VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0017%/8h= +1.8% APRnext payment +$0.08 per $10,000 · paid last 24h −0.012%

Price spread now: Variational Omni against Orderly+0.030%7-day average −0.019% · you sell dearer than you buy

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

Long on Orderly Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.024%+$2 · spread now +0.030%, 7d avg −0.019%

Together, before fees+0.028%+ Points / potential airdropVariational Omni: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Variational Omni is 0.049% dearer against Orderly than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_VIRTUAL_USDC	0.7153	0.0083	pay 0.0042% / 4h	3h 09m	$14K	$1.4M	10x
Short	Variational Omni VIRTUAL	0.7155	0.0100	get 0.0050% / 4h	3h 09m	$536K	$909K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Orderly. 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 OrderlybpFee Variational OmnibpOrdersPrice spread, now +0.030%Rate

Funding earned: $3.5
Price spread: +0.030% → −0.019%: $4.91
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $2.41
Costs to cover: 0.060%
Break-even: 2.2 days

Slippage unknown: Orderly: no order-book sample; Variational Omni: RFQ quote, 44 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 44 min ago	4.86 bp	doesn't fit	21.5 bp −$215	doesn't fit	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 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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0588%	1h	0.7150	−0.042%	$15K	$40K	10x	as long as short
Lighter VIRTUAL	−0.0224%	1h	0.7146	−0.101%	$325K	$406K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0160%	1h	0.7155	+0.028%	$2K	$106	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7152	−0.011%	$24	—	10x	as long as short
SoDEX VIRTUAL-USD	−0.0045%	1h	0.7149	−0.053%	$1K	$9K	5x	as long as short
Phoenix VIRTUAL	−0.0022%	1h	0.7175	+0.310%	$11K	$37K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7154	+0.017%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.503%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDClong	+0.0083%	4h	0.7153	long leg	$14K	$1.4M	10x
Hyperliquid VIRTUAL	+0.0100%	1h	0.7161	+0.116%	$8.8M	$4.2M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7157	+0.053%	$94K	$299K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7160	+0.095%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7150	−0.042%	$16.2M	$41.1M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7149	−0.056%	$16.5M	$18.6M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7152	−0.014%	$2.8M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7154	+0.014%	$1.5M	$3.4M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7151	−0.028%	$16.1M	$4.8M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7152	−0.014%	$3.0M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7154	+0.014%	$6.1M	$5.9M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7150	−0.042%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7152	−0.014%	$237K	$214K	10x	as long as short
Variational Omni VIRTUALshort	+0.0100%	4h	0.7155	+0.030%	$536K	$909K	—
edgeX VIRTUALUSDC	+0.0100%	4h	0.7173	+0.285%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7173	+0.280%	$637K	$974K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7181	+0.391%	$40K	$238K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7159	+0.081%	$53K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7160	+0.098%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7149	−0.055%	$54K	$255K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7148	−0.073%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7154	+0.018%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7157	+0.056%	$796K	$949K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7200	+0.657%	$201K	$104K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0489%	1h	0.7158	+0.069%	$586K	$670K	50x	as long as short