Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Gate against Extended+0.008%7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$690.692% of the position

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 4 days (all we have)−0.035%−$4 · spread now +0.008%, 7d avg +0.069%

Together, before fees−0.041%+ Points / potential airdropExtended: Active · farm board−$4 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 0.061% cheaper against Extended than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended VIRTUAL-USD	0.7159	0.0104	pay 0.0013% / 1h	57m 45s	$53K	$246K	10x
Short	Gate VIRTUAL_USDT	0.7160	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 Extended. 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 ExtendedbpFee GatebpOrdersPrice spread, now +0.008%Rate

Funding earned: −$0.84
Price spread: +0.008% → +0.069%: −$6.12
Slippage, 4 orders: −$49.2
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$76.16
Costs to cover: 0.692%
Break-even: never at this rate

Slippage from Extended: live order book, 24 min ago; Gate: live order book, 5 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 Extended live order book, 24 min ago	1.81 bp	15.0 bp −$15	120.6 bp −$1,206	doesn't fit	doesn't fit
Sell Gate live order book, 5 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
Lighter VIRTUAL	−0.0200%	1h	0.7150	−0.136%	$325K	$414K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0169%	1h	0.7154	−0.076%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7157	−0.040%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7158	−0.022%	$11K	$39K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0112%	1h	0.7154	−0.076%	$2K	$131	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7162	+0.035%	$12K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.592%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7153	−0.090%	$14K	$1.5M	10x	as long as short
SoDEX VIRTUAL-USD	+0.0098%	1h	0.7153	−0.092%	$1K	$9K	5x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7153	−0.086%	$525K	$878K	—	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VIRTUAL	+0.0100%	1h	0.7177	+0.239%	$8.7M	$3.7M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7161	+0.019%	$194K	$83K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7165	+0.077%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7162	+0.036%	$16.4M	$37.4M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7163	+0.050%	$15.4M	$15.6M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7166	+0.092%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDTshort	+0.0100%	4h	0.7160	+0.008%	$1.5M	$2.8M	75x
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7157	−0.034%	$17.2M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7162	+0.036%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7170	+0.148%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7159	−0.006%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7160	+0.008%	$235K	$159K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7157	−0.029%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7157	−0.034%	$634K	$965K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7161	+0.022%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7161	+0.025%	$27K	$815K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7154	−0.076%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USDlong	+0.0104%	1h	0.7159	long leg	$53K	$246K	10x
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7155	−0.063%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0297% / S −0.0228%	1h	0.7161	+0.023%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7168	+0.120%	$815K	$792K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7176	+0.232%	$195K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0512%	1h	0.7161	+0.026%	$536K	$544K	50x	as long as short