VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0268%/8h= −29.3% APRnext payment −$0.33 per $10,000 · paid last 24h −0.078%

Price spread now: 01 Exchange against Backpack−0.137%7-day average — · you buy dearer than you sell

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

Long on Backpack Short on 01 Exchange

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

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and 01 Exchange is 0.137% cheaper against Backpack than usual: you would sell low and buy high (−$14 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	Backpack VIRTUAL_USDC_PERP	0.7313	0.0100	pay 0.0013% / 1h	3m 08s	$248K	$168K	10x
Short	01 Exchange VIRTUALUSD	0.7303	−0.0168	pay 0.0021% / 1h	3m 08s	$2K	$131	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange against Backpack. 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 BackpackbpFee 01 ExchangebpOrdersPrice spread, now −0.137%Rate

Funding earned: −$56.28
Price spread: −0.137% → 0.000%: −$13.67
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$86.95
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 10 min ago; 01 Exchange: 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 Backpack live order book, 10 min ago	2.06 bp	10.2 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

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
01 Exchange VIRTUALUSDshort	−0.0168%	1h	0.7303	−0.137%	$2K	$131	10x
Deribit VIRTUAL_USDC-PERPETUAL	−0.0160%	1h	0.7308	−0.068%	$15K	$40K	10x	as long as short
Lighter VIRTUAL	−0.0152%	1h	0.7304	−0.120%	$332K	$416K	5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7305	−0.113%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0066%	1h	0.7285	−0.380%	$11K	$40K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7307	−0.085%	$9K	—	150x	as long as short
SoDEX VIRTUAL-USD	+0.0010%	1h	0.7308	−0.075%	$1K	$9K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.680%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7308	−0.068%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7312	−0.010%	$200K	$104K	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	0.7312	−0.018%	$72K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7312	−0.014%	$16.6M	$38.9M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7309	−0.055%	$16.3M	$16.8M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7304	−0.123%	$2.9M	$9.6M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7312	−0.014%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7306	−0.096%	$18.3M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7311	−0.027%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7314	+0.014%	$6.3M	$5.5M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7307	−0.082%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERPlong	+0.0100%	1h	0.7313	long leg	$248K	$168K	10x
Variational Omni VIRTUAL	+0.0100%	4h	0.7273	−0.554%	$541K	$890K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7277	−0.499%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7297	−0.219%	$648K	$915K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7285	−0.383%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7311	−0.033%	$38K	$993K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7301	−0.164%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7306	−0.097%	$54K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7309	−0.049%	$18K	$505	3x	as long as short
Hyperliquid VIRTUAL	+0.0122%	1h	0.7323	+0.141%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7306	−0.102%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7304	−0.123%	$817K	$851K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7327	+0.191%	$199K	$94K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0860%	1h	0.7323	+0.135%	$601K	$585K	50x	as long as short