.12
Price spread: +0.098% → +0.243%: −$14.53
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $45.59
Costs to cover: 0.180%
Break-even: 2.9 days

Slippage unknown: SunX: live order book, 3 min ago; Coinbase International: live order book, 52 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 SunX live order book, 3 min ago	501.15 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 52 min ago	6.95 bp	25.7 bp −$26	569.6 bp −$5,696	doesn't fit	doesn't fit

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 VIRTUALRUSDPERP	−0.0139%	1h	0.7142	−0.019%	$24	—	10x	as long as short
Lighter VIRTUAL	−0.0128%	1h	0.7136	−0.102%	$325K	$414K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0120%	1h	0.7143	0.000%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0045%	1h	0.7150	+0.105%	$11K	$40K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0030%	1h	0.7143	0.000%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7147	+0.055%	$12K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.364%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0092%	4h	0.7142	−0.014%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7148	+0.071%	$8.7M	$3.8M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7142	−0.019%	$193K	$83K	20x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7142	−0.011%	$71K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7137	−0.081%	$16.2M	$37.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7134	−0.126%	$15.4M	$15.7M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7136	−0.098%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7139	−0.056%	$1.5M	$2.9M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7138	−0.070%	$17.1M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7144	+0.014%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7143	0.000%	$6.0M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7140	−0.042%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7145	+0.028%	$237K	$159K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7146	+0.037%	$523K	$877K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7148	+0.071%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7147	+0.056%	$633K	$930K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7149	+0.084%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7147	+0.057%	$31K	$869K	5x	as long as short
SunX VIRTUAL-USDTlong	+0.0100%	4h	0.7143	long leg	$1K	$1.3M	20x
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7142	−0.017%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7139	−0.052%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7145	+0.024%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0297% / S −0.0228%	1h	0.7147	+0.059%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7142	−0.014%	$807K	$788K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTXshort	+0.0472%	1h	0.7150	+0.098%	$195K	$94K	50x
Kraken Futures PF_VIRTUALUSD	+0.0513%	1h	0.7153	+0.136%	$532K	$544K	50x	as long as short