Spread before costs (cost unknown: a leg has no order-book sample)−0.057%
7d average−0.015%if it closes, per $10,000$6funding while held, a day−$7.81
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_VIRTUAL_USDC | 0.6971 | 0.0055 | pay 0.0028% / 4h | 1h 59m | $14K | $1.5M | 10x |
| Short | Bybit VIRTUALUSDT | 0.6967 | −0.0205 | pay 0.0103% / 4h | 1h 59m | $15.2M | $15.5M | 50x |
Orderly PERP_VIRTUAL_USDC
Bybit 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
- −$5.74
- Funding while held
- −$7.81
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$30.55
- Spread needed to break even
- 0.170%
Slippage unknown: Orderly: no order-book sample; Bybit: live order book, 1 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0260%
- Per $10,000 a day
- −$7.81
- 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 Bybit live order book, 1 min ago | 0.72 bp | 13.8 bp −$14 | 30.6 bp −$306 | 176.3 bp −$17.6K | 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.Injective0.6744cheapestedgeX0.6942+2.936%Variational Omni0.6960+3.205%Phoenix0.6964+3.258%ApeX Omni0.6965+3.277%Lighter0.6965+3.278%
Injective
Variational Omni
Phoenix
ApeX Omni
LighterBybit0.6967+3.307%
Backpack0.6967+3.307%BloFin0.6967+3.307%SoDEX0.6968+3.329%Extended0.6969+3.329%Aevo0.6969+3.336%OKX0.6969+3.336%MEXC0.6969+3.336%BingX0.6969+3.336%Reya0.6969+3.338%Binance0.6970+3.347%01 Exchange0.6971+3.366%Gate0.6971+3.366%
Backpack
BloFin
SoDEX
Extended
Aevo
OKX
MEXC
BingX
Reya
Binance
GateOrderly0.6971+3.366%
Pacifica0.6972+3.375%Deribit0.6972+3.381%KuCoin0.6973+3.396%Polymarket Perps0.6974+3.405%GMX0.6974+3.409%SunX0.6974+3.410%Aster0.6974+3.414%Coinbase International0.6975+3.425%gTrade (Gains Network)0.6976+3.442%Bitget0.6977+3.455%Hyperliquid0.6977+3.462%Kraken Futures0.6983+3.546%
Pacifica
Deribit
KuCoin
Polymarket Perps
GMX
SunX
Aster
Coinbase International
gTrade (Gains Network)
Bitget
Hyperliquid
Kraken FuturesVIRTUAL on 32 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective VIRTUAL/USDC PERP | −3.256% | +0.0033% | 1h | $43 | $28K | 5.5x | as long as short |
| edgeX VIRTUALUSDC | −0.416% | +0.0100% | 4h | $18K | $257K | 10x | as long as short |
| Variational Omni VIRTUAL | −0.155% | −0.0138% | 4h | $522K | $847K | — | as long as short |
| Phoenix VIRTUAL | −0.105% | −0.0159% | 1h | $11K | $48K | 5x | as long as short |
| ApeX Omni VIRTUALUSDT | −0.086% | +0.0080% | 1h | $40K | $241K | 50x | as long as short |
| Lighter VIRTUAL | −0.085% | −0.0160% | 1h | $316K | $388K | 5x | as long as short |
| Bybit VIRTUALUSDTshort | −0.057% | −0.0205% | 4h | $15.2M | $15.5M | 50x | |
| Backpack VIRTUAL_USDC_PERP | −0.057% | +0.0100% | 1h | $229K | $172K | 10x | as long as short |
| BloFin VIRTUAL-USDT | −0.057% | +0.0340% | 4h | $811K | $767K | 75x | as long as short |
| SoDEX VIRTUAL-USD | −0.036% | −0.0002% | 1h | $1K | $9K | 5x | as long as short |