Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0398%/8h= −43.6% APRpaid last 24h −0.075%

Price spread now: Deribit against Gate−0.069%7-day average — · you buy dearer than you sell

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

Long on Gate Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 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

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Deribit is 0.069% cheaper against Gate than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate VIRTUAL_USDT	0.7297	0.0100	pay 0.0050% / 4h	37m 00s	$1.5M	$3.0M	75x
Short	Deribit VIRTUAL_USDC-PERPETUAL	0.7292	−0.0298	pay 0.0037% / 1h	37m 00s	$15K	$40K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Gate. 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 GatebpFee DeribitbpOrdersPrice spread, now −0.069%Rate

Funding earned: −$83.63
Price spread: −0.069% → 0.000%: −$6.85
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$112.48
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 1 min ago; Deribit: 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 Gate live order book, 1 min ago	4.79 bp	18.3 bp −$18	81.9 bp −$819	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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-PERPETUALshort	−0.0298%	1h	0.7292	−0.069%	$15K	$40K	10x
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7298	+0.016%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0128%	1h	0.7298	+0.014%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0066%	1h	0.7311	+0.199%	$11K	$40K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7297	+0.003%	$9K	—	150x	as long as short
Lighter VIRTUAL	+0.0024%	1h	0.7290	−0.090%	$332K	$415K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.467%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0093%	4h	0.7291	−0.082%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7301	+0.052%	$200K	$101K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7303	+0.084%	$73K	$44K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VIRTUALUSDT	+0.0100%	4h	0.7304	+0.100%	$16.6M	$38.3M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7309	+0.164%	$16.2M	$16.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7308	+0.151%	$2.9M	$9.5M	20x	as long as short
Gate VIRTUAL_USDTlong	+0.0100%	4h	0.7297	long leg	$1.5M	$3.0M	75x
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7290	−0.096%	$18.1M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7294	−0.041%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7296	−0.014%	$6.3M	$5.5M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7292	−0.069%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7293	−0.055%	$247K	$169K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7310	+0.172%	$535K	$878K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7312	+0.207%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7318	+0.292%	$650K	$915K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7308	+0.151%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7304	+0.092%	$36K	$954K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7287	−0.137%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7290	−0.099%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7288	−0.120%	$54K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7291	−0.081%	$18K	$505	3x	as long as short
Hyperliquid VIRTUAL	+0.0155%	1h	0.7300	+0.036%	$9.1M	$3.9M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7299	+0.027%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7294	−0.041%	$813K	$846K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7310	+0.178%	$199K	$96K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0862%	1h	0.7307	+0.135%	$595K	$578K	50x	as long as short