Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against SunX−0.028%7-day average −0.012% · you buy dearer than you sell

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

Long on SunX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$2 on $10k

Price spread, last 4 days (all we have)+0.171%+$17 · spread now −0.028%, 7d avg −0.012%

Together, before fees+0.156%+$16 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX VIRTUAL-USDT	0.7190	0.0100	pay 0.0050% / 4h	3h 59m	$1K	$1.3M	20x
Short	BingX VIRTUAL-USDT	0.7188	0.0100	get 0.0050% / 4h	3h 59m	—	$7.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against SunX. 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 SunXbpFee BingXbpOrdersPrice spread, now −0.028%Rate

Funding earned: $0
Price spread: −0.028% → −0.012%: −$1.53
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$19.53
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 5 min ago; BingX: live order book, 3 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 SunX live order book, 5 min ago	501.22 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	1.39 bp	8.8 bp −$9	13.0 bp −$130	28.0 bp −$2,802	86.2 bp −$43.1K

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	0.7179	−0.155%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0056%	1h	0.7184	−0.083%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7182	−0.108%	$11K	$37K	5x	as long as short
Lighter VIRTUAL	−0.0016%	1h	0.7183	−0.099%	$327K	$405K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7181	−0.131%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.015%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0093%	4h	0.7191	+0.014%	$14K	$1.4M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7189	−0.017%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7191	+0.016%	$97K	$292K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7190	+0.002%	$71K	$43K	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	0.7188	−0.024%	$16.3M	$40.7M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7182	−0.111%	$16.5M	$18.4M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7183	−0.097%	$2.8M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7189	−0.014%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7179	−0.153%	$17.5M	$4.5M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7185	−0.070%	$3.0M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7185	−0.070%	$6.2M	$5.8M	25x	as long as short
BingX VIRTUAL-USDTshort	+0.0100%	4h	0.7188	−0.028%	—	$7.9M	—
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7189	−0.014%	$239K	$208K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7181	−0.122%	$537K	$913K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7181	−0.120%	$19K	$262K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7166	−0.334%	$640K	$913K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7165	−0.348%	$41K	$239K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7189	−0.013%	$55K	$1.1M	5x	as long as short
SunX VIRTUAL-USDTlong	+0.0100%	4h	0.7190	long leg	$1K	$1.3M	20x
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7189	−0.014%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7186	−0.055%	$54K	$263K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7190	−0.004%	$18K	—	3x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	+0.0167%	1h	0.7192	+0.028%	$15K	$40K	10x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0316% / S −0.0265%	1h	0.7189	−0.017%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7186	−0.056%	$801K	$901K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0416%	1h	0.7184	−0.083%	$201K	$105K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0797%	1h	0.7198	+0.108%	$593K	$664K	50x	as long as short