Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0412%/8h= +45.1% APRpaid last 24h +0.094%

Price spread now: Coinbase International against SunX+0.193%7-day average +0.282% · you sell dearer than you buy

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

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.378%+$38 on $10k

Price spread, last 4 days (all we have)−0.027%−$3 · spread now +0.193%, 7d avg +0.282%

Together, before fees+0.351%+$35 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.088% cheaper against SunX than usual: you would sell low and buy high (spread +0.193% now, against its 7-day average of +0.282%). If the spread goes back, that is −$9 on $10k: about 17 hours of funding at the current rate (+$12 a day). At the pace of the last 7 days (+0.378% in total) that is about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX VIRTUAL-USDT	0.7237	0.0100	pay 0.0050% / 4h	3h 16m	$1K	$1.3M	20x
Short	Coinbase International VIRTUAL-PERP-INTX	0.7251	0.0512	get 0.0064% / 1h	16m 16s	$202K	$102K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.193%Rate

Funding earned: $86.52
Price spread: +0.193% → +0.282%: −$8.84
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $59.68
Costs to cover: 0.180%
Break-even: 2.2 days

Slippage unknown: SunX: live order book, 8 min ago; Coinbase International: live order book, 17 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, 8 min ago	500.84 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 17 min ago	6.32 bp	28.4 bp −$28	530.3 bp −$5,303	doesn't fit	doesn't fit

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	−0.0222%	1h	0.7242	+0.076%	$521K	$732K	50x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7221	−0.222%	$24	—	10x	as long as short
Lighter VIRTUAL	−0.0072%	1h	0.7231	−0.083%	$327K	$402K	5x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7227	−0.138%	$11K	$36K	5x	as long as short
Variational Omni VIRTUAL	−0.0024%	4h	0.7223	−0.187%	$541K	$753K	—	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7238	+0.014%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0006%	1h	0.7229	−0.111%	$22K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.658%	$46	$88K	5.5x	as long as short
SoDEX VIRTUAL-USD	+0.0053%	1h	0.7237	−0.003%	$1K	$9K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0075%	4h	0.7237	0.000%	$15K	$1.9M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7239	+0.034%	$93K	$303K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7229	−0.113%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7238	+0.016%	$16.2M	$41.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7236	−0.014%	$16.5M	$18.6M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7237	0.000%	$2.9M	$10.3M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7241	+0.055%	$1.5M	$3.2M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7236	−0.014%	$15.4M	$5.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7235	−0.028%	$3.4M	$4.6M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7242	+0.069%	$6.1M	$5.7M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7238	+0.014%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7228	−0.124%	$245K	$174K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7218	−0.269%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7220	−0.235%	$644K	$1.2M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7227	−0.138%	$41K	$234K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7235	−0.028%	$48K	$1.0M	5x	as long as short
SunX VIRTUAL-USDTlong	+0.0100%	4h	0.7237	long leg	$1K	$1.3M	20x
Extended VIRTUAL-USD	+0.0104%	1h	0.7234	−0.039%	$54K	$308K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7235	−0.023%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0154%	1h	0.7246	+0.127%	$8.9M	$3.8M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0313% / S −0.0258%	1h	0.7228	−0.130%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7223	−0.193%	$774K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTXshort	+0.0512%	1h	0.7251	+0.193%	$202K	$102K	50x
01 Exchange VIRTUALUSD	+0.6256%	1h	0.7370	+1.838%	$2K	$106	10x	as long as short