Spread before costs (cost unknown: a leg has no order-book sample)−0.051%
7d average—if it closes, per $10,000$5funding while held, a day−$5.89
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX VIRTUAL/USD [WBTC.b-USDC] | 0.7037 | L +0.0296% / S −0.0228% | pay 0.0037% / 1h | 17m 08s | $30K | — | 100x |
| Short | Bybit VIRTUALUSDT | 0.7033 | 0.0100 | get 0.0050% / 4h | 17m 08s | $15.6M | $16.0M | 50x |
GMX VIRTUAL/USD [WBTC.b-USDC]
Bybit VIRTUALUSDTPrice 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
- −$5.12
- Funding while held
- −$5.89
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$34.01
- Spread needed to break even
- 0.230%
Slippage unknown: GMX: no order-book sample; Bybit: live order book, 3 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0196%
- Per $10,000 a day
- −$5.89
- 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 GMX no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 3 min ago | 0.71 bp | 10.9 bp −$11 | 24.9 bp −$249 | 136.1 bp −$13.6K | doesn't fit |
GMX: 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.Injective0.6744cheapestVariational Omni0.7001+3.809%edgeX0.7011+3.959%Phoenix0.7025+4.168%Extended0.7030+4.243%SoDEX0.7030+4.248%OKX0.7032+4.270%BloFin0.7032+4.270%Aevo0.7033+4.283%
Injective
Variational Omni
Phoenix
Extended
SoDEX
OKX
BloFin
AevoBybit0.7033+4.285%
Orderly0.7033+4.285%Deribit0.7033+4.285%Reya0.7033+4.292%Lighter0.7034+4.297%MEXC0.7034+4.300%Binance0.7035+4.315%SunX0.7035+4.315%01 Exchange0.7036+4.330%BingX0.7036+4.330%
Orderly
Deribit
Reya
Lighter
MEXC
Binance
SunX
BingXGMX0.7037+4.339%
KuCoin0.7037+4.345%gTrade (Gains Network)0.7038+4.353%Pacifica0.7038+4.361%Aster0.7039+4.367%Gate0.7039+4.374%Bitget0.7039+4.374%Polymarket Perps0.7040+4.397%Backpack0.7041+4.404%ApeX Omni0.7042+4.419%Hyperliquid0.7043+4.434%Kraken Futures0.7047+4.486%Coinbase International0.7055+4.612%
KuCoin
gTrade (Gains Network)
Pacifica
Aster
Gate
Bitget
Polymarket Perps
Backpack
ApeX Omni
Hyperliquid
Kraken Futures
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 | −4.158% | +0.0033% | 1h | $43 | $70K | 5.5x | as long as short |
| Variational Omni VIRTUAL | −0.507% | −0.0031% | 4h | $591K | $801K | — | as long as short |
| edgeX VIRTUALUSDC | −0.364% | +0.0100% | 4h | $18K | $255K | 10x | as long as short |
| Phoenix VIRTUAL | −0.163% | −0.0113% | 1h | $11K | $42K | 5x | as long as short |
| Extended VIRTUAL-USD | −0.092% | +0.0104% | 1h | $55K | $244K | 10x | as long as short |
| SoDEX VIRTUAL-USD | −0.087% | +0.0100% | 1h | $204 | $8K | 5x | as long as short |
| OKX VIRTUAL-USDT-SWAP | −0.065% | +0.0100% | 4h | $2.8M | $10.3M | 20x | as long as short |
| BloFin VIRTUAL-USDT | −0.065% | +0.0340% | 4h | $839K | $778K | 75x | as long as short |
| Aevo VIRTUAL-PERP | −0.054% | +0.0104% | 1h | $18K | $505 | 3x | as long as short |
| Bybit VIRTUALUSDTshort | −0.051% | +0.0100% | 4h | $15.6M | $16.0M | 50x |