VIRTUAL Funding Rate — live across 16 venues

Compared across 16 supported venues · net of estimated fees · updated every few minutes

Live annualized VIRTUAL perpetual funding across all 16 venues Perpia tracks. Right now VIRTUAL funding is positive on 13 and negative on 3, ranging from +10.9% on OKX to -35.4% on Sodex — a spread of 46.4%. The widest delta-neutral trade is long Sodex / short OKX at 43.4% net APR.

venues

paying positive

46.4%

funding spread

Best VIRTUAL spread now

43.4%

net APR after fees

Long Sodex→Short OKX

size depends on live venue depth — see the real cap in the scanner

VIRTUAL funding trend & liquidity

168h of history

46.4%

current gross APR

54.6%

24h average

36.8%

7-day average

$27K

pair OI · lower leg

$15K

24h volume · lower leg

Averages are historical funding over the window shown. A current rate near the 7-day average may indicate the spread has persisted; a rate far above it is usually a short-lived spike. OI and volume are the smaller (binding) leg of the best pair — the ceiling on tradeable size.

VIRTUAL funding rate history

30d · 6h buckets · 12 venues

86.8%0-119.5%

4 Aug3 Sep

VIRTUAL — average across 12 venuesAsterBackPackExtendedHyperliquid

Annualized funding, averaged into 6-hour buckets. The bold line is the mean across venues quoting in that bucket; the faint lines are individual venues. Mean over the window: +6.3%. A break in a line means no data was recorded for that stretch, not a zero rate.

VIRTUAL funding rate by venue

68 pairs scanned

Venue	Funding APR	Interval
OKX ↗	+10.9%	4h
Bybit ↗	+10.9%	4h
KuCoin ↗	+10.9%	4h
Bitget ↗	+10.9%	4h
BingX ↗	+10.9%	4h
Gate.io ↗	+10.9%	4h
Hyperliquid ↗	+10.9%	1h
Aster ↗	+10.9%	1h
BackPack ↗	+10.9%	1h
Pacifica ↗	+10.9%	1h
MEXC ↗	+6.1%	4h
Extended ↗	+6.1%	1h
Binance ↗	+6.0%	4h
Variational ↗	-10.8%	4h
Lighter ↗	-14.9%	8h
Sodex ↗	-35.4%	1h

Rates annualized; updated ~every few minutes from live venue data. Venue names link to that exchange's full funding table; ↗ opens the market on the exchange itself. Every spread between these two venues is on the Sodex vs OKX page.

VIRTUAL arbitrage — 30-day backtest

long Sodex · short OKX

6.2%

backtested APR

+$51

historical net P&L on $10,000

0.56%

max drawdown

$10,000$10,051

30 days agostarting capital $10,000today

Over the last 30 days, holding long Sodex / short OKX would have produced 6.2% APR — versus the 43.4% the live spread implies right now (equity $10,000 → $10,051). This is a backtest on historical funding, not a live result: funding drifts and decays, so backtested results rarely match the current headline rate — which is why size and holding window matter more than the top-line number.

Open full interactive backtest →

Loading VIRTUAL backtest…

VIRTUAL funding — FAQ

Is VIRTUAL funding positive right now?

VIRTUAL perpetual funding is positive on 13 of 16 venues Perpia tracks and negative on 3. The highest is +10.9% on OKX; the lowest is -35.4% on Sodex.

What is the best VIRTUAL funding arbitrage right now?

Go long Sodex and short OKX for about 43.4% net APR after fees — the widest delta-neutral VIRTUAL spread Perpia currently sees.

Which exchange has the highest VIRTUAL funding rate?

OKX, at +10.9% annualized. Funding shifts continuously, so check the live table above before trading.

How VIRTUAL funding arbitrage works

Funding arbitrage combines opposing positions on two venues — long the one paying the most negative funding, short the one paying the most positive — to reduce directional exposure and capture the difference between their funding payments. Fees, slippage, basis divergence and liquidation risk can reduce the result. See the methodology for how it is measured and the guide for the full walkthrough.

Markets related to VIRTUAL

Markets also quoted on both OKX and Sodex — the same two exchanges you would already have funded for the VIRTUAL trade.

See every spread between them on the OKX vs Sodex page.

Open the live scanner →All funding rates Funding by exchange How we calculate this