Spread before costs (cost unknown: a leg has no order-book sample)+0.128%
7d average—if it closes, per $10,000$13funding while held, a day+$5.71
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix VIRTUAL | 0.7092 | −0.0090 | get 0.0011% / 1h | 32m 07s | $11K | $46K | 5x |
| Short | BingX VIRTUAL-USDT | 0.7101 | 0.0100 | get 0.0050% / 4h | 3h 32m | — | $8.2M | — |
Phoenix VIRTUAL
BingX VIRTUAL-USDTPrice 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
- $12.83
- Funding while held
- $5.71
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- $1.55
- Spread needed to break even
- 0.170%
Slippage unknown: Phoenix: no order-book sample; BingX: live order book, 12 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0190%
- Per $10,000 a day
- +$5.71
- 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 BingX live order book, 12 min ago | 1.40 bp | 7.2 bp −$7 | 11.9 bp −$119 | 25.4 bp −$2,538 | 77.8 bp −$38.9K |
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.Injective0.6744cheapestAevo0.7090+5.126%BloFin0.7091+5.145%
Injective
Aevo
BloFinPhoenix0.7092+5.159%
01 Exchange0.7094+5.190%SunX0.7095+5.205%Pacifica0.7096+5.225%Reya0.7097+5.232%Lighter0.7097+5.239%MEXC0.7098+5.249%Extended0.7099+5.259%Bybit0.7099+5.264%KuCoin0.7099+5.264%Orderly0.7099+5.264%SoDEX0.7099+5.264%Gate0.7100+5.279%Deribit0.7100+5.279%
SunX
Pacifica
Reya
Lighter
MEXC
Extended
Bybit
KuCoin
Orderly
SoDEX
Gate
DeribitBingX0.7101+5.294%
OKX0.7102+5.308%Aster0.7102+5.310%Binance0.7103+5.317%gTrade (Gains Network)0.7103+5.320%GMX0.7103+5.320%Polymarket Perps0.7103+5.320%edgeX0.7103+5.323%Bitget0.7106+5.368%Backpack0.7110+5.427%Variational Omni0.7110+5.430%Kraken Futures0.7111+5.440%Hyperliquid0.7114+5.491%ApeX Omni0.7121+5.590%Coinbase International0.7131+5.738%
OKX
Aster
Binance
gTrade (Gains Network)
GMX
Polymarket Perps
Bitget
Backpack
Variational Omni
Kraken Futures
Hyperliquid
ApeX Omni
Coinbase InternationalVIRTUAL on 32 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective VIRTUAL/USDC PERP | −4.906% | +0.0033% | 1h | $43 | $28K | 5.5x | as long as short |
| Aevo VIRTUAL-PERP | −0.031% | +0.0104% | 1h | $18K | $505 | 3x | as long as short |
| BloFin VIRTUAL-USDT | −0.013% | +0.0340% | 4h | $828K | $791K | 75x | as long as short |
| Phoenix VIRTUALlong | 0.000% | −0.0090% | 1h | $11K | $46K | 5x | |
| 01 Exchange VIRTUALUSD | +0.030% | −0.0176% | 1h | $2K | $131 | 10x | as long as short |
| SunX VIRTUAL-USDT | +0.044% | +0.0100% | 4h | $1K | $1.3M | 20x | as long as short |
| Pacifica VIRTUAL | +0.063% | +0.0100% | 1h | $73K | $41K | 5x | as long as short |
| Reya VIRTUALRUSDPERP | +0.070% | −0.0139% | 1h | $24 | — | 10x | as long as short |
| Lighter VIRTUAL | +0.076% | −0.0032% | 1h | $322K | $411K | 5x | as long as short |
| MEXC VIRTUAL_USDT | +0.086% | +0.0100% | 4h | $15.8M | $4.1M | 100x | as long as short |