Spread before costs (cost unknown: a leg has no order-book sample)+0.167%
7d average—if it closes, per $10,000$17funding while held, a day−$4.07
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni VIRTUAL | 0.7097 | 0.0034 | pay 0.0017% / 4h | 1h 59m | $713K | $595K | — |
| Short | Phoenix VIRTUAL | 0.7109 | −0.0101 | pay 0.0013% / 1h | 59m 59s | $11K | $42K | 5x |
Variational Omni VIRTUAL
Phoenix 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
- $16.7
- Funding while held
- −$4.07
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $5.63
- Spread needed to break even
- 0.070%
Slippage unknown: Variational Omni: RFQ quote, 61 min ago; Phoenix: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0136%
- Per $10,000 a day
- −$4.07
- 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 Variational Omni RFQ quote, 61 min ago | 4.23 bp | doesn't fit | 19.7 bp −$197 | doesn't fit | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
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 price on every exchange
against the cheapest. Click to use as the short leg.Injective0.6744cheapestExtended0.7067+4.791%Bybit0.7068+4.804%BingX0.7070+4.834%Binance0.7072+4.864%OKX0.7072+4.864%Gate0.7072+4.864%KuCoin0.7073+4.878%Polymarket Perps0.7073+4.881%Backpack0.7074+4.893%Deribit0.7074+4.893%Reya0.7074+4.895%Aevo0.7075+4.903%MEXC0.7075+4.908%Orderly0.7075+4.908%SoDEX0.7076+4.915%Lighter0.7077+4.941%Bitget0.7078+4.953%gTrade (Gains Network)0.7078+4.958%Aster0.7080+4.976%GMX0.7080+4.982%Hyperliquid0.7080+4.987%SunX0.7081+4.997%Kraken Futures0.7084+5.045%01 Exchange0.7085+5.056%Coinbase International0.7088+5.101%Pacifica0.7094+5.190%BloFin0.7095+5.205%
Injective
Extended
Bybit
BingX
Binance
OKX
Gate
KuCoin
Polymarket Perps
Backpack
Deribit
Reya
Aevo
MEXC
Orderly
SoDEX
Lighter
Bitget
gTrade (Gains Network)
Aster
GMX
Hyperliquid
SunX
Kraken Futures
Coinbase International
Pacifica
BloFinVariational Omni0.7097+5.235%
ApeX Omni0.7099+5.264%edgeX0.7105+5.359%
ApeX OmniPhoenix0.7109+5.411%
VIRTUAL on 32 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective VIRTUAL/USDC PERP | −4.975% | +0.0033% | 1h | $43 | $105K | 5.5x | as long as short |
| Extended VIRTUAL-USD | −0.422% | +0.0104% | 1h | $55K | $244K | 10x | as long as short |
| Bybit VIRTUALUSDT | −0.409% | +0.0100% | 4h | $15.6M | $15.2M | 50x | as long as short |
| BingX VIRTUAL-USDT | −0.381% | +0.0100% | 4h | — | $8.3M | — | as long as short |
| Binance VIRTUALUSDT | −0.353% | +0.0100% | 4h | $16.6M | $35.0M | 75x | as long as short |
| OKX VIRTUAL-USDT-SWAP | −0.353% | +0.0100% | 4h | $2.8M | $10.2M | 20x | as long as short |
| Gate VIRTUAL_USDT | −0.353% | +0.0100% | 4h | $1.5M | $2.9M | 75x | as long as short |
| KuCoin VIRTUALUSDTM | −0.339% | +0.0100% | 4h | $3.0M | $4.1M | 50x | as long as short |
| Polymarket Perps VIRTUAL-USD | −0.336% | −0.0530% | 1h | $30K | $778K | 5x | as long as short |
| Backpack VIRTUAL_USDC_PERP | −0.325% | +0.0100% | 1h | $230K | $163K | 10x | as long as short |