Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0199%/8h= −21.8% APRpaid last 24h −0.052%

Price spread now: Aster against GMX+0.141%61s7-day average — · you sell dearer than you buy

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

Long on GMX Short on Aster

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 airdropAster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.141% dearer against GMX than usual: you sell high and buy low (spread +0.141% now, against zero (this spread has no 7-day history yet)): +$14 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.4 days. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX VIRTUAL/USD [WBTC.b-USDC]	0.7295	L +0.0299% / S −0.0228%	pay 0.0037% / 1h	37m 26s	$31K	—	100x
Short	Aster VIRTUALUSDT	0.7305	0.0100	get 0.0050% / 4h	37m 26s	$200K	$101K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against GMX. 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 GMXbpFee AsterbpOrdersPrice spread, now +0.141%Rate

Funding earned: −$41.87
Price spread: +0.141% → 0.000%: $14.11
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$47.77
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Aster: live order book, 39 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 GMX no order-book sample	—	—	—	—	—
Sell Aster live order book, 39 min ago	5.56 bp	17.6 bp −$18	doesn't fit	doesn't fit	doesn't fit

GMX: 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	−0.0435%	1h	0.7293	−0.023%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7298	+0.047%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0128%	1h	0.7298	+0.045%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0066%	1h	0.7311	+0.230%	$11K	$40K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7297	+0.035%	$9K	—	150x	as long as short
Lighter VIRTUAL	+0.0024%	1h	0.7294	−0.011%	$332K	$415K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.436%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0093%	4h	0.7294	−0.010%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDTshort	+0.0100%	4h	0.7305	+0.141%	$200K	$101K	20x
Pacifica VIRTUAL	+0.0100%	1h	0.7303	+0.116%	$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	0.7297	+0.035%	$16.6M	$38.2M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7294	−0.010%	$16.2M	$16.4M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7299	+0.059%	$2.9M	$9.5M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7302	+0.100%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7297	+0.031%	$18.1M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7303	+0.114%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7305	+0.141%	$6.3M	$5.5M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7297	+0.031%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7303	+0.114%	$247K	$169K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7310	+0.204%	$535K	$878K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7312	+0.238%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7318	+0.324%	$650K	$915K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7308	+0.182%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7304	+0.123%	$36K	$954K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7287	−0.106%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7290	−0.067%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7299	+0.056%	$54K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7293	−0.026%	$18K	$505	3x	as long as short
Hyperliquid VIRTUAL	+0.0160%	1h	0.7311	+0.218%	$9.1M	$3.9M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]long	L +0.0299% / S −0.0228%	1h	0.7295	long leg	$31K	—	100x
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7299	+0.059%	$811K	$849K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7331	+0.497%	$199K	$97K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0863%	1h	0.7303	+0.112%	$595K	$578K	50x	as long as short