Spread before costs (cost unknown: a leg has no order-book sample)+0.016%
7d average—if it closes, per $10,000$2funding while held, a day+$7.13
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix VIRTUAL | 0.7008 | −0.0138 | get 0.0017% / 1h | 36m 28s | $11K | $48K | 5x |
| Short | MEXC VIRTUAL_USDT | 0.7009 | 0.0100 | get 0.0050% / 4h | 1h 36m | $15.9M | $3.9M | 100x |
Phoenix VIRTUAL
MEXC 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
- $1.57
- Funding while held
- $7.13
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- $1.7
- Spread needed to break even
- 0.070%
Slippage unknown: Phoenix: no order-book sample; MEXC: live order book, 3 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0238%
- Per $10,000 a day
- +$7.13
- 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 MEXC live order book, 3 min ago | 1.43 bp | 3.1 bp −$3 | 6.3 bp −$63 | 63.6 bp −$6,365 | 249.4 bp −$124.7K |
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.Injective0.6744cheapestLighter0.6997+3.757%Bybit0.6998+3.766%BingX0.7000+3.796%OKX0.7001+3.811%Gate0.7001+3.811%BloFin0.7001+3.811%Reya0.7001+3.815%Binance0.7002+3.826%01 Exchange0.7002+3.826%Extended0.7002+3.826%Aevo0.7002+3.832%Orderly0.7003+3.840%Deribit0.7003+3.840%SoDEX0.7004+3.848%GMX0.7004+3.852%Bitget0.7004+3.855%Polymarket Perps0.7005+3.870%Aster0.7005+3.876%Pacifica0.7006+3.881%gTrade (Gains Network)0.7006+3.882%Backpack0.7006+3.885%SunX0.7006+3.885%
Injective
Lighter
Bybit
BingX
OKX
Gate
BloFin
Reya
Binance
Extended
Aevo
Orderly
Deribit
SoDEX
GMX
Bitget
Polymarket Perps
Aster
Pacifica
gTrade (Gains Network)
Backpack
SunXPhoenix0.7008+3.913%
KuCoin0.7008+3.915%
KuCoinMEXC0.7009+3.929%
Hyperliquid0.7010+3.947%ApeX Omni0.7013+3.989%edgeX0.7013+3.993%Kraken Futures0.7014+4.004%Variational Omni0.7017+4.045%Coinbase International0.7033+4.285%
Hyperliquid
ApeX Omni
Kraken Futures
Variational 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 | −3.766% | +0.0033% | 1h | $43 | $28K | 5.5x | as long as short |
| Lighter VIRTUAL | −0.150% | −0.0312% | 1h | $318K | $389K | 5x | as long as short |
| Bybit VIRTUALUSDT | −0.141% | −0.0176% | 4h | $15.2M | $15.5M | 50x | as long as short |
| BingX VIRTUAL-USDT | −0.113% | +0.0100% | 4h | — | $8.2M | — | as long as short |
| OKX VIRTUAL-USDT-SWAP | −0.098% | +0.0100% | 4h | $2.7M | $9.5M | 20x | as long as short |
| Gate VIRTUAL_USDT | −0.098% | +0.0048% | 4h | $1.4M | $3.1M | 75x | as long as short |
| BloFin VIRTUAL-USDT | −0.098% | +0.0340% | 4h | $809K | $764K | 75x | as long as short |
| Reya VIRTUALRUSDPERP | −0.094% | −0.0139% | 1h | $23 | — | 10x | as long as short |
| Binance VIRTUALUSDT | −0.084% | +0.0100% | 4h | $15.8M | $35.8M | 75x | as long as short |
| 01 Exchange VIRTUALUSD | −0.084% | −0.0176% | 1h | $2K | $131 | 10x | as long as short |