Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.014%

Price spread now: Binance against Polymarket Perps+0.249%46s7-day average −0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$380.382% of the position

Long on Polymarket Perps Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.239%+$24 on $10k

Price spread, last 3 days (all we have)−0.451%−$45 · spread now +0.249%, 7d avg −0.039%

Together, before fees−0.212%−$21 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.288% dearer against Polymarket Perps than usual: you sell high and buy low, +$29 on $10k if it goes back to its 7-day average of −0.039%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps VIRTUAL-USD	0.7378	0.0100	pay 0.0013% / 1h	10m 46s	$51K	$1.1M	5x
Short	Binance VIRTUALUSDT	0.7396	0.0100	get 0.0050% / 4h	3h 10m	$17.2M	$39.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Polymarket Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Polymarket PerpsbpFee BinancebpOrdersPrice spread, now +0.249%Rate

Funding earned: $0
Price spread: +0.249% → −0.039%: $28.8
Slippage, 4 orders: −$20.25
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$9.45
Costs to cover: 0.382%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 2 min ago; Binance: live order book, 1 min ago.

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 Polymarket Perps live order book, 2 min ago	2.71 bp	6.7 bp −$7	7.7 bp −$77	doesn't fit	doesn't fit
Sell Binance live order book, 1 min ago	0.68 bp	12.2 bp −$12	28.2 bp −$282	108.6 bp −$10.9K	doesn't fit

VIRTUAL on 33 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7368	−0.129%	$25	—	10x	as long as short
Phoenix VIRTUAL	−0.0109%	1h	0.7384	+0.087%	$12K	$40K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0048%	1h	0.7371	−0.094%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0021%	1h	0.7371	−0.094%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7374	−0.047%	$4K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−3.536%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7370	−0.107%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7392	+0.192%	$335K	$419K	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7390	+0.158%	$201K	$159K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7397	+0.256%	$73K	$45K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VIRTUALUSDTshort	+0.0100%	4h	0.7396	+0.249%	$17.2M	$39.7M	75x
Bybit VIRTUALUSDT	+0.0100%	4h	0.7394	+0.218%	$16.8M	$17.1M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7388	+0.137%	$2.9M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7393	+0.205%	$1.5M	$3.1M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7392	+0.191%	$18.6M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7390	+0.164%	$4.4M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7390	+0.164%	$6.4M	$5.7M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7390	+0.164%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7381	+0.042%	$250K	$165K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7369	−0.124%	$552K	$885K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7368	−0.140%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7375	−0.040%	$656K	$890K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7371	−0.094%	$41K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USDlong	+0.0100%	1h	0.7378	long leg	$51K	$1.1M	5x
SunX VIRTUAL-USDT	+0.0100%	4h	0.7368	−0.134%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7369	−0.114%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7386	+0.108%	$55K	$277K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7371	−0.097%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0209%	1h	0.7403	+0.347%	$9.2M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0301% / S −0.0228%	1h	0.7373	−0.073%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7376	−0.026%	$830K	$859K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7373	−0.066%	$200K	$93K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0733%	1h	0.7380	+0.022%	$612K	$651K	50x	as long as short