VIRTUAL

Alert

Funding spread now, next payment 18:00 UTC0.0000%/8h

paid, last 24h−0.061%paid, last 3 days−0.271%to open and closeno order book

Long on Variational Omni Short on Phoenix

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni VIRTUAL	0.6960	−0.0138	get 0.0069% / 4h	1h 55m	$522K	$847K	—
Short	Phoenix VIRTUAL	0.6964	−0.0138	pay 0.0017% / 1h	55m 52s	$11K	$48K	5x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee Variational OmnibpFee PhoenixbpOrdersRate

Funding earned: −$0.01
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$7.01
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 45 min ago; Phoenix: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: +0.051%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Variational Omni RFQ quote, 45 min ago	4.28 bp	doesn't fit	25.7 bp −$257	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

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 32 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Lighter VIRTUAL	−0.0496%	1h	$316K	$389K	5x	as long as short
Bybit VIRTUALUSDT	−0.0227%	4h	$15.1M	$15.5M	50x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0181%	1h	$15K	$40K	10x	as long as short
01 Exchange VIRTUALUSD	−0.0168%	1h	$2K	$131	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	$23	—	10x	as long as short
Phoenix VIRTUALshort	−0.0138%	1h	$11K	$48K	5x
Variational Omni VIRTUALlong	−0.0138%	4h	$522K	$847K	—
SoDEX VIRTUAL-USD	−0.0032%	1h	$1K	$9K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	$12K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	$43	$28K	5.5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Orderly PERP_VIRTUAL_USDC	+0.0055%	4h	$14K	$1.5M	10x	as long as short
Gate VIRTUAL_USDT	+0.0058%	4h	$1.4M	$3.1M	75x	as long as short
ApeX Omni VIRTUALUSDT	+0.0080%	1h	$40K	$241K	50x	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0095%	1h	$229K	$172K	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	$8.6M	$3.7M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	$178K	$60K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	$72K	$41K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	$15.7M	$36.0M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	$2.7M	$9.7M	20x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	$15.8M	$3.8M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	$3.0M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	$6.0M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	—	$8.2M	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	$18K	$255K	10x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	$33K	$765K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	$2K	$1.2M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	$54K	$243K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	$17K	$505	3x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0146%	1h	$509K	$517K	50x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0295% / S −0.0228%	1h	$29K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	$812K	$768K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	$189K	$117K	50x	as long as short