Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against GRVT−0.565%7-day average +0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$113as in the Price arb table

costs, in and out, $10k−$510.512% of the position

Long on GRVT Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.129%+$13 on $10k

Price spread, last 4 days (all we have)+0.259%+$26 · spread now −0.565%, 7d avg +0.057%

Together, before fees+0.389%+ Points / potential airdropGRVT: Active · farm board+$39 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: Bitget is 0.622% cheaper against GRVT than usual: you would sell low and buy high, −$62 on $10k if it goes back to its 7-day average of +0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT VIRTUAL_USDT_Perp	0.7165	0.0100	pay 0.0050% / 4h	57m 40s	$639K	$867K	10x
Short	Bitget VIRTUALUSDT	0.7125	0.0100	get 0.0050% / 4h	57m 40s	$6.1M	$5.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against GRVT. 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 GRVTbpFee BitgetbpOrdersPrice spread, now −0.565%Rate

Funding earned: $0
Price spread: −0.565% → +0.057%: −$62.15
Slippage, 4 orders: −$30.22
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$113.38
Costs to cover: 0.512%
Break-even: never at this rate

Slippage from GRVT: live order book, 65 min ago; Bitget: live order book, 6 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 GRVT live order book, 65 min ago	2.78 bp	14.0 bp −$14	61.1 bp −$611	doesn't fit	doesn't fit
Sell Bitget live order book, 6 min ago	3.49 bp	12.6 bp −$13	29.8 bp −$298	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	−0.0449%	1h	0.7146	−0.272%	$15K	$40K	10x	as long as short
Lighter VIRTUAL	−0.0296%	1h	0.7126	−0.558%	$324K	$412K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0144%	1h	0.7126	−0.551%	$2K	$131	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7148	−0.245%	$24	—	10x	as long as short
Phoenix VIRTUAL	0.0000%	1h	0.7155	−0.153%	$11K	$34K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7150	−0.222%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.676%	$46	$88K	5.5x	as long as short
SoDEX VIRTUAL-USD	+0.0065%	1h	0.7146	−0.276%	$1K	$9K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7145	−0.286%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7139	−0.367%	$8.8M	$4.1M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7133	−0.455%	$97K	$291K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7128	−0.521%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7127	−0.540%	$16.3M	$40.4M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7130	−0.495%	$16.5M	$18.1M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7133	−0.453%	$2.8M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7129	−0.509%	$1.5M	$3.2M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7126	−0.551%	$17.5M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7132	−0.467%	$3.0M	$4.3M	50x	as long as short
Bitget VIRTUALUSDTshort	+0.0100%	4h	0.7125	−0.565%	$6.1M	$5.9M	25x
BingX VIRTUAL-USDT	+0.0100%	4h	0.7124	−0.579%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7143	−0.314%	$237K	$206K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7157	−0.118%	$533K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7155	−0.151%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perplong	+0.0100%	4h	0.7165	long leg	$639K	$867K	10x
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7159	−0.090%	$40K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7157	−0.122%	$51K	$984K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7148	−0.244%	$2K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7121	−0.626%	$53K	$265K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7157	−0.119%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0298% / S −0.0228%	1h	0.7149	−0.230%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7159	−0.090%	$816K	$894K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0416%	1h	0.7179	+0.189%	$207K	$98K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0802%	1h	0.7154	−0.160%	$595K	$665K	50x	as long as short