VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0011%/8h= −1.2% APRnext payment −$0.05 per $10,000 · paid last 24h +0.011%

Price spread now: Orderly against GRVT−0.260%70s7-day average +0.031% · you buy dearer than you sell

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

Long on GRVT Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.052%−$5 on $10k

Price spread, last 3 days (all we have)+0.283%+$28 · spread now −0.260%, 7d avg +0.031%

Together, before fees+0.231%+ Points / potential airdropGRVT: Active · farm board+$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Orderly is 0.291% cheaper against GRVT than usual: you would sell low and buy high (−$29 if the spread goes back to its 7-day average of +0.031%). Swap the legs. The two prices were read 70 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	GRVT VIRTUAL_USDT_Perp	0.7192	0.0100	pay 0.0050% / 4h	2h 10m	$637K	$881K	10x
Short	Orderly PERP_VIRTUAL_USDC	0.7173	0.0089	get 0.0045% / 4h	2h 10m	$14K	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.260%Rate

Funding earned: −$2.26
Price spread: −0.260% → +0.031%: −$29.08
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$46.34
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 58 min ago; Orderly: 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 GRVT live order book, 58 min ago	2.70 bp	17.4 bp −$17	32.9 bp −$329	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 32 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 VIRTUALRUSDPERP	−0.0139%	1h	0.7176	−0.221%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0072%	1h	0.7185	−0.093%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0029%	1h	0.7176	−0.218%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7177	−0.201%	$4K	—	150x	as long as short
Phoenix VIRTUAL	+0.0011%	1h	0.7194	+0.031%	$11K	$46K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.039%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDCshort	+0.0089%	4h	0.7173	−0.260%	$14K	$1.5M	10x
Lighter VIRTUAL	+0.0096%	1h	0.7170	−0.299%	$326K	$415K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7179	−0.177%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7181	−0.152%	$97K	$296K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7188	−0.057%	$71K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7173	−0.265%	$16.4M	$41.7M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7174	−0.246%	$16.5M	$18.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7171	−0.288%	$2.9M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7174	−0.246%	$1.4M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7175	−0.232%	$17.5M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7177	−0.204%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7173	−0.260%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7169	−0.316%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7174	−0.246%	$242K	$170K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7186	−0.076%	$535K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7199	+0.101%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perplong	+0.0100%	4h	0.7192	long leg	$637K	$881K	10x
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7192	+0.004%	$41K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7182	−0.138%	$52K	$1.2M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7181	−0.149%	$1K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7177	−0.211%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7174	−0.250%	$54K	$275K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7173	−0.255%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7177	−0.208%	$30K	—	100x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7216	+0.338%	$189K	$101K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.1027%	1h	0.7188	−0.050%	$594K	$668K	50x	as long as short