Spread before costs (cost unknown: a leg has no order-book sample)+1.269%
7d average—if it closes, per $10,000$127funding while held, a day+$12.80
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit VIRTUAL_USDC-PERPETUAL | 0.6991 | −0.0608 | get 0.0076% / 1h | 52m 32s | $15K | $20K | 10x |
| Short | Phoenix VIRTUAL | 0.7080 | −0.0181 | pay 0.0023% / 1h | 52m 32s | $11K | $43K | 5x |
Deribit VIRTUAL_USDC-PERPETUAL
Phoenix 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
- $126.88
- Funding while held
- $12.8
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $125.68
- Spread needed to break even
- 0.140%
Slippage unknown: Deribit: no order-book sample; Phoenix: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0427%
- Per $10,000 a day
- +$12.80
- 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 Phoenix no order-book sample | — | — | — | — | — |
Deribit and Phoenix: 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.Injective0.6744cheapestAevo0.6986+3.586%BloFin0.6986+3.588%Orderly0.6988+3.618%
Injective
Aevo
BloFin
OrderlyDeribit0.6991+3.663%
GMX0.6994+3.704%gTrade (Gains Network)0.6994+3.711%SoDEX0.6995+3.714%Backpack0.7002+3.826%Kraken Futures0.7004+3.862%Aster0.7005+3.870%SunX0.7005+3.870%01 Exchange0.7007+3.900%Polymarket Perps0.7008+3.918%Lighter0.7009+3.925%Reya0.7009+3.933%BingX0.7010+3.944%Extended0.7010+3.949%Binance0.7011+3.956%MEXC0.7011+3.959%Gate0.7012+3.974%KuCoin0.7012+3.974%OKX0.7013+3.989%Bybit0.7014+4.004%Bitget0.7014+4.004%Pacifica0.7016+4.033%Hyperliquid0.7017+4.047%edgeX0.7063+4.725%ApeX Omni0.7067+4.789%
GMX
gTrade (Gains Network)
SoDEX
Backpack
Kraken Futures
Aster
SunX
Polymarket Perps
Lighter
Reya
BingX
Extended
Binance
MEXC
Gate
KuCoin
OKX
Bybit
Bitget
Pacifica
Hyperliquid
ApeX OmniPhoenix0.7080+4.978%
Variational Omni0.7097+5.241%Coinbase International0.7107+5.383%
Variational 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 | −3.533% | +0.0033% | 1h | $43 | $105K | 5.5x | as long as short |
| Aevo VIRTUAL-PERP | −0.074% | +0.0104% | 1h | $17K | $505 | 3x | as long as short |
| BloFin VIRTUAL-USDT | −0.072% | +0.0340% | 4h | $831K | $740K | 75x | as long as short |
| Orderly PERP_VIRTUAL_USDC | −0.043% | +0.0074% | 4h | $14K | $1.5M | 10x | as long as short |
| Deribit VIRTUAL_USDC-PERPETUALlong | 0.000% | −0.0608% | 1h | $15K | $20K | 10x | |
| GMX VIRTUAL/USD [WBTC.b-USDC] | +0.040% | L +0.0297% / S −0.0228% | 1h | $29K | — | 100x | as long as short |
| gTrade (Gains Network) VIRTUAL/USD | +0.047% | L +0.0007% / S −0.0004% | 1h | $12K | — | 150x | as long as short |
| SoDEX VIRTUAL-USD | +0.050% | −0.0281% | 1h | $214 | $8K | 5x | as long as short |
| Backpack VIRTUAL_USDC_PERP | +0.157% | +0.0100% | 1h | $228K | $167K | 10x | as long as short |
| Kraken Futures PF_VIRTUALUSD | +0.193% | −0.0415% | 1h | $443K | $525K | 50x | as long as short |