VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0204%/8h= +22.3% APRnext payment +$0.26 per $10,000 · paid last 24h +0.080%

Price spread now: Backpack against 01 Exchange−0.140%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Backpack

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

Funding pays, the price is against you. Backpack is 0.140% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.140% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 2.3 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange VIRTUALUSD	0.7160	−0.0104	get 0.0013% / 1h	35m 26s	$2K	$131	10x
Short	Backpack VIRTUAL_USDC_PERP	0.7150	0.0100	get 0.0013% / 1h	35m 26s	$235K	$158K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against 01 Exchange. 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 01 ExchangebpFee BackpackbpOrdersPrice spread, now −0.140%Rate

Funding earned: $42.84
Price spread: −0.140% → 0.000%: −$13.97
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Backpack: 5 bp × 2 orders: −$10
Net: $11.87
Costs to cover: 0.170%
Break-even: 5.1 days

Slippage unknown: 01 Exchange: no order-book sample; Backpack: 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Backpack live order book, 52 min ago	2.10 bp	8.9 bp −$9	doesn't fit	doesn't fit	doesn't fit

01 Exchange: 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	−0.0588%	1h	0.7156	−0.056%	$15K	$40K	10x	as long as short
Injective VIRTUAL/USDC PERP	−0.0160%	1h	0.7117	−0.601%	$46	$88K	5.5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7160	−0.007%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7134	−0.360%	$11K	$45K	5x	as long as short
01 Exchange VIRTUALUSDlong	−0.0104%	1h	0.7160	long leg	$2K	$131	10x
Variational Omni VIRTUAL	+0.0005%	4h	0.7142	−0.248%	$521K	$874K	—	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7160	+0.003%	$12K	—	150x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0082%	4h	0.7157	−0.042%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0088%	1h	0.7150	−0.134%	$325K	$391K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7170	+0.135%	$8.8M	$3.6M	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	0.7163	+0.041%	$195K	$81K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7161	+0.007%	$74K	$42K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7158	−0.031%	$16.4M	$36.7M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7155	−0.070%	$15.5M	$15.4M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7155	−0.070%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7162	+0.028%	$1.5M	$2.9M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7159	−0.014%	$17.1M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7165	+0.070%	$3.1M	$3.9M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7163	+0.042%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7158	−0.028%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERPshort	+0.0100%	1h	0.7150	−0.140%	$235K	$158K	10x
edgeX VIRTUALUSDC	+0.0100%	4h	0.7134	−0.369%	$19K	$256K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7148	−0.170%	$633K	$974K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7151	−0.126%	$40K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7163	+0.039%	$33K	$783K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7163	+0.042%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7155	−0.071%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7153	−0.095%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7157	−0.043%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0297% / S −0.0228%	1h	0.7160	+0.005%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7150	−0.140%	$815K	$801K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7152	−0.112%	$195K	$94K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0525%	1h	0.7166	+0.086%	$536K	$541K	50x	as long as short