Spread before costs (cost unknown: a leg has no order-book sample)+0.084%
7d average—if it closes, per $10,000$8funding while held, a day+$4.04
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit VIRTUAL_USDC-PERPETUAL | 0.7028 | −0.0034 | get 0.0004% / 1h | 27m 50s | $25K | $30K | 10x |
| Short | Hyperliquid VIRTUAL | 0.7034 | 0.0100 | get 0.0013% / 1h | 27m 50s | $9.1M | $3.4M | 5x |
Deribit VIRTUAL_USDC-PERPETUAL
Hyperliquid VIRTUALPrice 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
- $8.39
- Funding while held
- $4.04
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$3.57
- Spread needed to break even
- 0.160%
Slippage unknown: Deribit: no order-book sample; Hyperliquid: live order book, 6 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0135%
- Per $10,000 a day
- +$4.04
- 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 6 min ago | 0.85 bp | 10.9 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
Deribit: 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.Injective0.6744cheapestPhoenix0.7006+3.882%edgeX0.7006+3.887%ApeX Omni0.7009+3.929%Variational Omni0.7013+3.986%Extended0.7016+4.035%OKX0.7018+4.063%MEXC0.7018+4.063%Bybit0.7020+4.093%Binance0.7021+4.107%BingX0.7021+4.107%Bitget0.7022+4.122%Lighter0.7023+4.136%SoDEX0.7024+4.149%Gate0.7025+4.167%01 Exchange0.7026+4.181%KuCoin0.7026+4.181%Orderly0.7027+4.196%Reya0.7028+4.209%Backpack0.7028+4.211%
Injective
Phoenix
ApeX Omni
Variational Omni
Extended
OKX
MEXC
Bybit
Binance
BingX
Bitget
Lighter
SoDEX
Gate
KuCoin
Orderly
Reya
BackpackDeribit0.7028+4.211%
gTrade (Gains Network)0.7029+4.232%GMX0.7030+4.243%Aevo0.7030+4.247%Aster0.7031+4.257%BloFin0.7032+4.270%
gTrade (Gains Network)
GMX
Aevo
Aster
BloFinHyperliquid0.7034+4.299%
SunX0.7034+4.300%Polymarket Perps0.7034+4.306%Kraken Futures0.7035+4.318%Pacifica0.7039+4.367%Coinbase International0.7052+4.567%
SunX
Polymarket Perps
Kraken Futures
Pacifica
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 | −4.041% | +0.0033% | 1h | $43 | $70K | 5.5x | as long as short |
| Phoenix VIRTUAL | −0.316% | −0.0113% | 1h | $11K | $42K | 5x | as long as short |
| edgeX VIRTUALUSDC | −0.311% | +0.0100% | 4h | $18K | $256K | 10x | as long as short |
| ApeX Omni VIRTUALUSDT | −0.270% | +0.0100% | 1h | $40K | $242K | 50x | as long as short |
| Variational Omni VIRTUAL | −0.216% | −0.0031% | 4h | $590K | $801K | — | as long as short |
| Extended VIRTUAL-USD | −0.169% | +0.0104% | 1h | $55K | $244K | 10x | as long as short |
| OKX VIRTUAL-USDT-SWAP | −0.142% | +0.0100% | 4h | $2.7M | $10.3M | 20x | as long as short |
| MEXC VIRTUAL_USDT | −0.142% | +0.0100% | 4h | $15.8M | $4.0M | 100x | as long as short |
| Bybit VIRTUALUSDT | −0.114% | +0.0100% | 4h | $15.5M | $15.8M | 50x | as long as short |
| Binance VIRTUALUSDT | −0.100% | +0.0100% | 4h | $16.2M | $36.7M | 75x | as long as short |