Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.014%

Price spread now: Polymarket Perps against Gate+0.051%7-day average −0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$550.547% of the position

Long on Gate Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.233%−$23 on $10k

Price spread, last 3 days (all we have)+0.178%+$18 · spread now +0.051%, 7d avg −0.001%

Together, before fees−0.056%−$6 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: Polymarket Perps is 0.052% dearer against Gate than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate VIRTUAL_USDT	0.7225	0.0100	pay 0.0050% / 4h	1h 02m	$1.5M	$2.9M	75x
Short	Polymarket Perps VIRTUAL-USD	0.7229	0.0100	get 0.0013% / 1h	2m 29s	$34K	$896K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.051%Rate

Funding earned: $0
Price spread: +0.051% → −0.001%: $5.2
Slippage, 4 orders: −$31.69
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$49.49
Costs to cover: 0.547%
Break-even: never at this rate

Slippage from Gate: live order book, 6 min ago; Polymarket Perps: live order book, 16 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 Gate live order book, 6 min ago	4.18 bp	17.0 bp −$17	78.3 bp −$783	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 16 min ago	3.48 bp	7.6 bp −$8	7.7 bp −$77	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	0.7223	−0.034%	$24	—	10x	as long as short
Lighter VIRTUAL	−0.0128%	1h	0.7220	−0.075%	$328K	$414K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0128%	1h	0.7222	−0.042%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0045%	1h	0.7221	−0.058%	$11K	$40K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7216	−0.125%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7226	+0.010%	$13K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.495%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0092%	4h	0.7214	−0.152%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7235	+0.140%	$8.8M	$3.8M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7226	+0.013%	$190K	$91K	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	0.7223	−0.029%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7226	+0.013%	$16.4M	$37.8M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7223	−0.028%	$15.7M	$16.0M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7222	−0.042%	$2.8M	$9.3M	20x	as long as short
Gate VIRTUAL_USDTlong	+0.0100%	4h	0.7225	long leg	$1.5M	$2.9M	75x
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7223	−0.028%	$17.5M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7226	+0.014%	$4.4M	$4.1M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7230	+0.069%	$6.2M	$5.4M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7225	0.000%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7221	−0.055%	$240K	$159K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7185	−0.560%	$525K	$878K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7201	−0.332%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7210	−0.208%	$638K	$918K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7182	−0.595%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USDshort	+0.0100%	1h	0.7229	+0.051%	$34K	$896K	5x
SunX VIRTUAL-USDT	+0.0100%	4h	0.7214	−0.152%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7214	−0.147%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7220	−0.064%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7213	−0.171%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7226	+0.010%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7209	−0.221%	$806K	$811K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7229	+0.055%	$196K	$96K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0508%	1h	0.7224	−0.008%	$588K	$596K	50x	as long as short