Spread before costs (cost unknown: a leg has no order-book sample)+0.070%
7d average+0.016%if it closes, per $10,000$7funding while held, a day−$1.12
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit VIRTUALUSDT | 0.7098 | 0.0100 | pay 0.0050% / 4h | 3h 28m | $15.7M | $16.0M | 50x |
| Short | Orderly PERP_VIRTUAL_USDC | 0.7103 | 0.0063 | get 0.0031% / 4h | 3h 28m | $14K | $1.5M | 10x |
Bybit VIRTUALUSDT
Orderly PERP_VIRTUAL_USDCPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $7.04
- Funding while held
- −$1.12
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$11.07
- Spread needed to break even
- 0.170%
Slippage unknown: Bybit: live order book, 1 min ago; Orderly: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0037%
- Per $10,000 a day
- −$1.12
- Average in range /8h
- —
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 Bybit live order book, 1 min ago | 0.70 bp | 9.9 bp −$10 | 23.7 bp −$237 | 218.5 bp −$21.9K | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 price on every exchange
against the cheapest. Click to use as the short leg.Injective0.6744cheapestPhoenix0.7092+5.165%
Injective
PhoenixBybit0.7098+5.249%
OKX0.7099+5.264%Extended0.7099+5.270%MEXC0.7100+5.279%SoDEX0.7100+5.286%Lighter0.7101+5.298%Variational Omni0.7101+5.299%Binance0.7101+5.300%BingX0.7102+5.308%
OKX
Extended
MEXC
SoDEX
Lighter
Variational Omni
Binance
BingXOrderly0.7103+5.323%
SunX0.7103+5.323%Aevo0.7103+5.325%Gate0.7104+5.338%BloFin0.7104+5.338%Reya0.7104+5.340%01 Exchange0.7105+5.353%KuCoin0.7105+5.353%Deribit0.7105+5.353%Bitget0.7106+5.368%Backpack0.7106+5.368%Pacifica0.7107+5.388%Aster0.7108+5.391%gTrade (Gains Network)0.7109+5.408%Polymarket Perps0.7110+5.426%GMX0.7111+5.439%Hyperliquid0.7112+5.461%Kraken Futures0.7113+5.465%edgeX0.7113+5.475%ApeX Omni0.7120+5.575%Coinbase International0.7131+5.738%
SunX
Aevo
Gate
BloFin
Reya
KuCoin
Deribit
Bitget
Backpack
Pacifica
Aster
gTrade (Gains Network)
Polymarket Perps
GMX
Hyperliquid
Kraken Futures
ApeX Omni
Coinbase InternationalVIRTUAL on 32 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective VIRTUAL/USDC PERP | −4.987% | +0.0033% | 1h | $43 | $28K | 5.5x | as long as short |
| Phoenix VIRTUAL | −0.080% | −0.0090% | 1h | $11K | $46K | 5x | as long as short |
| Bybit VIRTUALUSDTlong | 0.000% | +0.0100% | 4h | $15.7M | $16.0M | 50x | |
| OKX VIRTUAL-USDT-SWAP | +0.014% | +0.0100% | 4h | $2.7M | $10.3M | 20x | as long as short |
| Extended VIRTUAL-USD | +0.020% | +0.0104% | 1h | $55K | $244K | 10x | as long as short |
| MEXC VIRTUAL_USDT | +0.028% | +0.0100% | 4h | $16.0M | $4.1M | 100x | as long as short |
| SoDEX VIRTUAL-USD | +0.035% | −0.0085% | 1h | $213 | $8K | 5x | as long as short |
| Lighter VIRTUAL | +0.046% | −0.0056% | 1h | $323K | $412K | 5x | as long as short |
| Variational Omni VIRTUAL | +0.048% | +0.0038% | 4h | $599K | $803K | — | as long as short |
| Binance VIRTUALUSDT | +0.048% | +0.0100% | 4h | $16.5M | $37.2M | 75x | as long as short |