Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Binance against Extended+0.013%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$490.494% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 4 days (all we have)+0.021%+$2 · spread now +0.013%, 7d avg +0.032%

Together, before fees+0.012%+ Points / potential airdropExtended: Active · farm board+$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended VIRTUAL-USD	0.7149	0.0104	pay 0.0013% / 1h	59m 58s	$55K	$308K	10x
Short	Binance VIRTUALUSDT	0.7150	0.0100	get 0.0050% / 4h	3h 59m	$16.1M	$41.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Extended. 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 ExtendedbpFee BinancebpOrdersPrice spread, now +0.013%Rate

Funding earned: −$0.84
Price spread: +0.013% → +0.032%: −$1.9
Slippage, 4 orders: −$34.37
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$52.11
Costs to cover: 0.494%
Break-even: never at this rate

Slippage from Extended: live order book, 37 min ago; Binance: live order book, 12 min ago.

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 Extended live order book, 37 min ago	2.04 bp	14.6 bp −$15	180.2 bp −$1,802	doesn't fit	doesn't fit
Sell Binance live order book, 12 min ago	0.70 bp	9.0 bp −$9	23.4 bp −$234	101.6 bp −$10.2K	doesn't fit

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
Kraken Futures PF_VIRTUALUSD	−0.0336%	1h	0.7151	+0.020%	$515K	$743K	50x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7144	−0.070%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0067%	1h	0.7153	+0.049%	$11K	$36K	5x	as long as short
Variational Omni VIRTUAL	−0.0044%	4h	0.7142	−0.105%	$535K	$837K	—	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7147	−0.029%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0006%	1h	0.7148	−0.009%	$22K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.449%	$46	$88K	5.5x	as long as short
Lighter VIRTUAL	+0.0040%	1h	0.7146	−0.047%	$322K	$403K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0073%	4h	0.7146	−0.043%	$16K	$1.8M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7154	+0.063%	$93K	$302K	20x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7150	+0.014%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDTshort	+0.0100%	4h	0.7150	+0.013%	$16.1M	$41.8M	75x
Bybit VIRTUALUSDT	+0.0100%	4h	0.7150	+0.013%	$16.3M	$18.8M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7156	+0.097%	$2.9M	$10.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7153	+0.055%	$1.5M	$3.4M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7147	−0.029%	$15.6M	$5.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7151	+0.027%	$3.3M	$4.5M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7152	+0.041%	$6.0M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7150	+0.013%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7154	+0.069%	$237K	$175K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7145	−0.055%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7153	+0.059%	$641K	$1.2M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7147	−0.029%	$40K	$235K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7147	−0.026%	$47K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7143	−0.085%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7145	−0.061%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USDlong	+0.0104%	1h	0.7149	long leg	$55K	$308K	10x
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7147	−0.025%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0313% / S −0.0258%	1h	0.7146	−0.040%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7144	−0.071%	$780K	$1.0M	75x	as long as short
Hyperliquid VIRTUAL	+0.0345%	1h	0.7162	+0.186%	$8.8M	$3.8M	5x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0480%	1h	0.7173	+0.335%	$200K	$100K	50x	as long as short
01 Exchange VIRTUALUSD	+0.1472%	1h	0.7281	+1.845%	$2K	$106	10x	as long as short