Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0244%/8h= −26.7% APRpaid last 24h −0.070%

Price spread now: 01 Exchange against OKX−0.156%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on OKX Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and 01 Exchange is 0.156% cheaper against OKX than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX VIRTUAL-USDT-SWAP	0.7061	0.0100	pay 0.0050% / 4h	2h 34m	$2.8M	$9.8M	20x
Short	01 Exchange VIRTUALUSD	0.7050	−0.0144	pay 0.0018% / 1h	34m 38s	$2K	$106	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.156%Rate

Funding earned: −$51.24
Price spread: −0.156% → 0.000%: −$15.58
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$83.82
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 3 min ago; 01 Exchange: no order-book sample. Net counts fees only.

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	0.71 bp	11.6 bp −$12	35.9 bp −$359	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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 on 33 venues

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
01 Exchange VIRTUALUSDshort	−0.0144%	1h	0.7050	−0.156%	$2K	$106	10x
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7095	+0.477%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7072	+0.160%	$11K	$36K	5x	as long as short
Lighter VIRTUAL	−0.0024%	1h	0.7059	−0.030%	$321K	$402K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7099	+0.538%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7096	+0.498%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	+0.793%	$46	$88K	5.5x	as long as short
Bybit VIRTUALUSDT	+0.0042%	4h	0.7054	−0.099%	$16.2M	$19.0M	50x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0076%	4h	0.7096	+0.496%	$14K	$1.4M	10x	as long as short
SoDEX VIRTUAL-USD	+0.0095%	1h	0.7095	+0.474%	$1K	$9K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VIRTUAL	+0.0100%	1h	0.7077	+0.232%	$8.7M	$4.0M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7067	+0.083%	$91K	$299K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7066	+0.076%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7057	−0.057%	$15.9M	$41.7M	75x	as long as short
OKX VIRTUAL-USDT-SWAPlong	+0.0100%	4h	0.7061	long leg	$2.8M	$9.8M	20x
Gate VIRTUAL_USDT	+0.0100%	4h	0.7065	+0.057%	$1.5M	$3.4M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7064	+0.042%	$15.4M	$4.9M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7067	+0.085%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7062	+0.014%	$6.0M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7064	+0.042%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7090	+0.411%	$237K	$210K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7068	+0.105%	$529K	$910K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7070	+0.122%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7075	+0.199%	$625K	$1.0M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7074	+0.184%	$40K	$237K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7096	+0.493%	$52K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7097	+0.510%	$2K	$1.4M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7059	−0.034%	$56K	$302K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7094	+0.465%	$18K	—	3x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0281%	1h	0.7099	+0.532%	$525K	$763K	50x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0312% / S −0.0259%	1h	0.7096	+0.499%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7091	+0.425%	$791K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0432%	1h	0.7162	+1.430%	$199K	$104K	50x	as long as short