Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.018%

Price spread now: Variational Omni against Pacifica−0.367%52s7-day average — · you buy dearer than you sell

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

Long on Pacifica Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropPacifica: Active · Variational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.367% cheaper against Pacifica than usual: you would sell low and buy high, −$37 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 52 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	Pacifica VIRTUAL	0.7293	0.0100	pay 0.0013% / 1h	7m 47s	$72K	$45K	5x
Short	Variational Omni VIRTUAL	0.7266	0.0100	get 0.0050% / 4h	7m 47s	$543K	$888K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Pacifica. 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 PacificabpFee Variational OmnibpOrdersPrice spread, now −0.367%Rate

Funding earned: $0
Price spread: −0.367% → 0.000%: −$36.74
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$44.74
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Pacifica: no order-book sample; Variational Omni: RFQ quote, 6 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 Pacifica no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 6 min ago	3.43 bp	doesn't fit	18.5 bp −$185	doesn't fit	doesn't fit

Pacifica: 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 VIRTUALUSD	−0.0168%	1h	0.7290	−0.038%	$2K	$131	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7283	−0.134%	$24	—	10x	as long as short
Lighter VIRTUAL	−0.0136%	1h	0.7277	−0.219%	$331K	$416K	5x	as long as short
Phoenix VIRTUAL	−0.0066%	1h	0.7293	+0.006%	$11K	$40K	5x	as long as short
SoDEX VIRTUAL-USD	−0.0002%	1h	0.7288	−0.065%	$1K	$9K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7288	−0.065%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7291	−0.027%	$9K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.410%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7288	−0.065%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7287	−0.073%	$200K	$102K	20x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUALlong	+0.0100%	1h	0.7293	long leg	$72K	$45K	5x
Binance VIRTUALUSDT	+0.0100%	4h	0.7281	−0.164%	$16.6M	$38.9M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7283	−0.134%	$16.2M	$16.7M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7281	−0.161%	$2.9M	$9.5M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7287	−0.079%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7283	−0.134%	$18.3M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7291	−0.024%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7289	−0.051%	$6.3M	$5.5M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7288	−0.065%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7293	+0.004%	$247K	$168K	10x	as long as short
Variational Omni VIRTUALshort	+0.0100%	4h	0.7266	−0.367%	$543K	$888K	—
edgeX VIRTUALUSDC	+0.0100%	4h	0.7274	−0.259%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7278	−0.203%	$646K	$915K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7273	−0.271%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7289	−0.049%	$37K	$993K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7288	−0.065%	$2K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7283	−0.139%	$54K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7287	−0.073%	$18K	$505	3x	as long as short
Hyperliquid VIRTUAL	+0.0117%	1h	0.7295	+0.034%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7290	−0.044%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7288	−0.065%	$818K	$849K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7311	+0.250%	$199K	$94K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0863%	1h	0.7301	+0.108%	$597K	$583K	50x	as long as short