Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0099%/8h= −10.8% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against BingX−0.108%7-day average — · you buy dearer than you sell

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

Long on BingX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.108% cheaper against BingX than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX VIRTUAL-USDT	0.7200	0.0100	pay 0.0050% / 4h	2h 56m	—	$8.1M	—
Short	gTrade (Gains Network) VIRTUAL/USD	0.7192	L +0.0007% / S −0.0001%	get 0.0000% / 1h	56m 00s	$4K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against BingX. 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 BingXbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.108%Rate

Funding earned: −$20.72
Price spread: −0.108% → 0.000%: −$10.83
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$51.55
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 12 min ago; gTrade (Gains Network): no order-book sample. 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 BingX live order book, 12 min ago	2.03 bp	9.7 bp −$10	13.6 bp −$136	25.4 bp −$2,542	101.6 bp −$50.8K
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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 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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0306%	1h	0.7191	−0.125%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7192	−0.113%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0109%	1h	0.7305	+1.451%	$11K	$37K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0104%	1h	0.7194	−0.083%	$2K	$131	10x	as long as short
SoDEX VIRTUAL-USD	−0.0051%	1h	0.7189	−0.146%	$1K	$9K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USDshort	L +0.0007% / S −0.0001%	1h	0.7192	−0.108%	$4K	—	150x
Lighter VIRTUAL	+0.0016%	1h	0.7186	−0.192%	$326K	$413K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.153%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7190	−0.139%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7198	−0.031%	$8.9M	$4.1M	5x	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	0.7194	−0.084%	$171K	$194K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7197	−0.038%	$71K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7200	0.000%	$16.6M	$40.8M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7193	−0.097%	$16.2M	$17.7M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7194	−0.083%	$2.8M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7196	−0.056%	$1.4M	$3.1M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7200	0.000%	$17.4M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7198	−0.028%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7201	+0.014%	$6.2M	$5.9M	25x	as long as short
BingX VIRTUAL-USDTlong	+0.0100%	4h	0.7200	long leg	—	$8.1M	—
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7193	−0.097%	$249K	$174K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7183	−0.231%	$526K	$898K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7260	+0.833%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7261	+0.847%	$646K	$877K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7266	+0.917%	$41K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7199	−0.019%	$51K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7186	−0.194%	$2K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7197	−0.044%	$54K	$272K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7190	−0.142%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7190	−0.144%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7209	+0.125%	$831K	$851K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7288	+1.222%	$198K	$93K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.1026%	1h	0.7198	−0.024%	$595K	$659K	50x	as long as short