Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: Gate against Bybit−0.042%7-day average +0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$610.614% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.024%+$2 on $10k

Price spread, last 7 days+0.083%+$8 · spread now −0.042%, 7d avg +0.053%

Together, before fees+0.106%+$11 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: Gate is 0.095% cheaper against Bybit than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit VIRTUALUSDT	0.7169	0.0100	pay 0.0050% / 4h	1h 57m	$15.4M	$15.6M	50x
Short	Gate VIRTUAL_USDT	0.7166	0.0100	get 0.0050% / 4h	1h 57m	$1.5M	$2.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bybit. 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 BybitbpFee GatebpOrdersPrice spread, now −0.042%Rate

Funding earned: $0
Price spread: −0.042% → +0.053%: −$9.48
Slippage, 4 orders: −$35.41
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$70.89
Costs to cover: 0.614%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Gate: live order book, 6 min ago.

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 Bybit live order book, 1 min ago	0.70 bp	11.5 bp −$12	22.6 bp −$226	doesn't fit	doesn't fit
Sell Gate live order book, 6 min ago	3.49 bp	19.3 bp −$19	90.4 bp −$904	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	0.7168	−0.017%	$24	—	10x	as long as short
Lighter VIRTUAL	−0.0120%	1h	0.7163	−0.086%	$326K	$414K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0120%	1h	0.7163	−0.084%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7158	−0.156%	$11K	$39K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0029%	1h	0.7170	+0.014%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7172	+0.041%	$12K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.725%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7170	+0.014%	$14K	$1.5M	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7153	−0.220%	$525K	$878K	—	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7175	+0.077%	$8.7M	$3.7M	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	0.7167	−0.032%	$194K	$83K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7169	+0.006%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7168	−0.011%	$16.4M	$37.4M	75x	as long as short
Bybit VIRTUALUSDTlong	+0.0100%	4h	0.7169	long leg	$15.4M	$15.6M	50x
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7169	0.000%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDTshort	+0.0100%	4h	0.7166	−0.042%	$1.5M	$2.8M	75x
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7165	−0.056%	$17.2M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7166	−0.042%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7172	+0.042%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7168	−0.014%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7160	−0.126%	$235K	$159K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7160	−0.131%	$19K	$255K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7157	−0.168%	$634K	$965K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7161	−0.112%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7171	+0.035%	$29K	$815K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7167	−0.028%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7166	−0.045%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7164	−0.071%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7168	−0.019%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0297% / S −0.0228%	1h	0.7172	+0.036%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7167	−0.028%	$814K	$792K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7176	+0.098%	$195K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0511%	1h	0.7176	+0.103%	$537K	$544K	50x	as long as short