Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0092%/8h= +10.1% APRpaid last 24h −0.006%

Price spread now: SoDEX against Bybit+0.063%46s7-day average — · you sell dearer than you buy

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

Long on Bybit Short on SoDEX

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 for this trade now. Funding pays +$3 a day on $10k at the current rate, and SoDEX is 0.063% dearer against Bybit than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit VIRTUALUSDT	0.7144	0.0008	pay 0.0004% / 4h	1h 56m	$16.2M	$19.0M	50x
Short	SoDEX VIRTUAL-USD	0.7148	0.0100	get 0.0013% / 1h	56m 35s	$1K	$9K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Bybit. 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 BybitbpFee SoDEXbpOrdersPrice spread, now +0.063%Rate

Funding earned: $19.33
Price spread: +0.063% → 0.000%: $6.3
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $6.63
Costs to cover: 0.190%
Break-even: 4.6 days

Slippage unknown: Bybit: live order book, 2 min ago; SoDEX: 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 Bybit live order book, 2 min ago	1.40 bp	10.6 bp −$11	23.1 bp −$231	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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 VIRTUALRUSDPERP	−0.0139%	1h	0.7142	−0.023%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7172	+0.389%	$11K	$36K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0104%	1h	0.7142	−0.028%	$2K	$106	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0030%	1h	0.7152	+0.112%	$15K	$40K	10x	as long as short
Kraken Futures PF_VIRTUALUSD	−0.0005%	1h	0.7150	+0.090%	$524K	$759K	50x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7158	+0.194%	$14K	—	150x	as long as short
Bybit VIRTUALUSDTlong	+0.0008%	4h	0.7144	long leg	$16.2M	$19.0M	50x
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.378%	$46	$88K	5.5x	as long as short
Lighter VIRTUAL	+0.0072%	1h	0.7139	−0.063%	$324K	$400K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0074%	4h	0.7149	+0.070%	$15K	$1.6M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VIRTUAL	+0.0100%	1h	0.7154	+0.141%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7151	+0.098%	$92K	$302K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7146	+0.032%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7146	+0.024%	$16.1M	$42.2M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7145	+0.014%	$2.9M	$10.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7147	+0.042%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7142	−0.028%	$16.2M	$5.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7150	+0.084%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7146	+0.028%	$6.0M	$5.9M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7147	+0.042%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7153	+0.126%	$237K	$180K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7162	+0.254%	$533K	$914K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7153	+0.126%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7167	+0.322%	$641K	$1.0M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7167	+0.322%	$40K	$237K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7144	0.000%	$51K	$1.0M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7156	+0.168%	$1K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USDshort	+0.0100%	1h	0.7148	+0.063%	$1K	$9K	5x
Extended VIRTUAL-USD	+0.0104%	1h	0.7145	+0.016%	$55K	$304K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7147	+0.044%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0313% / S −0.0258%	1h	0.7157	+0.185%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7158	+0.196%	$787K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7192	+0.672%	$200K	$102K	50x	as long as short