Spread before costs (cost unknown: a leg has no order-book sample)+0.022%
7d average—if it closes, per $10,000$2funding while held, a day−$6.04
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | MEXC VIRTUAL_USDT | 0.7124 | 0.0100 | pay 0.0050% / 4h | 2h 37m | $16.7M | $3.6M | 100x |
| Short | Phoenix VIRTUAL | 0.7126 | −0.0101 | pay 0.0013% / 1h | 37m 30s | $12K | $42K | 5x |
MEXC VIRTUAL_USDT
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
- $2.25
- Funding while held
- −$6.04
- Slippage, 4 orders
- no order book: not counted
- Fee MEXC: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$10.79
- Spread needed to break even
- 0.070%
Slippage unknown: MEXC: live order book, 7 min ago; Phoenix: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0201%
- Per $10,000 a day
- −$6.04
- 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 MEXC live order book, 7 min ago | 0.70 bp | 3.2 bp −$3 | 6.8 bp −$68 | 64.0 bp −$6,395 | 250.5 bp −$125.3K |
| 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
Variational Omni0.7112+5.457%ApeX Omni0.7120+5.575%edgeX0.7121+5.586%
Injective
Variational Omni
ApeX OmniMEXC0.7124+5.635%
Phoenix0.7126+5.658%
Aevo0.7127+5.678%Polymarket Perps0.7127+5.679%Extended0.7128+5.700%Orderly0.7129+5.709%SunX0.7129+5.709%Reya0.7130+5.720%OKX0.7130+5.724%01 Exchange0.7130+5.724%Deribit0.7130+5.724%Bybit0.7131+5.738%BloFin0.7131+5.738%Lighter0.7131+5.741%SoDEX0.7131+5.746%Binance0.7132+5.753%KuCoin0.7132+5.753%BingX0.7132+5.753%GMX0.7132+5.757%gTrade (Gains Network)0.7133+5.767%Gate0.7134+5.783%Pacifica0.7135+5.798%Bitget0.7136+5.813%Backpack0.7136+5.813%Aster0.7137+5.822%Kraken Futures0.7138+5.843%Hyperliquid0.7146+5.956%Coinbase International0.7152+6.050%
Aevo
Polymarket Perps
Extended
Orderly
SunX
Reya
OKX
Deribit
Bybit
BloFin
Lighter
SoDEX
Binance
KuCoin
BingX
GMX
gTrade (Gains Network)
Gate
Pacifica
Bitget
Backpack
Aster
Kraken Futures
Hyperliquid
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 | −5.334% | +0.0033% | 1h | $43 | $105K | 5.5x | as long as short |
| Variational Omni VIRTUAL | −0.168% | +0.0070% | 4h | $714K | $571K | — | as long as short |
| ApeX Omni VIRTUALUSDT | −0.056% | +0.0079% | 1h | $42K | $226K | 50x | as long as short |
| edgeX VIRTUALUSDC | −0.046% | +0.0100% | 4h | $19K | $251K | 10x | as long as short |
| MEXC VIRTUAL_USDTlong | 0.000% | +0.0100% | 4h | $16.7M | $3.6M | 100x | |
| Phoenix VIRTUALshort | +0.022% | −0.0101% | 1h | $12K | $42K | 5x | |
| Aevo VIRTUAL-PERP | +0.041% | +0.0104% | 1h | $18K | $505 | 3x | as long as short |
| Polymarket Perps VIRTUAL-USD | +0.042% | −0.0447% | 1h | $34K | $708K | 5x | as long as short |
| Extended VIRTUAL-USD | +0.061% | +0.0104% | 1h | $55K | $240K | 10x | as long as short |
| Orderly PERP_VIRTUAL_USDC | +0.070% | +0.0083% | 4h | $14K | $1.5M | 10x | as long as short |