VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.00 per $10,000 · paid last 24h +0.016%

Price spread now: Hyperliquid against Extended+0.103%7-day average +0.136% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$520.518% of the position

Long on Extended Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.058%+$6 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now +0.103%, 7d avg +0.136%

Together, before fees+0.098%+ Points / potential airdropExtended: Active · Hyperliquid: Season 2 · farm board+$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.033% cheaper against Extended than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.136%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended VIRTUAL-USD	0.7139	0.0104	pay 0.0013% / 1h	38m 14s	$53K	$246K	10x
Short	Hyperliquid VIRTUAL	0.7147	0.0100	get 0.0013% / 1h	38m 14s	$8.7M	$3.6M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.103%Rate

Funding earned: −$0.84
Price spread: +0.103% → +0.136%: −$3.29
Slippage, 4 orders: −$37.79
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$55.93
Costs to cover: 0.518%
Break-even: never at this rate

Slippage from Extended: live order book, 49 min ago; Hyperliquid: live order book, 4 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, 49 min ago	2.53 bp	14.5 bp −$15	204.1 bp −$2,041	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	0.56 bp	12.2 bp −$12	doesn't fit	doesn't fit	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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0589%	1h	0.7142	+0.039%	$15K	$40K	10x	as long as short
Injective VIRTUAL/USDC PERP	−0.0160%	1h	0.7117	−0.312%	$46	$88K	5.5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7136	−0.041%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7114	−0.356%	$11K	$45K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0096%	1h	0.7136	−0.046%	$2K	$131	10x	as long as short
Variational Omni VIRTUAL	+0.0001%	4h	0.7133	−0.094%	$520K	$874K	—	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7145	+0.082%	$12K	—	150x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0082%	4h	0.7143	+0.053%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7139	−0.004%	$325K	$391K	5x	as long as short
Hyperliquid VIRTUALshort	+0.0100%	1h	0.7147	+0.103%	$8.7M	$3.6M	5x

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7142	+0.032%	$194K	$81K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7141	+0.031%	$74K	$42K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7143	+0.047%	$16.4M	$36.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7141	+0.025%	$15.4M	$15.4M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7143	+0.053%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7141	+0.025%	$1.5M	$2.9M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7141	+0.025%	$17.2M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7146	+0.095%	$3.1M	$3.9M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7151	+0.165%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7138	−0.018%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7130	−0.130%	$234K	$158K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7140	+0.009%	$19K	$255K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7138	−0.023%	$632K	$974K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7147	+0.109%	$41K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7140	+0.016%	$33K	$783K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7144	+0.067%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7140	+0.013%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USDlong	+0.0104%	1h	0.7139	long leg	$53K	$246K	10x
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7144	+0.064%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0297% / S −0.0228%	1h	0.7146	+0.088%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7126	−0.186%	$810K	$799K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7152	+0.179%	$195K	$94K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0526%	1h	0.7151	+0.159%	$534K	$539K	50x	as long as short