Spread before costs (cost unknown: a leg has no order-book sample)+0.206%
7d average—if it closes, per $10,000$21funding while held, a day+$7.18
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Reya VIRTUALRUSDPERP | 0.7006 | −0.0139 | get 0.0017% / 1h | 40m 39s | $23 | — | 10x |
| Short | Hyperliquid VIRTUAL | 0.7021 | 0.0100 | get 0.0013% / 1h | 40m 39s | $8.7M | $3.7M | 5x |
Reya VIRTUALRUSDPERP
Hyperliquid VIRTUALPrice 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
- $20.59
- Funding while held
- $7.18
- Slippage, 4 orders
- no order book: not counted
- Fee Reya: 3 bp × 2 orders
- −$6
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $12.77
- Spread needed to break even
- 0.150%
Slippage unknown: Reya: no order-book sample; Hyperliquid: live order book, 3 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0239%
- Per $10,000 a day
- +$7.18
- 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 Reya no order-book sample | — | — | — | — | — |
| Sell Hyperliquid live order book, 3 min ago | 0.07 bp | 10.3 bp −$10 | 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 price on every exchange
against the cheapest. Click to use as the short leg.Injective0.6744cheapestVariational Omni0.6999+3.779%SoDEX0.7005+3.863%Aevo0.7005+3.870%BloFin0.7006+3.885%
Injective
Variational Omni
SoDEX
Aevo
BloFinReya0.7006+3.891%
Lighter0.7008+3.912%Gate0.7008+3.915%Orderly0.7008+3.915%Deribit0.7008+3.915%Extended0.7009+3.929%01 Exchange0.7009+3.929%Backpack0.7010+3.944%GMX0.7010+3.945%SunX0.7011+3.959%gTrade (Gains Network)0.7011+3.960%Polymarket Perps0.7011+3.961%Bybit0.7012+3.974%Binance0.7013+3.989%Aster0.7013+3.993%BingX0.7014+4.004%KuCoin0.7015+4.018%OKX0.7016+4.033%Pacifica0.7017+4.054%Bitget0.7018+4.063%Kraken Futures0.7019+4.083%
Lighter
Gate
Orderly
Deribit
Extended
Backpack
GMX
SunX
gTrade (Gains Network)
Polymarket Perps
Bybit
Binance
Aster
BingX
KuCoin
OKX
Pacifica
Bitget
Kraken FuturesHyperliquid0.7021+4.104%
MEXC0.7022+4.122%Phoenix0.7032+4.272%ApeX Omni0.7047+4.493%edgeX0.7048+4.511%Coinbase International0.7113+5.472%
MEXC
Phoenix
ApeX 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 | −3.745% | +0.0033% | 1h | $43 | $28K | 5.5x | as long as short |
| Variational Omni VIRTUAL | −0.107% | −0.0111% | 4h | $569K | $805K | — | as long as short |
| SoDEX VIRTUAL-USD | −0.027% | −0.0121% | 1h | $1K | $9K | 5x | as long as short |
| Aevo VIRTUAL-PERP | −0.020% | +0.0104% | 1h | $17K | $505 | 3x | as long as short |
| BloFin VIRTUAL-USDT | −0.005% | +0.0340% | 4h | $816K | $758K | 75x | as long as short |
| Reya VIRTUALRUSDPERPlong | 0.000% | −0.0139% | 1h | $23 | — | 10x | |
| Lighter VIRTUAL | +0.020% | −0.0184% | 1h | $318K | $389K | 5x | as long as short |
| Gate VIRTUAL_USDT | +0.023% | +0.0086% | 4h | $1.4M | $3.0M | 75x | as long as short |
| Orderly PERP_VIRTUAL_USDC | +0.023% | +0.0056% | 4h | $14K | $1.5M | 10x | as long as short |
| Deribit VIRTUAL_USDC-PERPETUAL | +0.023% | −0.0320% | 1h | $15K | $40K | 10x | as long as short |