VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0040%/8h= −4.4% APRnext payment −$0.05 per $10,000 · paid last 24h −0.029%

Price spread now: Phoenix against gTrade (Gains Network)+0.083%7-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 Phoenix

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—needs both histories

The price spread pays, funding is against you. Phoenix is 0.083% dearer against gTrade (Gains Network) than usual: you sell high and buy low (spread +0.083% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) VIRTUAL/USD	0.7156	L +0.0007% / S −0.0005%	pay 0.0001% / 1h	53m 11s	$14K	—	150x
Short	Phoenix VIRTUAL	0.7162	−0.0034	pay 0.0004% / 1h	53m 11s	$11K	$37K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.083%Rate

Funding earned: −$8.43
Price spread: +0.083% → 0.000%: $8.34
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$17.09
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: gTrade (Gains Network): no order-book sample; Phoenix: no order-book sample. 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 Phoenix no order-book sample	—	—	—	—	—

gTrade (Gains Network) and Phoenix: 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	−0.0309%	1h	0.7152	−0.051%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7152	−0.047%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0104%	1h	0.7151	−0.065%	$2K	$131	10x	as long as short
Lighter VIRTUAL	−0.0080%	1h	0.7148	−0.111%	$325K	$413K	5x	as long as short
Phoenix VIRTUALshort	−0.0034%	1h	0.7162	+0.083%	$11K	$37K	5x
gTrade (Gains Network) VIRTUAL/USDlong	L +0.0007% / S −0.0005%	1h	0.7156	long leg	$14K	—	150x
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.540%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7152	−0.051%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7158	+0.037%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7156	+0.010%	$97K	$292K	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	0.7157	+0.025%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7149	−0.093%	$16.3M	$40.3M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7149	−0.093%	$16.5M	$18.2M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7151	−0.065%	$2.8M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7155	−0.009%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7148	−0.107%	$17.8M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7152	−0.051%	$3.0M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7154	−0.023%	$6.1M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7156	+0.005%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7151	−0.065%	$237K	$205K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7175	+0.275%	$534K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7168	+0.170%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7164	+0.121%	$639K	$867K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7138	−0.246%	$40K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7158	+0.030%	$51K	$984K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7154	−0.023%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7152	−0.048%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7152	−0.046%	$55K	$267K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7155	−0.007%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0298% / S −0.0228%	1h	0.7153	−0.031%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7145	−0.149%	$807K	$892K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0416%	1h	0.7179	+0.327%	$207K	$98K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0801%	1h	0.7162	+0.092%	$596K	$663K	50x	as long as short