Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0140%/8h= −15.3% APRpaid last 24h −0.075%

Price spread now: 01 Exchange against Bybit−0.135%7-day average — · you buy dearer than you sell

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

Long on Bybit 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 −$4 a day on $10k at the current rate, and 01 Exchange is 0.135% cheaper against Bybit 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	Bybit VIRTUALUSDT	0.7400	0.0100	pay 0.0050% / 4h	3h 07m	$16.8M	$17.2M	50x
Short	01 Exchange VIRTUALUSD	0.7390	−0.0040	pay 0.0005% / 1h	7m 54s	$2K	$131	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.135%Rate

Funding earned: −$29.4
Price spread: −0.135% → 0.000%: −$13.51
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$60.91
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 1 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 Bybit live order book, 1 min ago	0.68 bp	12.4 bp −$12	22.7 bp −$227	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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7389	−0.143%	$25	—	10x	as long as short
Phoenix VIRTUAL	−0.0109%	1h	0.7384	−0.212%	$12K	$40K	5x	as long as short
01 Exchange VIRTUALUSDshort	−0.0040%	1h	0.7390	−0.135%	$2K	$131	10x
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7397	−0.041%	$16K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7395	−0.062%	$4K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−3.824%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7396	−0.054%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7393	−0.095%	$335K	$420K	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7400	0.000%	$205K	$162K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7395	−0.071%	$73K	$44K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VIRTUALUSDT	+0.0100%	4h	0.7401	+0.008%	$17.2M	$39.8M	75x	as long as short
Bybit VIRTUALUSDTlong	+0.0100%	4h	0.7400	long leg	$16.8M	$17.2M	50x
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7400	0.000%	$2.9M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7397	−0.041%	$1.5M	$3.1M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7395	−0.068%	$18.6M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7399	−0.014%	$4.4M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7403	+0.041%	$6.4M	$5.7M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7401	+0.014%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7399	−0.014%	$251K	$165K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7369	−0.422%	$552K	$885K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7368	−0.436%	$19K	$259K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7375	−0.339%	$656K	$890K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7372	−0.378%	$41K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7397	−0.046%	$51K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7394	−0.081%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7395	−0.065%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7396	−0.056%	$55K	$277K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7395	−0.074%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0206%	1h	0.7415	+0.200%	$9.2M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0301% / S −0.0228%	1h	0.7393	−0.099%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7402	+0.027%	$841K	$862K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7411	+0.149%	$201K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0731%	1h	0.7402	+0.028%	$613K	$651K	50x	as long as short