Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.028%

Price spread now: GRVT against gTrade (Gains Network)−0.135%52s7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Funding pays, the price is against you. GRVT is 0.135% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.135% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 4.8 days of funding at the current rate (+$3 a day). 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	gTrade (Gains Network) VIRTUAL/USD	0.7093	L +0.0007% / S −0.0006%	pay 0.0001% / 1h	31m 31s	$22K	—	150x
Short	GRVT VIRTUAL_USDT_Perp	0.7083	0.0100	get 0.0050% / 4h	1h 31m	$629K	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.135%Rate

Funding earned: $19.6
Price spread: −0.135% → 0.000%: −$13.46
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$12.86
Costs to cover: 0.190%
Break-even: 11.6 days

Slippage unknown: gTrade (Gains Network): no order-book sample; GRVT: live order book, 5 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 GRVT live order book, 5 min ago	2.81 bp	10.9 bp −$11	24.1 bp −$241	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 exchanges

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
Polymarket Perps VIRTUAL-USD	−0.0207%	1h	0.7093	+0.006%	$33K	$1.0M	5x	as long as short
Lighter VIRTUAL	−0.0200%	1h	0.7086	−0.099%	$323K	$368K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0173%	1h	0.7091	−0.022%	$25K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7084	−0.127%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0111%	1h	0.7081	−0.157%	$11K	$32K	5x	as long as short
SoDEX VIRTUAL-USD	−0.0031%	1h	0.7089	−0.043%	$1K	$9K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USDlong	L +0.0007% / S −0.0006%	1h	0.7093	long leg	$22K	—	150x
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	+0.345%	$46	$88K	5.5x	as long as short
Variational Omni VIRTUAL	+0.0052%	4h	0.7128	+0.495%	$677K	$816K	—	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0064%	1h	0.7100	+0.110%	$556K	$745K	50x	as long as short

Show all 33 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_VIRTUAL_USDC	+0.0084%	4h	0.7088	−0.064%	$14K	$1.8M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7100	+0.108%	$8.8M	$3.5M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7096	+0.049%	$99K	$306K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7095	+0.035%	$70K	$40K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7092	−0.008%	$15.8M	$40.8M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7094	+0.020%	$16.5M	$18.6M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7091	−0.022%	$2.7M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7094	+0.020%	$1.5M	$3.1M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7090	−0.036%	$14.5M	$5.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7094	+0.020%	$3.3M	$4.6M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7096	+0.049%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7091	−0.022%	—	$7.8M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7092	−0.008%	$243K	$178K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7082	−0.153%	$19K	$254K	10x	as long as short
GRVT VIRTUAL_USDT_Perpshort	+0.0100%	4h	0.7083	−0.135%	$629K	$1.5M	10x
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7115	+0.317%	$40K	$234K	50x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7093	+0.006%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7087	−0.075%	$54K	$309K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7083	−0.141%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0311% / S −0.0258%	1h	0.7116	+0.324%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7065	−0.388%	$772K	$939K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0480%	1h	0.7167	+1.050%	$201K	$96K	50x	as long as short
01 Exchange VIRTUALUSD	+0.6224%	1h	0.7225	+1.867%	$2K	$27	10x	as long as short