Spread before costs (cost unknown: a leg has no order-book sample)−0.195%
7d average—if it closes, per $10,000$20funding while held, a day−$11.64
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX VIRTUAL/USD [WBTC.b-USDC] | 0.7119 | L +0.0298% / S −0.0228% | pay 0.0037% / 1h | 26m 42s | $30K | — | 100x |
| Short | Phoenix VIRTUAL | 0.7105 | −0.0090 | pay 0.0011% / 1h | 26m 42s | $11K | $46K | 5x |
GMX VIRTUAL/USD [WBTC.b-USDC]
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
- −$19.53
- Funding while held
- −$11.64
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$50.17
- Spread needed to break even
- 0.190%
Slippage unknown: GMX: no order-book sample; Phoenix: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0388%
- Per $10,000 a day
- −$11.64
- 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 Phoenix no order-book sample | — | — | — | — | — |
GMX 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.Injective0.6744cheapest
Extended0.7095+5.206%Lighter0.7096+5.212%OKX0.7098+5.249%Gate0.7098+5.249%Bybit0.7099+5.264%BingX0.7099+5.264%Binance0.7100+5.279%Variational Omni0.7101+5.299%KuCoin0.7102+5.308%ApeX Omni0.7102+5.308%Aster0.7103+5.319%MEXC0.7103+5.323%
Injective
Extended
Lighter
OKX
Gate
Bybit
BingX
Binance
Variational Omni
KuCoin
ApeX Omni
Aster
MEXCPhoenix0.7105+5.350%
Pacifica0.7106+5.364%Bitget0.7107+5.383%Hyperliquid0.7109+5.406%Reya0.7112+5.462%SoDEX0.7113+5.469%BloFin0.7113+5.472%edgeX0.7113+5.475%Aevo0.7113+5.476%01 Exchange0.7114+5.486%SunX0.7114+5.486%Orderly0.7115+5.501%Deribit0.7116+5.516%Backpack0.7117+5.531%
Pacifica
Bitget
Hyperliquid
Reya
SoDEX
BloFin
Aevo
SunX
Orderly
Deribit
BackpackGMX0.7119+5.556%
gTrade (Gains Network)0.7121+5.587%Kraken Futures0.7123+5.624%Polymarket Perps0.7125+5.652%Coinbase International0.7131+5.738%
gTrade (Gains Network)
Kraken Futures
Polymarket Perps
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 | −5.264% | +0.0033% | 1h | $43 | $28K | 5.5x | as long as short |
| Extended VIRTUAL-USD | −0.331% | +0.0104% | 1h | $55K | $244K | 10x | as long as short |
| Lighter VIRTUAL | −0.326% | −0.0064% | 1h | $322K | $412K | 5x | as long as short |
| OKX VIRTUAL-USDT-SWAP | −0.291% | +0.0100% | 4h | $2.7M | $10.3M | 20x | as long as short |
| Gate VIRTUAL_USDT | −0.291% | +0.0100% | 4h | $1.5M | $3.1M | 75x | as long as short |
| Bybit VIRTUALUSDT | −0.277% | +0.0100% | 4h | $15.7M | $16.0M | 50x | as long as short |
| BingX VIRTUAL-USDT | −0.277% | +0.0100% | 4h | — | $8.1M | — | as long as short |
| Binance VIRTUALUSDT | −0.263% | +0.0100% | 4h | $16.5M | $37.2M | 75x | as long as short |
| Variational Omni VIRTUAL | −0.243% | +0.0038% | 4h | $599K | $803K | — | as long as short |
| KuCoin VIRTUALUSDTM | −0.235% | +0.0100% | 4h | $3.0M | $4.3M | 50x | as long as short |