Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0112%/8h= −12.3% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against OKX−0.155%90s7-day average +0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$530.527% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.225%+$23 · spread now −0.155%, 7d avg +0.027%

Together, before fees+0.224%+$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and ApeX Omni is 0.181% cheaper against OKX than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of +0.027%). Swap the legs. The two prices were read 90 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX VIRTUAL-USDT-SWAP	0.7113	0.0100	pay 0.0050% / 4h	48m 00s	$2.8M	$9.6M	20x
Short	ApeX Omni VIRTUALUSDT	0.7102	−0.0012	pay 0.0002% / 1h	48m 00s	$40K	$234K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now −0.155%Rate

Funding earned: −$23.6
Price spread: −0.155% → +0.027%: −$18.13
Slippage, 4 orders: −$32.66
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$94.39
Costs to cover: 0.527%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; ApeX Omni: live order book, 56 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 OKX live order book, 3 min ago	1.41 bp	12.0 bp −$12	39.4 bp −$394	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 56 min ago	5.60 bp	14.8 bp −$15	94.2 bp −$942	doesn't fit	doesn't fit

VIRTUAL on 33 exchanges

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
Phoenix VIRTUAL	−0.0146%	1h	0.7098	−0.204%	$11K	$32K	5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7096	−0.236%	$24	—	10x	as long as short
Lighter VIRTUAL	−0.0072%	1h	0.7104	−0.124%	$323K	$368K	5x	as long as short
SoDEX VIRTUAL-USD	−0.0063%	1h	0.7105	−0.112%	$1K	$9K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0031%	1h	0.7107	−0.084%	$25K	$40K	10x	as long as short
ApeX Omni VIRTUALUSDTshort	−0.0012%	1h	0.7102	−0.155%	$40K	$234K	50x
Kraken Futures PF_VIRTUALUSD	−0.0010%	1h	0.7115	+0.026%	$562K	$746K	50x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0006%	1h	0.7107	−0.089%	$22K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	+0.056%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0077%	4h	0.7105	−0.112%	$14K	$1.7M	10x	as long as short

Show all 33 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7111	−0.022%	$99K	$306K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7114	+0.014%	$70K	$39K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7108	−0.070%	$15.8M	$40.3M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7111	−0.028%	$16.7M	$18.4M	50x	as long as short
OKX VIRTUAL-USDT-SWAPlong	+0.0100%	4h	0.7113	long leg	$2.8M	$9.6M	20x
Gate VIRTUAL_USDT	+0.0100%	4h	0.7108	−0.070%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7109	−0.056%	$14.3M	$5.0M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7111	−0.028%	$3.4M	$4.5M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7114	+0.014%	$6.1M	$5.1M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7107	−0.084%	—	$7.6M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7113	0.000%	$243K	$182K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7101	−0.174%	$673K	$549K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7100	−0.190%	$19K	$253K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7102	−0.155%	$632K	$1.6M	10x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7105	−0.119%	$36K	$1.0M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7111	−0.028%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7111	−0.027%	$56K	$348K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7127	+0.199%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0196%	1h	0.7120	+0.098%	$8.8M	$3.3M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0311% / S −0.0258%	1h	0.7105	−0.109%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7092	−0.295%	$772K	$897K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0520%	1h	0.7167	+0.759%	$201K	$86K	50x	as long as short
01 Exchange VIRTUALUSD	+1.4400%	1h	0.7432	+4.485%	$2K	$393	10x	as long as short