Spread before costs (cost unknown: a leg has no order-book sample)+0.426%
7d average—if it closes, per $10,000$43funding while held, a day+$16.35
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix VIRTUAL | 0.7025 | −0.0113 | get 0.0014% / 1h | 16m 27s | $11K | $42K | 5x |
| Short | Coinbase International VIRTUAL-PERP-INTX | 0.7055 | 0.0432 | get 0.0054% / 1h | 16m 27s | $193K | $118K | 50x |
Phoenix VIRTUAL
Coinbase International VIRTUAL-PERP-INTXPrice 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
- $42.56
- Funding while held
- $16.35
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- $41.91
- Spread needed to break even
- 0.170%
Slippage unknown: Phoenix: no order-book sample; Coinbase International: live order book, 33 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0545%
- Per $10,000 a day
- +$16.35
- 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 Coinbase International live order book, 33 min ago | 6.31 bp | 23.4 bp −$23 | 526.5 bp −$5,265 | 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.Injective0.6744cheapestVariational Omni0.7001+3.809%edgeX0.7011+3.959%
Injective
Variational OmniPhoenix0.7025+4.168%
SoDEX0.7030+4.248%BloFin0.7032+4.270%Aevo0.7033+4.283%Orderly0.7033+4.285%Deribit0.7033+4.285%SunX0.7035+4.315%GMX0.7037+4.339%Lighter0.7037+4.349%gTrade (Gains Network)0.7038+4.353%MEXC0.7038+4.359%BingX0.7038+4.359%Extended0.7039+4.373%Bybit0.7039+4.374%OKX0.7039+4.374%01 Exchange0.7039+4.374%KuCoin0.7039+4.374%Binance0.7039+4.378%Reya0.7040+4.382%Pacifica0.7040+4.387%Aster0.7040+4.392%Gate0.7041+4.404%Backpack0.7041+4.404%Bitget0.7042+4.419%ApeX Omni0.7042+4.419%Polymarket Perps0.7046+4.472%Kraken Futures0.7047+4.486%Hyperliquid0.7047+4.491%
SoDEX
BloFin
Aevo
Orderly
Deribit
SunX
GMX
Lighter
gTrade (Gains Network)
MEXC
BingX
Extended
Bybit
OKX
KuCoin
Binance
Reya
Pacifica
Aster
Gate
Backpack
Bitget
ApeX Omni
Polymarket Perps
Kraken Futures
HyperliquidCoinbase International0.7055+4.612%
VIRTUAL on 32 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective VIRTUAL/USDC PERP | −4.001% | +0.0033% | 1h | $43 | $70K | 5.5x | as long as short |
| Variational Omni VIRTUAL | −0.344% | −0.0031% | 4h | $591K | $801K | — | as long as short |
| edgeX VIRTUALUSDC | −0.201% | +0.0100% | 4h | $18K | $255K | 10x | as long as short |
| Phoenix VIRTUALlong | 0.000% | −0.0113% | 1h | $11K | $42K | 5x | |
| SoDEX VIRTUAL-USD | +0.077% | +0.0100% | 1h | $204 | $8K | 5x | as long as short |
| BloFin VIRTUAL-USDT | +0.098% | +0.0340% | 4h | $839K | $778K | 75x | as long as short |
| Aevo VIRTUAL-PERP | +0.110% | +0.0104% | 1h | $18K | $505 | 3x | as long as short |
| Orderly PERP_VIRTUAL_USDC | +0.112% | +0.0065% | 4h | $14K | $1.5M | 10x | as long as short |
| Deribit VIRTUAL_USDC-PERPETUAL | +0.112% | −0.0176% | 1h | $25K | $30K | 10x | as long as short |
| SunX VIRTUAL-USDT | +0.141% | +0.0100% | 4h | $2K | $1.3M | 20x | as long as short |