Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.020%

Price spread now: Extended against Variational Omni+0.014%7-day average −0.019% · you sell dearer than you buy

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

Long on Variational Omni Short on Extended

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.057%+$6 on $10k

Price spread, last 4 days (all we have)−0.279%−$28 · spread now +0.014%, 7d avg −0.019%

Together, before fees−0.222%+ Points / potential airdropVariational Omni: Active · Extended: Active · farm board−$22 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.034% dearer against Variational Omni than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni VIRTUAL	0.7181	0.0100	pay 0.0050% / 4h	0m 04s	$537K	$913K	—
Short	Extended VIRTUAL-USD	0.7182	0.0104	get 0.0013% / 1h	0m 04s	$54K	$263K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee ExtendedbpOrdersPrice spread, now +0.014%Rate

Funding earned: $0.84
Price spread: +0.014% → −0.019%: $3.38
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$0.78
Costs to cover: 0.050%
Break-even: 13.5 days

Slippage unknown: Variational Omni: RFQ quote, 59 min ago; Extended: live order book, 57 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 Variational Omni RFQ quote, 59 min ago	4.20 bp	doesn't fit	23.8 bp −$238	doesn't fit	doesn't fit
Sell Extended live order book, 57 min ago	2.66 bp	15.9 bp −$16	128.1 bp −$1,281	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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7188	+0.099%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0064%	1h	0.7187	+0.080%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7155	−0.361%	$11K	$37K	5x	as long as short
Lighter VIRTUAL	−0.0016%	1h	0.7185	+0.051%	$327K	$415K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7192	+0.146%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.895%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0093%	4h	0.7191	+0.136%	$14K	$1.4M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7192	+0.154%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7193	+0.159%	$97K	$292K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7192	+0.151%	$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	0.7184	+0.032%	$16.3M	$40.7M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7182	+0.011%	$16.5M	$18.4M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7190	+0.122%	$2.8M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7190	+0.122%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7185	+0.052%	$17.5M	$4.5M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7193	+0.164%	$3.0M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7188	+0.094%	$6.2M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7188	+0.094%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7189	+0.108%	$239K	$208K	10x	as long as short
Variational Omni VIRTUALlong	+0.0100%	4h	0.7181	long leg	$537K	$913K	—
edgeX VIRTUALUSDC	+0.0100%	4h	0.7161	−0.280%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7166	−0.212%	$640K	$913K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7165	−0.226%	$41K	$239K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7193	+0.158%	$55K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7190	+0.122%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7189	+0.108%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USDshort	+0.0104%	1h	0.7182	+0.014%	$54K	$263K	10x
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7190	+0.118%	$18K	—	3x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	+0.0167%	1h	0.7192	+0.150%	$15K	$40K	10x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0316% / S −0.0265%	1h	0.7189	+0.105%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7186	+0.066%	$801K	$901K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0416%	1h	0.7184	+0.038%	$201K	$105K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0797%	1h	0.7198	+0.230%	$593K	$664K	50x	as long as short