VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0240%/8h= −26.3% APRnext payment −$1.20 per $10,000 · paid last 24h −0.074%

Price spread now: Bybit against BloFin+0.042%7-day average −0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$410.408% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.431%−$43 on $10k

Price spread, last 4 days (all we have)+0.049%+$5 · spread now +0.042%, 7d avg −0.017%

Together, before fees−0.381%−$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.059% dearer against BloFin than usual: you sell high and buy low (spread +0.042% now, against its 7-day average of −0.017%): +$6 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin VIRTUAL-USDT	0.7209	0.0340	pay 0.0170% / 4h	3h 13m	$775K	$1.0M	75x
Short	Bybit VIRTUALUSDT	0.7212	0.0100	get 0.0050% / 4h	3h 13m	$16.5M	$18.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BloFin. 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 BloFinbpFee BybitbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$50.4
Price spread: +0.042% → −0.017%: $5.9
Slippage, 4 orders: −$17.78
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$85.28
Costs to cover: 0.408%
Break-even: never at this rate

Slippage from BloFin: live order book, 4 min ago; Bybit: live order book, just now.

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 BloFin live order book, 4 min ago	2.08 bp	8.5 bp −$8	17.0 bp −$170	47.5 bp −$4,747	doesn't fit
Sell Bybit live order book, just now	1.39 bp	10.0 bp −$10	22.3 bp −$223	136.0 bp −$13.6K	doesn't fit

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	−0.0223%	1h	0.7216	+0.097%	$519K	$732K	50x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7213	+0.060%	$24	—	10x	as long as short
Lighter VIRTUAL	−0.0056%	1h	0.7209	0.000%	$329K	$405K	5x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7227	+0.246%	$11K	$36K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0027%	1h	0.7212	+0.042%	$15K	$30K	10x	as long as short
Variational Omni VIRTUAL	−0.0006%	4h	0.7234	+0.353%	$542K	$754K	—	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0006%	1h	0.7211	+0.029%	$22K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.276%	$46	$88K	5.5x	as long as short
SoDEX VIRTUAL-USD	+0.0070%	1h	0.7210	+0.021%	$1K	$9K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0077%	4h	0.7212	+0.042%	$15K	$1.9M	10x	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	0.7219	+0.132%	$93K	$303K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7225	+0.222%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7215	+0.083%	$16.1M	$41.5M	75x	as long as short
Bybit VIRTUALUSDTshort	+0.0100%	4h	0.7212	+0.042%	$16.5M	$18.6M	50x
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7214	+0.069%	$2.9M	$10.3M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7213	+0.055%	$1.5M	$3.2M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7214	+0.069%	$15.4M	$5.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7216	+0.097%	$3.4M	$4.6M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7216	+0.097%	$6.1M	$5.6M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7212	+0.042%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7216	+0.097%	$245K	$172K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7226	+0.233%	$19K	$259K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7221	+0.162%	$640K	$1.2M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7225	+0.222%	$41K	$234K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7222	+0.180%	$48K	$1.0M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7213	+0.055%	$2K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7213	+0.057%	$54K	$308K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7210	+0.010%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0150%	1h	0.7224	+0.203%	$8.9M	$3.8M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0313% / S −0.0258%	1h	0.7211	+0.032%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDTlong	+0.0340%	4h	0.7209	long leg	$775K	$1.0M	75x
Coinbase International VIRTUAL-PERP-INTX	+0.0512%	1h	0.7251	+0.583%	$202K	$102K	50x	as long as short
01 Exchange VIRTUALUSD	+0.6256%	1h	0.7358	+2.067%	$2K	$106	10x	as long as short