Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: GRVT against Extended+0.139%52s7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$770.770% of the position

Long on Extended Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.100%−$10 on $10k

Price spread, last 4 days (all we have)+0.012%+$1 · spread now +0.139%, 7d avg +0.010%

Together, before fees−0.087%+ Points / potential airdropExtended: Active · GRVT: Active · farm board−$9 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: GRVT is 0.129% dearer against Extended than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.010%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended VIRTUAL-USD	0.7158	0.0104	pay 0.0013% / 1h	0m 41s	$54K	$303K	10x
Short	GRVT VIRTUAL_USDT_Perp	0.7168	0.0100	get 0.0050% / 4h	2h 00m	$641K	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.139%Rate

Funding earned: −$0.84
Price spread: +0.139% → +0.010%: $12.85
Slippage, 4 orders: −$63.04
Fee Extended: 2.5 bp × 2 orders: −$5
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$65.02
Costs to cover: 0.770%
Break-even: never at this rate

Slippage from Extended: live order book, 47 min ago; GRVT: live order book, 2 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, 47 min ago	2.60 bp	15.1 bp −$15	190.1 bp −$1,901	doesn't fit	doesn't fit
Sell GRVT live order book, 2 min ago	2.09 bp	23.5 bp −$23	68.8 bp −$688	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	0.7166	+0.104%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0120%	1h	0.7165	+0.097%	$2K	$106	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7172	+0.192%	$11K	$36K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0029%	1h	0.7169	+0.153%	$15K	$40K	10x	as long as short
Lighter VIRTUAL	0.0000%	1h	0.7157	−0.012%	$325K	$403K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7168	+0.139%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.574%	$46	$88K	5.5x	as long as short
Bybit VIRTUALUSDT	+0.0037%	4h	0.7157	−0.015%	$16.3M	$19.0M	50x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0074%	4h	0.7169	+0.153%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7166	+0.110%	$93K	$302K	20x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7166	+0.106%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7160	+0.027%	$16.1M	$42.2M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7165	+0.097%	$2.9M	$10.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7165	+0.097%	$1.5M	$3.5M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7160	+0.027%	$15.4M	$5.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7165	+0.097%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7161	+0.041%	$6.0M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7160	+0.027%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7170	+0.167%	$238K	$206K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7162	+0.057%	$533K	$914K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7168	+0.137%	$19K	$262K	10x	as long as short
GRVT VIRTUAL_USDT_Perpshort	+0.0100%	4h	0.7168	+0.139%	$641K	$1.0M	10x
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7185	+0.376%	$40K	$237K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7166	+0.111%	$51K	$1.0M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7170	+0.167%	$2K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7166	+0.104%	$1K	$9K	5x	as long as short
Hyperliquid VIRTUAL	+0.0104%	1h	0.7170	+0.164%	$8.8M	$4.1M	5x	as long as short
Extended VIRTUAL-USDlong	+0.0104%	1h	0.7158	long leg	$54K	$303K	10x
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7167	+0.132%	$18K	—	3x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0278%	1h	0.7173	+0.206%	$527K	$764K	50x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0313% / S −0.0258%	1h	0.7168	+0.140%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7164	+0.083%	$782K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0432%	1h	0.7192	+0.474%	$200K	$102K	50x	as long as short