Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.025%

Price spread now: Gate against Injective+1.279%7-day average — · you sell dearer than you buy

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

Long on Injective Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−1.153%−$115 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Gate is 1.279% dearer against Injective than usual: you sell high and buy low: +$128 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −1.153%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective VIRTUAL/USDC PERP	0.7117	0.0033	pay 0.0004% / 1h	24m 35s	$46	$88K	5.5x
Short	Gate VIRTUAL_USDT	0.7208	0.0100	get 0.0050% / 4h	1h 24m	$1.5M	$2.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Injective. 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 InjectivebpFee GatebpOrdersPrice spread, now +1.279%Rate

Funding earned: $14
Price spread: +1.279% → 0.000%: $127.86
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $126.84
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Gate: live order book, 3 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 Injective no order-book sample	—	—	—	—	—
Sell Gate live order book, 3 min ago	3.48 bp	21.3 bp −$21	111.3 bp −$1,113	doesn't fit	doesn't fit

Injective: 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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7191	+1.034%	$24	—	10x	as long as short
Lighter VIRTUAL	−0.0120%	1h	0.7198	+1.137%	$327K	$414K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0120%	1h	0.7198	+1.138%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0045%	1h	0.7181	+0.902%	$11K	$40K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7198	+1.138%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7196	+1.107%	$13K	—	150x	as long as short
Injective VIRTUAL/USDC PERPlong	+0.0033%	1h	0.7117	long leg	$46	$88K	5.5x
Orderly PERP_VIRTUAL_USDC	+0.0092%	4h	0.7194	+1.082%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7212	+1.335%	$8.8M	$3.8M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7202	+1.191%	$196K	$84K	20x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7203	+1.207%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7200	+1.166%	$16.4M	$37.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7198	+1.138%	$15.6M	$15.8M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7201	+1.180%	$2.8M	$9.2M	20x	as long as short
Gate VIRTUAL_USDTshort	+0.0100%	4h	0.7208	+1.279%	$1.5M	$2.9M	75x
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7197	+1.124%	$17.3M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7202	+1.194%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7204	+1.222%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7199	+1.152%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7208	+1.279%	$239K	$159K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7170	+0.739%	$525K	$877K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7146	+0.413%	$19K	$256K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7162	+0.630%	$634K	$918K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7149	+0.450%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7197	+1.128%	$31K	$869K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7188	+0.998%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7196	+1.103%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7198	+1.133%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7195	+1.095%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0298% / S −0.0228%	1h	0.7195	+1.101%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7197	+1.124%	$810K	$794K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7187	+0.984%	$196K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0509%	1h	0.7209	+1.289%	$585K	$596K	50x	as long as short