After costs, if the gap returns to its 7d average, $10k−$41
spread now−0.163%7d average−0.094%fees + slippage, in and out−$34spread needed0.344%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid VIRTUAL | 0.6973 | 0.0100 | pay 0.0013% / 1h | 0m 30s | $8.6M | $3.7M | 5x |
| Short | Lighter VIRTUAL | 0.6962 | −0.0160 | pay 0.0020% / 1h | 0m 30s | $316K | $391K | 5x |
Hyperliquid VIRTUAL
Lighter 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
- −$16.35
- Funding while held
- −$7.8
- Slippage, 4 orders
- −$25.44
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$58.59
- Spread needed to break even
- 0.344%
Slippage from Hyperliquid: live order book, 3 min ago; Lighter: live order book, 31 min ago.
Cost of waiting
funding view- Funding /8h
- −0.0260%
- Per $10,000 a day
- −$7.80
- 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 Hyperliquid live order book, 3 min ago | 0.65 bp | 9.2 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 31 min ago | 4.28 bp | 5.9 bp −$6 | 43.9 bp −$439 | doesn't fit | doesn't fit |
VIRTUAL price on every exchange
against the cheapest. Click to use as the short leg.Injective0.6744cheapestApeX Omni0.6941+2.921%edgeX0.6942+2.936%Phoenix0.6945+2.977%Binance0.6957+3.158%01 Exchange0.6958+3.173%
Injective
ApeX Omni
Phoenix
BinanceLighter0.6962+3.225%
Extended0.6962+3.229%Bybit0.6963+3.247%OKX0.6963+3.247%BloFin0.6964+3.262%Reya0.6965+3.271%BingX0.6965+3.277%Polymarket Perps0.6966+3.290%MEXC0.6966+3.292%Aevo0.6967+3.300%KuCoin0.6967+3.307%Bitget0.6967+3.307%SoDEX0.6967+3.307%Variational Omni0.6967+3.308%Gate0.6968+3.321%Orderly0.6968+3.321%SunX0.6970+3.351%Deribit0.6970+3.351%Aster0.6970+3.356%gTrade (Gains Network)0.6970+3.356%GMX0.6971+3.360%Pacifica0.6971+3.366%
Extended
Bybit
OKX
BloFin
Reya
BingX
Polymarket Perps
MEXC
Aevo
KuCoin
Bitget
SoDEX
Variational Omni
Gate
Orderly
SunX
Deribit
Aster
gTrade (Gains Network)
GMX
PacificaHyperliquid0.6973+3.394%
Backpack0.6973+3.396%Coinbase International0.6975+3.425%Kraken Futures0.6980+3.497%
Backpack
Coinbase International
Kraken FuturesVIRTUAL on 32 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective VIRTUAL/USDC PERP | −3.283% | +0.0033% | 1h | $43 | $28K | 5.5x | as long as short |
| ApeX Omni VIRTUALUSDT | −0.457% | +0.0065% | 1h | $40K | $241K | 50x | as long as short |
| edgeX VIRTUALUSDC | −0.443% | +0.0100% | 4h | $18K | $257K | 10x | as long as short |
| Phoenix VIRTUAL | −0.403% | −0.0159% | 1h | $11K | $54K | 5x | as long as short |
| Binance VIRTUALUSDT | −0.228% | +0.0100% | 4h | $15.7M | $36.0M | 75x | as long as short |
| 01 Exchange VIRTUALUSD | −0.214% | −0.0168% | 1h | $2K | $131 | 10x | as long as short |
| Lighter VIRTUALshort | −0.163% | −0.0160% | 1h | $316K | $391K | 5x | |
| Extended VIRTUAL-USD | −0.159% | +0.0104% | 1h | $54K | $243K | 10x | as long as short |
| Bybit VIRTUALUSDT | −0.142% | −0.0206% | 4h | $15.2M | $15.5M | 50x | as long as short |
| OKX VIRTUAL-USDT-SWAP | −0.142% | +0.0100% | 4h | $2.7M | $9.7M | 20x | as long as short |