Spread before costs (cost unknown: a leg has no order-book sample)+0.241%
7d average—if it closes, per $10,000$24funding while held, a day+$9.56
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix VIRTUAL | 0.7105 | −0.0090 | get 0.0011% / 1h | 27m 27s | $11K | $46K | 5x |
| Short | GMX VIRTUAL/USD [WBTC.b-USDC] | 0.7122 | L +0.0297% / S −0.0228% | get 0.0029% / 1h | 27m 27s | $30K | — | 100x |
Phoenix VIRTUAL
GMX VIRTUAL/USD [WBTC.b-USDC]Price 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
- $24.1
- Funding while held
- $9.56
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- $14.66
- Spread needed to break even
- 0.190%
Slippage unknown: Phoenix: no order-book sample; GMX: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0319%
- Per $10,000 a day
- +$9.56
- 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 GMX no order-book sample | — | — | — | — | — |
Phoenix and GMX: 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.Injective0.6744cheapest
Variational Omni0.7101+5.299%ApeX Omni0.7102+5.308%BloFin0.7104+5.338%
Injective
Variational Omni
ApeX Omni
BloFinPhoenix0.7105+5.350%
Lighter0.7105+5.359%SoDEX0.7108+5.391%Aevo0.7111+5.443%Reya0.7112+5.462%OKX0.7113+5.472%Gate0.7113+5.472%Orderly0.7113+5.472%edgeX0.7113+5.475%01 Exchange0.7114+5.486%Aster0.7115+5.497%Bybit0.7115+5.501%MEXC0.7115+5.501%SunX0.7115+5.501%Deribit0.7115+5.501%Pacifica0.7115+5.505%Extended0.7115+5.506%Binance0.7117+5.525%BingX0.7117+5.531%Backpack0.7118+5.546%KuCoin0.7120+5.575%gTrade (Gains Network)0.7121+5.587%Bitget0.7121+5.590%
Lighter
SoDEX
Aevo
Reya
OKX
Gate
Orderly
Aster
Bybit
MEXC
SunX
Deribit
Pacifica
Extended
Binance
BingX
Backpack
KuCoin
gTrade (Gains Network)
BitgetGMX0.7122+5.604%
Kraken Futures0.7124+5.641%Hyperliquid0.7125+5.652%Polymarket Perps0.7125+5.652%Coinbase International0.7131+5.738%
Kraken Futures
Hyperliquid
Polymarket Perps
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 | −5.078% | +0.0033% | 1h | $43 | $28K | 5.5x | as long as short |
| Variational Omni VIRTUAL | −0.048% | +0.0038% | 4h | $599K | $803K | — | as long as short |
| ApeX Omni VIRTUALUSDT | −0.039% | +0.0100% | 1h | $40K | $241K | 50x | as long as short |
| BloFin VIRTUAL-USDT | −0.011% | +0.0340% | 4h | $828K | $792K | 75x | as long as short |
| Phoenix VIRTUALlong | 0.000% | −0.0090% | 1h | $11K | $46K | 5x | |
| Lighter VIRTUAL | +0.008% | −0.0064% | 1h | $323K | $412K | 5x | as long as short |
| SoDEX VIRTUAL-USD | +0.039% | −0.0094% | 1h | $212 | $8K | 5x | as long as short |
| Aevo VIRTUAL-PERP | +0.089% | +0.0104% | 1h | $18K | $505 | 3x | as long as short |
| Reya VIRTUALRUSDPERP | +0.106% | −0.0139% | 1h | $24 | — | 10x | as long as short |
| OKX VIRTUAL-USDT-SWAP | +0.115% | +0.0100% | 4h | $2.8M | $10.3M | 20x | as long as short |