Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0239%/8h= −26.2% APRpaid last 24h −0.072%

Price spread now: Reya against Gate+0.037%7-day average — · you sell dearer than you buy

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

Long on Gate Short on Reya

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 airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. Reya is 0.037% dearer against Gate than usual: you sell high and buy low (spread +0.037% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate VIRTUAL_USDT	0.7111	0.0100	pay 0.0050% / 4h	2h 43m	$1.5M	$3.3M	75x
Short	Reya VIRTUALRUSDPERP	0.7114	−0.0139	pay 0.0017% / 1h	43m 53s	$24	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.037%Rate

Funding earned: −$50.19
Price spread: +0.037% → 0.000%: $3.66
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Reya: 3 bp × 2 orders: −$6
Net: −$67.54
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 4 min ago; Reya: 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, 4 min ago	4.21 bp	22.5 bp −$23	99.0 bp −$990	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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
Reya VIRTUALRUSDPERPshort	−0.0139%	1h	0.7114	+0.037%	$24	—	10x
01 Exchange VIRTUALUSD	−0.0128%	1h	0.7112	+0.014%	$2K	$106	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7126	+0.207%	$11K	$36K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0031%	1h	0.7116	+0.070%	$15K	$40K	10x	as long as short
Lighter VIRTUAL	−0.0024%	1h	0.7102	−0.131%	$323K	$402K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7117	+0.087%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	+0.084%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0077%	4h	0.7114	+0.042%	$14K	$1.4M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7119	+0.114%	$8.7M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7113	+0.027%	$93K	$299K	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	0.7118	+0.104%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7106	−0.070%	$16.0M	$41.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7105	−0.084%	$16.4M	$18.8M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7109	−0.028%	$2.8M	$9.8M	20x	as long as short
Gate VIRTUAL_USDTlong	+0.0100%	4h	0.7111	long leg	$1.5M	$3.3M	75x
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7106	−0.070%	$15.7M	$4.8M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7110	−0.014%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7106	−0.070%	$6.1M	$5.9M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7108	−0.042%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7116	+0.070%	$238K	$210K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7108	−0.039%	$532K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7122	+0.155%	$19K	$262K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7121	+0.136%	$629K	$987K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7128	+0.239%	$40K	$238K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7117	+0.080%	$52K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7118	+0.098%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7112	+0.018%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7105	−0.087%	$57K	$302K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7113	+0.022%	$18K	—	3x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0280%	1h	0.7124	+0.185%	$581K	$676K	50x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0317% / S −0.0269%	1h	0.7115	+0.063%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7112	+0.014%	$789K	$980K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0432%	1h	0.7162	+0.717%	$199K	$104K	50x	as long as short