Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.028%

Price spread now: edgeX against gTrade (Gains Network)+0.377%68s7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on edgeX

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—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and edgeX is 0.377% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$38 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 68 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	gTrade (Gains Network) VIRTUAL/USD	0.7298	L +0.0007% / S −0.0010%	pay 0.0001% / 1h	27m 42s	$9K	—	150x
Short	edgeX VIRTUALUSDC	0.7325	0.0100	get 0.0050% / 4h	27m 42s	$19K	$258K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee edgeXbpOrdersPrice spread, now +0.377%Rate

Funding earned: $19.49
Price spread: +0.377% → 0.000%: $37.66
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $38.15
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: gTrade (Gains Network): no order-book sample; edgeX: live order book, 50 min ago. 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell edgeX live order book, 50 min ago	2.09 bp	7.3 bp −$7	30.8 bp −$308	doesn't fit	doesn't fit

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	−0.0435%	1h	0.7293	−0.064%	$15K	$40K	10x	as long as short
01 Exchange VIRTUALUSD	−0.0144%	1h	0.7290	−0.105%	$2K	$131	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7291	−0.086%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0066%	1h	0.7326	+0.387%	$12K	$40K	5x	as long as short
Lighter VIRTUAL	−0.0048%	1h	0.7278	−0.274%	$331K	$415K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USDlong	L +0.0007% / S −0.0010%	1h	0.7298	long leg	$9K	—	150x
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.476%	$46	$88K	5.5x	as long as short
SoDEX VIRTUAL-USD	+0.0072%	1h	0.7288	−0.139%	$1K	$9K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0092%	4h	0.7292	−0.078%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7288	−0.133%	$200K	$102K	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	0.7282	−0.214%	$73K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7281	−0.229%	$16.6M	$38.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7279	−0.256%	$16.1M	$16.6M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7276	−0.297%	$2.9M	$9.5M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7283	−0.201%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7280	−0.242%	$18.1M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7283	−0.201%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7284	−0.187%	$6.3M	$5.5M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7284	−0.187%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7287	−0.146%	$246K	$169K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7306	+0.109%	$537K	$878K	—	as long as short
edgeX VIRTUALUSDCshort	+0.0100%	4h	0.7325	+0.377%	$19K	$258K	10x
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7300	+0.032%	$648K	$915K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7332	+0.470%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7299	+0.025%	$36K	$955K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7285	−0.174%	$2K	$1.3M	20x	as long as short
Hyperliquid VIRTUAL	+0.0102%	1h	0.7292	−0.075%	$9.1M	$4.0M	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7281	−0.230%	$54K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7290	−0.099%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7297	−0.008%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7291	−0.092%	$816K	$847K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7339	+0.566%	$199K	$94K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0862%	1h	0.7306	+0.107%	$597K	$582K	50x	as long as short