Spread before costs (cost unknown: a leg has no order-book sample)+0.305%
7d average—if it closes, per $10,000$31funding while held, a day+$7.76
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix VIRTUAL | 0.6945 | −0.0159 | get 0.0020% / 1h | 0m 16s | $11K | $54K | 5x |
| Short | Bitget VIRTUALUSDT | 0.6966 | 0.0100 | get 0.0050% / 4h | 2h 00m | $5.9M | $5.3M | 25x |
Phoenix VIRTUAL
Bitget 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
- $30.53
- Funding while held
- $7.76
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- $19.28
- Spread needed to break even
- 0.190%
Slippage unknown: Phoenix: no order-book sample; Bitget: live order book, 4 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 Bitget live order book, 4 min ago | 1.44 bp | 13.0 bp −$13 | 30.9 bp −$309 | doesn't fit | 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.Injective0.6744cheapestApeX Omni0.6941+2.921%edgeX0.6942+2.936%
Injective
ApeX OmniPhoenix0.6945+2.977%
Lighter0.6956+3.148%Bybit0.6958+3.173%01 Exchange0.6958+3.173%OKX0.6959+3.188%Reya0.6959+3.189%MEXC0.6960+3.203%Variational Omni0.6960+3.205%SoDEX0.6960+3.210%Binance0.6961+3.218%Gate0.6961+3.218%SunX0.6961+3.218%Aevo0.6962+3.227%Extended0.6962+3.229%Polymarket Perps0.6962+3.230%KuCoin0.6962+3.233%BingX0.6962+3.233%Orderly0.6962+3.233%Deribit0.6963+3.247%Aster0.6964+3.259%BloFin0.6964+3.262%
Lighter
Bybit
OKX
Reya
MEXC
Variational Omni
SoDEX
Binance
Gate
SunX
Aevo
Extended
Polymarket Perps
KuCoin
BingX
Orderly
Deribit
Aster
BloFinBitget0.6966+3.292%
gTrade (Gains Network)0.6966+3.293%GMX0.6966+3.295%Hyperliquid0.6967+3.305%Backpack0.6967+3.307%Pacifica0.6971+3.366%Kraken Futures0.6973+3.398%Coinbase International0.6975+3.425%
gTrade (Gains Network)
GMX
Hyperliquid
Backpack
Pacifica
Kraken Futures
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 | −2.891% | +0.0033% | 1h | $43 | $28K | 5.5x | as long as short |
| ApeX Omni VIRTUALUSDT | −0.055% | +0.0065% | 1h | $40K | $241K | 50x | as long as short |
| edgeX VIRTUALUSDC | −0.041% | +0.0100% | 4h | $18K | $257K | 10x | as long as short |
| Phoenix VIRTUALlong | 0.000% | −0.0159% | 1h | $11K | $54K | 5x | |
| Lighter VIRTUAL | +0.166% | −0.0160% | 1h | $316K | $391K | 5x | as long as short |
| Bybit VIRTUALUSDT | +0.190% | −0.0213% | 4h | $15.1M | $15.5M | 50x | as long as short |
| 01 Exchange VIRTUALUSD | +0.190% | −0.0168% | 1h | $2K | $131 | 10x | as long as short |
| OKX VIRTUAL-USDT-SWAP | +0.204% | +0.0100% | 4h | $2.7M | $9.7M | 20x | as long as short |
| Reya VIRTUALRUSDPERP | +0.206% | −0.0139% | 1h | $23 | — | 10x | as long as short |
| MEXC VIRTUAL_USDT | +0.219% | +0.0100% | 4h | $15.8M | $4.1M | 100x | as long as short |