data as of
Settings8H · net · $10k
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Price arb /

VIRTUAL

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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Spread before costs (cost unknown: a leg has no order-book sample)−5.142%
7d average—if it closes, per $10,000$514funding while held, a day+$2.68
Long on LighterShort on Injective
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter VIRTUAL0.7110−0.0056get 0.0007% / 1h27m 49s$323K$412K5x
ShortInjective VIRTUAL/USDC PERP0.67440.0033get 0.0004% / 1h27m 49s$43$28K5.5x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$514.23
Funding while held
$2.68
Slippage, 4 orders
no order book: not counted
Fee Lighter: 0 bp × 2 orders
$0
Fee Injective: 0.01 bp × 2 orders
−$0.02
Net
−$511.57
Spread needed to break even
0.000%
Slippage unknown: Lighter: live order book, 9 min ago; Injective: no order-book sample. Net counts fees only.

Cost of waiting

funding view
Funding /8h
+0.0089%
Per $10,000 a day
+$2.68
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Lighter live order book, 9 min ago2.61 bp6.6 bp −$755.3 bp −$553doesn't fitdoesn't fit
Sell Injective no order-book sample—————
Injective: 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
Phoenix0.7092+5.165%Variational Omni0.7101+5.299%BloFin0.7104+5.338%Bybit0.7106+5.368%OKX0.7106+5.368%Extended0.7107+5.378%MEXC0.7107+5.383%SoDEX0.7108+5.391%BingX0.7108+5.397%Binance0.7109+5.412%
Lighter0.7110+5.421%
Pacifica0.7110+5.431%Aevo0.7111+5.443%01 Exchange0.7112+5.457%Reya0.7112+5.458%Gate0.7113+5.472%KuCoin0.7113+5.472%Bitget0.7113+5.472%Orderly0.7113+5.472%edgeX0.7113+5.475%SunX0.7115+5.501%Deribit0.7115+5.501%Aster0.7116+5.520%Polymarket Perps0.7118+5.541%Backpack0.7118+5.546%Hyperliquid0.7119+5.568%ApeX Omni0.7120+5.575%gTrade (Gains Network)0.7122+5.601%GMX0.7122+5.604%Kraken Futures0.7124+5.641%Coinbase International0.7131+5.738%

VIRTUAL on 32 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective VIRTUAL/USDC PERPshort−5.142%+0.0033%1h$43$28K5.5x
Phoenix VIRTUAL−0.243%−0.0090%1h$11K$46K5xas long as short
Variational Omni VIRTUAL−0.115%+0.0038%4h$599K$803K—as long as short
BloFin VIRTUAL-USDT−0.079%+0.0340%4h$828K$792K75xas long as short
Bybit VIRTUALUSDT−0.051%+0.0100%4h$15.7M$16.0M50xas long as short
OKX VIRTUAL-USDT-SWAP−0.051%+0.0100%4h$2.8M$10.3M20xas long as short
Extended VIRTUAL-USD−0.041%+0.0104%1h$55K$244K10xas long as short
MEXC VIRTUAL_USDT−0.037%+0.0100%4h$16.0M$4.1M100xas long as short
SoDEX VIRTUAL-USD−0.028%−0.0094%1h$212$8K5xas long as short
BingX VIRTUAL-USDT−0.023%+0.0100%4h—$8.1M—as long as short
Show all 32 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Binance VIRTUALUSDT−0.008%+0.0100%4h$16.5M$37.2M75xas long as short
Lighter VIRTUALlong0.000%−0.0056%1h$323K$412K5x
Pacifica VIRTUAL+0.010%+0.0100%1h$73K$41K5xas long as short
Aevo VIRTUAL-PERP+0.021%+0.0104%1h$18K$5053xas long as short
01 Exchange VIRTUALUSD+0.034%−0.0184%1h$2K$13110xas long as short
Reya VIRTUALRUSDPERP+0.035%−0.0139%1h$24—10xas long as short
Gate VIRTUAL_USDT+0.048%+0.0100%4h$1.5M$3.1M75xas long as short
KuCoin VIRTUALUSDTM+0.048%+0.0100%4h$3.0M$4.3M50xas long as short
Bitget VIRTUALUSDT+0.048%+0.0100%4h$6.1M$5.6M25xas long as short
Orderly PERP_VIRTUAL_USDC+0.048%+0.0063%4h$14K$1.5M10xas long as short
edgeX VIRTUALUSDC+0.051%+0.0100%4h$18K$257K10xas long as short
SunX VIRTUAL-USDT+0.076%+0.0100%4h$2K$1.3M20xas long as short
Deribit VIRTUAL_USDC-PERPETUAL+0.076%−0.0031%1h$15K$40K10xas long as short
Aster VIRTUALUSDT+0.094%+0.0100%4h$184K$71K20xas long as short
Polymarket Perps VIRTUAL-USD+0.114%+0.0100%1h$35K$799K5xas long as short
Backpack VIRTUAL_USDC_PERP+0.118%+0.0100%1h$234K$178K10xas long as short
Hyperliquid VIRTUAL+0.139%+0.0100%1h$8.8M$3.7M5xas long as short
ApeX Omni VIRTUALUSDT+0.146%+0.0100%1h$41K$241K50xas long as short
gTrade (Gains Network) VIRTUAL/USD+0.170%L +0.0007% / S −0.0004%1h$12K—150xas long as short
GMX VIRTUAL/USD [WBTC.b-USDC]+0.173%L +0.0297% / S −0.0228%1h$30K—100xas long as short
Kraken Futures PF_VIRTUALUSD+0.209%+0.0767%1h$519K$633K50xas long as short
Coinbase International VIRTUAL-PERP-INTX+0.301%+0.0464%1h$195K$119K50xas long as short