Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0239%/8h= +26.2% APRpaid last 24h +0.072%

Price spread now: Aster against Reya+0.090%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Reya Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · Aster: Stage 5 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Aster is 0.090% dearer against Reya than usual: you sell high and buy low: +$9 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya VIRTUALRUSDPERP	0.7269	−0.0139	get 0.0017% / 1h	50m 31s	$24	—	10x
Short	Aster VIRTUALUSDT	0.7275	0.0100	get 0.0050% / 4h	50m 31s	$191K	$95K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Reya. 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 ReyabpFee AsterbpOrdersPrice spread, now +0.090%Rate

Funding earned: $50.23
Price spread: +0.090% → 0.000%: $8.96
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Aster: 4 bp × 2 orders: −$8
Net: $45.19
Costs to cover: 0.140%
Break-even: 0.7 days

Slippage unknown: Reya: no order-book sample; Aster: live order book, 26 min ago. Net counts fees only.

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 Reya no order-book sample	—	—	—	—	—
Sell Aster live order book, 26 min ago	5.56 bp	17.6 bp −$18	doesn't fit	doesn't fit	doesn't fit

Reya: 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 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 VIRTUALRUSDPERPlong	−0.0139%	1h	0.7269	long leg	$24	—	10x
01 Exchange VIRTUALUSD	−0.0080%	1h	0.7261	−0.104%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0066%	1h	0.7269	+0.005%	$11K	$40K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0025%	1h	0.7262	−0.090%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7264	−0.067%	$13K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.085%	$46	$88K	5.5x	as long as short
Lighter VIRTUAL	+0.0072%	1h	0.7270	+0.017%	$331K	$413K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0092%	4h	0.7263	−0.077%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDTshort	+0.0100%	4h	0.7275	+0.090%	$191K	$95K	20x
Pacifica VIRTUAL	+0.0100%	1h	0.7276	+0.105%	$73K	$44K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VIRTUALUSDT	+0.0100%	4h	0.7272	+0.047%	$16.6M	$38.0M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7271	+0.034%	$15.9M	$16.1M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7273	+0.061%	$2.9M	$9.4M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7275	+0.089%	$1.5M	$2.9M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7269	+0.006%	$17.8M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7275	+0.089%	$4.4M	$4.1M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7277	+0.116%	$6.2M	$5.4M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7275	+0.089%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7271	+0.034%	$241K	$159K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7246	−0.317%	$529K	$876K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7252	−0.229%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7253	−0.214%	$642K	$918K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7266	−0.035%	$40K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7277	+0.113%	$33K	$945K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7260	−0.118%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7260	−0.111%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7269	+0.001%	$54K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7260	−0.113%	$18K	$505	3x	as long as short
Hyperliquid VIRTUAL	+0.0219%	1h	0.7279	+0.146%	$9.0M	$3.8M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7264	−0.062%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7257	−0.159%	$808K	$844K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7278	+0.130%	$198K	$97K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0866%	1h	0.7274	+0.076%	$592K	$595K	50x	as long as short