Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.014%

Price spread now: BingX against Polymarket Perps−0.029%7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$330.326% of the position

Long on Polymarket Perps Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.302%+$30 on $10k

Price spread, last 7 days+0.003%$0 · spread now −0.029%, 7d avg +0.013%

Together, before fees+0.305%+$31 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: BingX is 0.042% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps VIRTUAL-USD	0.7163	0.0100	pay 0.0013% / 1h	42m 24s	$48K	$1.0M	5x
Short	BingX VIRTUAL-USDT	0.7161	0.0100	get 0.0050% / 4h	42m 24s	—	$7.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.029%Rate

Funding earned: $0
Price spread: −0.029% → +0.013%: −$4.21
Slippage, 4 orders: −$14.64
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$36.86
Costs to cover: 0.326%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 1 min ago; BingX: live order book, 10 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, 1 min ago	3.42 bp	7.8 bp −$8	7.9 bp −$79	doesn't fit	doesn't fit
Sell BingX live order book, 10 min ago	1.40 bp	8.5 bp −$8	12.0 bp −$120	24.3 bp −$2,431	75.0 bp −$37.5K

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
Kraken Futures PF_VIRTUALUSD	−0.0335%	1h	0.7166	+0.038%	$521K	$742K	50x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7163	−0.008%	$24	—	10x	as long as short
Variational Omni VIRTUAL	−0.0122%	4h	0.7151	−0.167%	$536K	$908K	—	as long as short
01 Exchange VIRTUALUSD	−0.0080%	1h	0.7159	−0.057%	$2K	$106	10x	as long as short
Phoenix VIRTUAL	−0.0067%	1h	0.7161	−0.032%	$11K	$36K	5x	as long as short
Bybit VIRTUALUSDT	−0.0031%	4h	0.7158	−0.071%	$16.3M	$18.8M	50x	as long as short
Lighter VIRTUAL	−0.0016%	1h	0.7157	−0.081%	$323K	$403K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7162	−0.020%	$14K	—	150x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	+0.0029%	1h	0.7164	+0.013%	$15K	$40K	10x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.644%	$46	$88K	5.5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_VIRTUAL_USDC	+0.0074%	4h	0.7163	−0.001%	$16K	$1.7M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7164	+0.013%	$92K	$302K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7158	−0.075%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7164	+0.013%	$16.1M	$42.2M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7164	+0.013%	$2.9M	$10.0M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7160	−0.043%	$1.5M	$3.4M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7161	−0.029%	$15.7M	$5.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7161	−0.029%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7163	−0.001%	$6.0M	$5.8M	25x	as long as short
BingX VIRTUAL-USDTshort	+0.0100%	4h	0.7161	−0.029%	—	$7.9M	—
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7150	−0.183%	$237K	$175K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7159	−0.064%	$19K	$262K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7155	−0.116%	$638K	$1.1M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7152	−0.155%	$40K	$236K	50x	as long as short
Polymarket Perps VIRTUAL-USDlong	+0.0100%	1h	0.7163	long leg	$48K	$1.0M	5x
SunX VIRTUAL-USDT	+0.0100%	4h	0.7164	+0.013%	$2K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7163	−0.008%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7162	−0.021%	$54K	$263K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7163	+0.001%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0311%	1h	0.7174	+0.149%	$8.8M	$3.9M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0313% / S −0.0258%	1h	0.7164	+0.009%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7150	−0.183%	$782K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0480%	1h	0.7170	+0.096%	$200K	$100K	50x	as long as short