Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0043%/8h= +4.7% APRpaid last 24h +0.067%

Price spread now: Bybit against 01 Exchange−0.209%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 Bybit

What this pair did over the last

the charts below follow

Funding, last 4 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. Bybit is 0.209% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.209% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$21 on $10k: about 16 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange VIRTUALUSD	0.7165	−0.0080	get 0.0010% / 1h	40m 49s	$2K	$106	10x
Short	Bybit VIRTUALUSDT	0.7150	−0.0037	pay 0.0019% / 4h	40m 49s	$16.3M	$18.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.209%Rate

Funding earned: $9.03
Price spread: −0.209% → 0.000%: −$20.94
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$29.91
Costs to cover: 0.180%
Break-even: 30.2 days

Slippage unknown: 01 Exchange: no order-book sample; Bybit: live order book, 3 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 Bybit live order book, 3 min ago	0.70 bp	10.4 bp −$10	22.9 bp −$229	134.8 bp −$13.5K	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
Kraken Futures PF_VIRTUALUSD	−0.0335%	1h	0.7170	+0.069%	$521K	$742K	50x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7163	−0.035%	$24	—	10x	as long as short
Variational Omni VIRTUAL	−0.0125%	4h	0.7158	−0.096%	$537K	$842K	—	as long as short
01 Exchange VIRTUALUSDlong	−0.0080%	1h	0.7165	long leg	$2K	$106	10x
Phoenix VIRTUAL	−0.0067%	1h	0.7161	−0.059%	$11K	$36K	5x	as long as short
Bybit VIRTUALUSDTshort	−0.0037%	4h	0.7150	−0.209%	$16.3M	$18.8M	50x
Lighter VIRTUAL	0.0000%	1h	0.7160	−0.070%	$323K	$403K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7168	+0.042%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7166	+0.016%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.670%	$46	$88K	5.5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_VIRTUAL_USDC	+0.0074%	4h	0.7166	+0.014%	$16K	$1.7M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7162	−0.041%	$92K	$303K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7168	+0.038%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7156	−0.128%	$16.2M	$42.2M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7155	−0.140%	$2.9M	$10.0M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7160	−0.070%	$1.5M	$3.4M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7159	−0.084%	$15.7M	$5.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7163	−0.028%	$3.1M	$4.5M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7161	−0.056%	$6.0M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7160	−0.070%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7168	+0.042%	$237K	$175K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7153	−0.173%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7155	−0.143%	$638K	$1.1M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7152	−0.181%	$40K	$236K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7163	−0.029%	$48K	$1.0M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7166	+0.014%	$2K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7164	−0.021%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7156	−0.121%	$54K	$263K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7164	−0.015%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0310%	1h	0.7174	+0.121%	$8.8M	$3.9M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0313% / S −0.0258%	1h	0.7165	+0.007%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7169	+0.056%	$782K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0480%	1h	0.7170	+0.070%	$200K	$100K	50x	as long as short