Spread before costs (cost unknown: a leg has no order-book sample)−0.039%
7d average—if it closes, per $10,000$4funding while held, a day+$7.76
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix VIRTUAL | 0.6964 | −0.0159 | get 0.0020% / 1h | 58m 30s | $11K | $48K | 5x |
| Short | Binance VIRTUALUSDT | 0.6961 | 0.0100 | get 0.0050% / 4h | 1h 58m | $15.7M | $36.0M | 75x |
Phoenix VIRTUAL
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
- −$3.88
- Funding while held
- $7.76
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$13.12
- Spread needed to break even
- 0.170%
Slippage unknown: Phoenix: no order-book sample; Binance: live order book, 15 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0259%
- Per $10,000 a day
- +$7.76
- 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 15 min ago | 0.71 bp | 10.2 bp −$10 | 24.5 bp −$245 | 95.4 bp −$9,542 | doesn't fit |
Phoenix: 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%Lighter0.6950+3.049%Extended0.6955+3.129%BingX0.6955+3.129%Bybit0.6958+3.173%01 Exchange0.6959+3.188%Gate0.6959+3.188%MEXC0.6960+3.203%Variational Omni0.6960+3.205%Pacifica0.6960+3.205%
Injective
Lighter
Extended
BingX
Bybit
Gate
MEXC
Variational Omni
PacificaBinance0.6961+3.218%
Reya0.6962+3.227%OKX0.6962+3.233%
Reya
OKXPhoenix0.6964+3.258%
Polymarket Perps0.6964+3.265%ApeX Omni0.6965+3.277%Bitget0.6966+3.292%BloFin0.6967+3.307%KuCoin0.6968+3.321%SoDEX0.6968+3.329%Hyperliquid0.6969+3.335%Aevo0.6969+3.336%Aster0.6970+3.358%Orderly0.6971+3.366%Deribit0.6972+3.381%GMX0.6974+3.409%SunX0.6974+3.410%Backpack0.6975+3.425%Coinbase International0.6975+3.425%gTrade (Gains Network)0.6976+3.442%Kraken Futures0.6983+3.546%
Polymarket Perps
ApeX Omni
Bitget
BloFin
KuCoin
SoDEX
Hyperliquid
Aevo
Aster
Orderly
Deribit
GMX
SunX
Backpack
Coinbase International
gTrade (Gains Network)
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 | −3.155% | +0.0033% | 1h | $43 | $28K | 5.5x | as long as short |
| edgeX VIRTUALUSDC | −0.312% | +0.0100% | 4h | $18K | $257K | 10x | as long as short |
| Lighter VIRTUAL | −0.202% | −0.0432% | 1h | $316K | $389K | 5x | as long as short |
| Extended VIRTUAL-USD | −0.125% | +0.0104% | 1h | $54K | $243K | 10x | as long as short |
| BingX VIRTUAL-USDT | −0.125% | +0.0100% | 4h | — | $8.2M | — | as long as short |
| Bybit VIRTUALUSDT | −0.082% | −0.0224% | 4h | $15.1M | $15.5M | 50x | as long as short |
| 01 Exchange VIRTUALUSD | −0.067% | −0.0184% | 1h | $2K | $131 | 10x | as long as short |
| Gate VIRTUAL_USDT | −0.067% | +0.0064% | 4h | $1.4M | $3.1M | 75x | as long as short |
| MEXC VIRTUAL_USDT | −0.053% | +0.0100% | 4h | $15.8M | $3.8M | 100x | as long as short |
| Variational Omni VIRTUAL | −0.051% | −0.0138% | 4h | $522K | $847K | — | as long as short |