VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0026%/8h= −2.8% APRnext payment −$0.03 per $10,000 · paid last 24h −0.016%

Price spread now: Extended against Hyperliquid−0.121%7-day average −0.137% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

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

costs, in and out, $10k−$520.522% of the position

Long on Hyperliquid Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 4 days (all we have)−0.019%−$2 · spread now −0.121%, 7d avg −0.137%

Together, before fees−0.073%+ Points / potential airdropHyperliquid: Season 2 · Extended: Active · farm board−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.137%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid VIRTUAL	0.7336	0.0130	pay 0.0016% / 1h	41m 08s	$9.1M	$4.0M	5x
Short	Extended VIRTUAL-USD	0.7327	0.0104	get 0.0013% / 1h	41m 08s	$58K	$249K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Hyperliquid. 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 HyperliquidbpFee ExtendedbpOrdersPrice spread, now −0.121%Rate

Funding earned: −$5.44
Price spread: −0.121% → −0.137%: $1.57
Slippage, 4 orders: −$38.22
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$56.09
Costs to cover: 0.522%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; Extended: live order book, 31 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 Hyperliquid live order book, 11 min ago	0.82 bp	11.0 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 31 min ago	2.75 bp	15.6 bp −$16	152.0 bp −$1,520	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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7333	−0.044%	$25	—	10x	as long as short
Phoenix VIRTUAL	−0.0109%	1h	0.7302	−0.462%	$11K	$40K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0088%	1h	0.7333	−0.042%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7330	−0.083%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7332	−0.060%	$9K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.987%	$46	$88K	5.5x	as long as short
Lighter VIRTUAL	+0.0056%	1h	0.7323	−0.172%	$332K	$417K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0088%	4h	0.7330	−0.083%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7335	−0.015%	$200K	$158K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7335	−0.012%	$73K	$45K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VIRTUALUSDT	+0.0100%	4h	0.7325	−0.147%	$16.9M	$39.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7324	−0.165%	$16.4M	$17.0M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7319	−0.233%	$2.9M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7330	−0.083%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7321	−0.206%	$18.5M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7332	−0.056%	$4.4M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7331	−0.070%	$6.4M	$5.6M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7328	−0.110%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7329	−0.097%	$248K	$166K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7333	−0.037%	$548K	$885K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7304	−0.433%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7318	−0.252%	$650K	$916K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7299	−0.506%	$40K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7339	+0.045%	$45K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7335	−0.015%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7330	−0.087%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USDshort	+0.0104%	1h	0.7327	−0.121%	$58K	$249K	10x
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7329	−0.104%	$18K	—	3x	as long as short
Hyperliquid VIRTUALlong	+0.0130%	1h	0.7336	long leg	$9.1M	$4.0M	5x
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0300% / S −0.0228%	1h	0.7330	−0.083%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7326	−0.138%	$829K	$846K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7366	+0.408%	$200K	$92K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0737%	1h	0.7344	+0.113%	$606K	$634K	50x	as long as short