Spread before costs (cost unknown: a leg has no order-book sample)+0.257%
7d average+0.007%if it closes, per $10,000$26funding while held, a day+$0.94
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_VIRTUAL_USDC | 0.7116 | 0.0069 | pay 0.0034% / 4h | 1h 06m | $14K | $1.5M | 10x |
| Short | Binance VIRTUALUSDT | 0.7134 | 0.0100 | get 0.0050% / 4h | 1h 06m | $16.6M | $36.2M | 75x |
Orderly PERP_VIRTUAL_USDC
Binance VIRTUALUSDTPrice 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
- $25.72
- Funding while held
- $0.94
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- $10.66
- Spread needed to break even
- 0.160%
Slippage unknown: Orderly: no order-book sample; Binance: live order book, 6 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0031%
- Per $10,000 a day
- +$0.94
- 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 6 min ago | 1.41 bp | 10.2 bp −$10 | 20.9 bp −$209 | 97.9 bp −$9,790 | doesn't fit |
Orderly: 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 Omni0.7084+5.041%ApeX Omni0.7091+5.145%edgeX0.7101+5.300%Phoenix0.7111+5.442%Reya0.7113+5.473%Aevo0.7116+5.509%01 Exchange0.7116+5.516%
Injective
Variational Omni
ApeX Omni
Phoenix
Reya
AevoOrderly0.7116+5.516%
Deribit0.7116+5.516%BloFin0.7116+5.516%Extended0.7117+5.536%GMX0.7117+5.537%gTrade (Gains Network)0.7118+5.539%Pacifica0.7118+5.542%Gate0.7118+5.546%Backpack0.7118+5.546%SunX0.7118+5.546%SoDEX0.7119+5.560%BingX0.7120+5.575%Polymarket Perps0.7120+5.581%MEXC0.7121+5.590%KuCoin0.7121+5.590%Aster0.7124+5.635%Coinbase International0.7126+5.664%Kraken Futures0.7128+5.695%Bybit0.7131+5.738%OKX0.7132+5.753%Hyperliquid0.7134+5.783%
Deribit
BloFin
Extended
GMX
gTrade (Gains Network)
Pacifica
Gate
Backpack
SunX
SoDEX
BingX
Polymarket Perps
MEXC
KuCoin
Aster
Coinbase International
Kraken Futures
Bybit
OKX
HyperliquidBinance0.7134+5.787%
Lighter0.7134+5.789%Bitget0.7137+5.827%
Lighter
BitgetVIRTUAL on 32 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective VIRTUAL/USDC PERP | −5.228% | +0.0033% | 1h | $43 | $105K | 5.5x | as long as short |
| Variational Omni VIRTUAL | −0.450% | −0.0026% | 4h | $595K | $781K | — | as long as short |
| ApeX Omni VIRTUALUSDT | −0.351% | +0.0100% | 1h | $40K | $242K | 50x | as long as short |
| edgeX VIRTUALUSDC | −0.204% | +0.0100% | 4h | $18K | $254K | 10x | as long as short |
| Phoenix VIRTUAL | −0.070% | −0.0181% | 1h | $11K | $43K | 5x | as long as short |
| Reya VIRTUALRUSDPERP | −0.040% | −0.0139% | 1h | $24 | — | 10x | as long as short |
| Aevo VIRTUAL-PERP | −0.007% | +0.0104% | 1h | $18K | $505 | 3x | as long as short |
| 01 Exchange VIRTUALUSD | 0.000% | −0.0184% | 1h | $2K | $539 | 10x | as long as short |
| Orderly PERP_VIRTUAL_USDClong | 0.000% | +0.0069% | 4h | $14K | $1.5M | 10x | |
| Deribit VIRTUAL_USDC-PERPETUAL | 0.000% | −0.0031% | 1h | $25K | $30K | 10x | as long as short |