VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0139%/8h= +15.2% APRnext payment +$0.17 per $10,000 · paid last 24h +0.012%

Price spread now: Phoenix against Reya−0.127%7-day average — · you buy dearer than you sell

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

Long on Reya Short on Phoenix

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 · farm boardneeds both histories

Funding pays, the price is against you. Phoenix is 0.127% cheaper against Reya than usual: you would sell low and buy high (spread −0.127% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 3.0 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya VIRTUALRUSDPERP	0.7211	−0.0139	get 0.0017% / 1h	10m 55s	$24	—	10x
Short	Phoenix VIRTUAL	0.7202	0	get 0.0000% / 1h	10m 55s	$11K	$37K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.127%Rate

Funding earned: $29.21
Price spread: −0.127% → 0.000%: −$12.68
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $3.52
Costs to cover: 0.130%
Break-even: 6.2 days

Slippage unknown: Reya: no order-book sample; Phoenix: no order-book sample. 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 Phoenix no order-book sample	—	—	—	—	—

Reya and 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 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	0.7211	long leg	$24	—	10x
01 Exchange VIRTUALUSD	−0.0064%	1h	0.7211	−0.003%	$2K	$131	10x	as long as short
Phoenix VIRTUALshort	0.0000%	1h	0.7202	−0.127%	$11K	$37K	5x
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7218	+0.094%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7215	+0.055%	$4K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.307%	$46	$88K	5.5x	as long as short
Lighter VIRTUAL	+0.0072%	1h	0.7216	+0.070%	$328K	$413K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7220	+0.121%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7229	+0.250%	$8.9M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7220	+0.121%	$98K	$291K	20x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7209	−0.030%	$71K	$42K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7222	+0.151%	$16.5M	$40.2M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7218	+0.094%	$16.7M	$18.1M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7221	+0.135%	$2.9M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7222	+0.149%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7222	+0.149%	$17.9M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7219	+0.108%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7222	+0.149%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7219	+0.108%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7225	+0.191%	$238K	$203K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7206	−0.071%	$536K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7203	−0.118%	$19K	$259K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7201	−0.147%	$637K	$855K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7203	−0.114%	$41K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7218	+0.094%	$52K	$993K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7222	+0.149%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7221	+0.135%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7221	+0.137%	$54K	$270K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7218	+0.090%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0314% / S −0.0259%	1h	0.7214	+0.040%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7220	+0.121%	$820K	$899K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7224	+0.177%	$189K	$78K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0905%	1h	0.7231	+0.271%	$601K	$664K	50x	as long as short