Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0239%/8h= −26.2% APRpaid last 24h −0.072%

Price spread now: Reya against Aster−0.034%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Reya

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—+ Points / potential airdropAster: Stage 5 · Reya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Reya is 0.034% cheaper against Aster than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster VIRTUALUSDT	0.7218	0.0100	pay 0.0050% / 4h	1h 34m	$98K	$291K	20x
Short	Reya VIRTUALRUSDPERP	0.7215	−0.0139	pay 0.0017% / 1h	34m 47s	$24	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Aster. 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 AsterbpFee ReyabpOrdersPrice spread, now −0.034%Rate

Funding earned: −$50.21
Price spread: −0.034% → 0.000%: −$3.35
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Reya: 3 bp × 2 orders: −$6
Net: −$67.56
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 27 min ago; Reya: 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 Aster live order book, 27 min ago	8.33 bp	18.4 bp −$18	142.4 bp −$1,424	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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
Reya VIRTUALRUSDPERPshort	−0.0139%	1h	0.7215	−0.034%	$24	—	10x
01 Exchange VIRTUALUSD	−0.0064%	1h	0.7211	−0.093%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	0.0000%	1h	0.7179	−0.529%	$11K	$37K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7218	+0.004%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7218	+0.005%	$4K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.395%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7217	−0.009%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7214	−0.050%	$328K	$413K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7213	−0.066%	$8.9M	$4.1M	5x	as long as short
Aster VIRTUALUSDTlong	+0.0100%	4h	0.7218	long leg	$98K	$291K	20x

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7206	−0.166%	$71K	$42K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7213	−0.067%	$16.5M	$40.4M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7208	−0.134%	$16.7M	$18.1M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7208	−0.134%	$2.9M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7218	+0.004%	$1.4M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7214	−0.051%	$17.4M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7218	+0.004%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7210	−0.106%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7212	−0.079%	—	$8.0M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7222	+0.060%	$239K	$161K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7208	−0.133%	$536K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7185	−0.447%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7191	−0.371%	$638K	$859K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7185	−0.453%	$41K	$239K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7221	+0.040%	$52K	$993K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7212	−0.079%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7218	+0.011%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7216	−0.027%	$54K	$274K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7216	−0.022%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7218	+0.007%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7218	+0.004%	$812K	$849K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7204	−0.190%	$188K	$79K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0906%	1h	0.7225	+0.106%	$601K	$658K	50x	as long as short