Spread before costs (cost unknown: a leg has no order-book sample)−0.094%
7d average—if it closes, per $10,000$9funding while held, a day−$0.79
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter VIRTUAL | 0.7111 | −0.0064 | get 0.0008% / 1h | 26m 57s | $323K | $412K | 5x |
| Short | Phoenix VIRTUAL | 0.7105 | −0.0090 | pay 0.0011% / 1h | 26m 57s | $11K | $46K | 5x |
Lighter VIRTUAL
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
- −$9.42
- Funding while held
- −$0.79
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$17.22
- Spread needed to break even
- 0.070%
Slippage unknown: Lighter: live order book, 10 min ago; Phoenix: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0026%
- Per $10,000 a day
- −$0.79
- 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 Lighter live order book, 10 min ago | 2.61 bp | 6.6 bp −$7 | 55.3 bp −$553 | doesn't fit | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
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
Bybit0.7093+5.175%Binance0.7095+5.205%Extended0.7095+5.206%BingX0.7096+5.219%OKX0.7097+5.234%MEXC0.7097+5.234%Gate0.7098+5.249%Variational Omni0.7101+5.299%ApeX Omni0.7102+5.308%Bitget0.7103+5.323%
Injective
Bybit
Binance
Extended
BingX
OKX
MEXC
Gate
Variational Omni
ApeX Omni
BitgetPhoenix0.7105+5.350%
KuCoin0.7106+5.368%Aster0.7111+5.439%
KuCoin
AsterLighter0.7111+5.449%
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%Pacifica0.7115+5.505%Deribit0.7116+5.516%Backpack0.7117+5.531%GMX0.7119+5.556%gTrade (Gains Network)0.7121+5.587%Hyperliquid0.7121+5.593%Kraken Futures0.7123+5.624%Polymarket Perps0.7125+5.652%Coinbase International0.7131+5.738%
Reya
SoDEX
BloFin
Aevo
SunX
Orderly
Pacifica
Deribit
Backpack
GMX
gTrade (Gains Network)
Hyperliquid
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 | −5.168% | +0.0033% | 1h | $43 | $28K | 5.5x | as long as short |
| Bybit VIRTUALUSDT | −0.260% | +0.0100% | 4h | $15.7M | $16.0M | 50x | as long as short |
| Binance VIRTUALUSDT | −0.232% | +0.0100% | 4h | $16.5M | $37.2M | 75x | as long as short |
| Extended VIRTUAL-USD | −0.231% | +0.0104% | 1h | $55K | $244K | 10x | as long as short |
| BingX VIRTUAL-USDT | −0.218% | +0.0100% | 4h | — | $8.1M | — | as long as short |
| OKX VIRTUAL-USDT-SWAP | −0.204% | +0.0100% | 4h | $2.7M | $10.3M | 20x | as long as short |
| MEXC VIRTUAL_USDT | −0.204% | +0.0100% | 4h | $16.0M | $4.1M | 100x | as long as short |
| Gate VIRTUAL_USDT | −0.190% | +0.0100% | 4h | $1.5M | $3.1M | 75x | as long as short |
| Variational Omni VIRTUAL | −0.142% | +0.0038% | 4h | $599K | $803K | — | as long as short |
| ApeX Omni VIRTUALUSDT | −0.134% | +0.0100% | 1h | $40K | $241K | 50x | as long as short |