Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against Gate−0.042%7-day average −0.019% · you buy dearer than you sell

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

Long on Gate Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.036%+$4 on $10k

Price spread, last 4 days (all we have)−0.170%−$17 · spread now −0.042%, 7d avg −0.019%

Together, before fees−0.134%−$13 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: SunX is 0.023% cheaper against Gate than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate VIRTUAL_USDT	0.7145	0.0100	pay 0.0050% / 4h	3h 40m	$1.5M	$3.2M	75x
Short	SunX VIRTUAL-USDT	0.7142	0.0100	get 0.0050% / 4h	3h 40m	$1K	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.042%Rate

Funding earned: $0
Price spread: −0.042% → −0.019%: −$2.25
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee SunX: 4 bp × 2 orders: −$8
Net: −$25.25
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 3 min ago; SunX: live order book, 4 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 Gate live order book, 3 min ago	2.80 bp	23.9 bp −$24	94.3 bp −$943	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	500.94 bp	doesn't fit	doesn't fit	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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0590%	1h	0.7140	−0.070%	$15K	$40K	10x	as long as short
Kraken Futures PF_VIRTUALUSD	−0.0225%	1h	0.7145	−0.004%	$515K	$741K	50x	as long as short
Bybit VIRTUALUSDT	−0.0171%	4h	0.7134	−0.154%	$16.3M	$18.7M	50x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7139	−0.082%	$24	—	10x	as long as short
Lighter VIRTUAL	−0.0104%	1h	0.7138	−0.101%	$322K	$400K	5x	as long as short
Variational Omni VIRTUAL	−0.0062%	4h	0.7137	−0.107%	$535K	$756K	—	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7146	+0.015%	$11K	$36K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0006%	1h	0.7141	−0.052%	$22K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.392%	$46	$88K	5.5x	as long as short
SoDEX VIRTUAL-USD	+0.0053%	1h	0.7137	−0.105%	$1K	$9K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_VIRTUAL_USDC	+0.0073%	4h	0.7142	−0.042%	$15K	$1.8M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7144	−0.008%	$92K	$302K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7147	+0.030%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7138	−0.104%	$16.0M	$41.9M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7137	−0.112%	$2.9M	$10.1M	20x	as long as short
Gate VIRTUAL_USDTlong	+0.0100%	4h	0.7145	long leg	$1.5M	$3.2M	75x
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7143	−0.028%	$15.8M	$5.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7145	0.000%	$3.3M	$4.5M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7144	−0.014%	$6.0M	$5.7M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7143	−0.028%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7143	−0.028%	$236K	$175K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7152	+0.105%	$19K	$259K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7148	+0.043%	$641K	$1.2M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7155	+0.140%	$40K	$234K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7143	−0.035%	$47K	$1.1M	5x	as long as short
SunX VIRTUAL-USDTshort	+0.0100%	4h	0.7142	−0.042%	$1K	$1.3M	20x
Extended VIRTUAL-USD	+0.0104%	1h	0.7137	−0.110%	$55K	$307K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7140	−0.072%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0181%	1h	0.7153	+0.115%	$8.8M	$3.8M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0313% / S −0.0258%	1h	0.7151	+0.081%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7136	−0.126%	$779K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0512%	1h	0.7168	+0.322%	$200K	$101K	50x	as long as short
01 Exchange VIRTUALUSD	+0.6264%	1h	0.7272	+1.777%	$2K	$106	10x	as long as short