Spread before costs (cost unknown: a leg has no order-book sample)+0.132%
7d average—if it closes, per $10,000$13funding while held, a day+$7.29
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix VIRTUAL | 0.7111 | −0.0181 | get 0.0023% / 1h | 6m 31s | $11K | $43K | 5x |
| Short | Polymarket Perps VIRTUAL-USD | 0.7120 | 0.0062 | get 0.0008% / 1h | 6m 31s | $31K | $793K | 5x |
Phoenix VIRTUAL
Polymarket Perps VIRTUAL-USDPrice 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
- $13.22
- Funding while held
- $7.29
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- $5.51
- Spread needed to break even
- 0.150%
Slippage unknown: Phoenix: no order-book sample; Polymarket Perps: live order book, 48 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0243%
- Per $10,000 a day
- +$7.29
- 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 Polymarket Perps live order book, 48 min ago | 2.63 bp | 6.7 bp −$7 | 7.4 bp −$74 | 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.Injective0.6744cheapest
Variational Omni0.7084+5.041%ApeX Omni0.7091+5.145%edgeX0.7101+5.300%
Injective
Variational Omni
ApeX OmniPhoenix0.7111+5.442%
Reya0.7113+5.473%Aevo0.7116+5.509%Orderly0.7116+5.516%Deribit0.7116+5.516%BloFin0.7116+5.516%GMX0.7117+5.537%gTrade (Gains Network)0.7118+5.539%Backpack0.7118+5.546%SunX0.7118+5.546%SoDEX0.7119+5.560%
Reya
Aevo
Orderly
Deribit
BloFin
GMX
gTrade (Gains Network)
Backpack
SunX
SoDEXPolymarket Perps0.7120+5.581%
Coinbase International0.7126+5.664%Extended0.7127+5.677%Bybit0.7128+5.694%OKX0.7128+5.694%Kraken Futures0.7128+5.695%Binance0.7130+5.726%01 Exchange0.7131+5.738%BingX0.7132+5.753%Bitget0.7133+5.768%Hyperliquid0.7134+5.783%Lighter0.7134+5.789%Pacifica0.7134+5.790%Gate0.7135+5.798%MEXC0.7135+5.798%KuCoin0.7136+5.813%Aster0.7137+5.826%
Coinbase International
Extended
Bybit
OKX
Kraken Futures
Binance
BingX
Bitget
Hyperliquid
Lighter
Pacifica
Gate
MEXC
KuCoin
AsterVIRTUAL on 32 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective VIRTUAL/USDC PERP | −5.161% | +0.0033% | 1h | $43 | $105K | 5.5x | as long as short |
| Variational Omni VIRTUAL | −0.380% | −0.0026% | 4h | $595K | $781K | — | as long as short |
| ApeX Omni VIRTUALUSDT | −0.281% | +0.0100% | 1h | $40K | $242K | 50x | as long as short |
| edgeX VIRTUALUSDC | −0.134% | +0.0100% | 4h | $18K | $254K | 10x | as long as short |
| Phoenix VIRTUALlong | 0.000% | −0.0181% | 1h | $11K | $43K | 5x | |
| Reya VIRTUALRUSDPERP | +0.030% | −0.0139% | 1h | $24 | — | 10x | as long as short |
| Aevo VIRTUAL-PERP | +0.063% | +0.0104% | 1h | $18K | $505 | 3x | as long as short |
| Orderly PERP_VIRTUAL_USDC | +0.070% | +0.0069% | 4h | $14K | $1.5M | 10x | as long as short |
| Deribit VIRTUAL_USDC-PERPETUAL | +0.070% | −0.0031% | 1h | $25K | $30K | 10x | as long as short |
| BloFin VIRTUAL-USDT | +0.070% | +0.0340% | 4h | $837K | $774K | 75x | as long as short |