VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0197%/8h= −21.6% APRnext payment −$0.25 per $10,000 · paid last 24h −0.034%

Price spread now: Hyperliquid against GMX+0.110%7-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 Hyperliquid

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 airdropHyperliquid: Season 2 · farm boardneeds both histories

The price spread pays, funding is against you. Hyperliquid is 0.110% dearer against GMX than usual: you sell high and buy low (spread +0.110% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 45 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX VIRTUAL/USD [WBTC.b-USDC]	0.7145	L +0.0297% / S −0.0228%	pay 0.0037% / 1h	41m 51s	$30K	—	100x
Short	Hyperliquid VIRTUAL	0.7153	0.0100	get 0.0013% / 1h	41m 51s	$8.7M	$3.6M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.110%Rate

Funding earned: −$41.37
Price spread: +0.110% → 0.000%: $11.03
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$51.34
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Hyperliquid: live order book, 10 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 Hyperliquid live order book, 10 min ago	0.35 bp	11.3 bp −$11	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	−0.0310%	1h	0.7144	−0.011%	$15K	$40K	10x	as long as short
Injective VIRTUAL/USDC PERP	−0.0160%	1h	0.7117	−0.389%	$46	$88K	5.5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7141	−0.050%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7108	−0.513%	$11K	$45K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0072%	1h	0.7138	−0.095%	$2K	$131	10x	as long as short
Variational Omni VIRTUAL	−0.0011%	4h	0.7104	−0.578%	$518K	$872K	—	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7145	+0.001%	$12K	—	150x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0082%	4h	0.7141	−0.053%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7143	−0.028%	$325K	$391K	5x	as long as short
Hyperliquid VIRTUALshort	+0.0100%	1h	0.7153	+0.110%	$8.7M	$3.6M	5x

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7143	−0.020%	$194K	$80K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7145	+0.008%	$74K	$41K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7147	+0.031%	$16.4M	$36.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7148	+0.045%	$15.4M	$15.3M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7146	+0.017%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7141	−0.053%	$1.5M	$2.9M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7140	−0.067%	$17.2M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7143	−0.025%	$3.1M	$3.9M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7149	+0.059%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7140	−0.067%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7141	−0.053%	$235K	$158K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7104	−0.571%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7099	−0.641%	$629K	$974K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7105	−0.557%	$40K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7145	0.000%	$33K	$783K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7142	−0.039%	$1K	$1.2M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7141	−0.058%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7137	−0.110%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7145	0.000%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]long	L +0.0297% / S −0.0228%	1h	0.7145	long leg	$30K	—	100x
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7115	−0.417%	$816K	$795K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7152	+0.100%	$195K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0527%	1h	0.7149	+0.055%	$524K	$530K	50x	as long as short