Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.005%

Price spread now: GRVT against Injective+1.050%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 GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−1.151%−$115 on $10k

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

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and GRVT is 1.050% dearer against Injective than usual: you sell high and buy low: +$105 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 −1.151%, 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	10m 34s	$46	$88K	5.5x
Short	GRVT VIRTUAL_USDT_Perp	0.7192	0.0100	get 0.0050% / 4h	2h 10m	$637K	$881K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +1.050%Rate

Funding earned: $14
Price spread: +1.050% → 0.000%: $104.96
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $109.94
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; GRVT: live order book, 57 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 GRVT live order book, 57 min ago	2.70 bp	26.1 bp −$26	82.3 bp −$823	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 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	+0.826%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0072%	1h	0.7185	+0.955%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7195	+1.096%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7187	+0.977%	$4K	—	150x	as long as short
Phoenix VIRTUAL	+0.0011%	1h	0.7194	+1.081%	$11K	$46K	5x	as long as short
Injective VIRTUAL/USDC PERPlong	+0.0033%	1h	0.7117	long leg	$46	$88K	5.5x
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7193	+1.068%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7179	+0.871%	$326K	$415K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7185	+0.953%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7192	+1.057%	$98K	$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	+0.992%	$71K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7180	+0.890%	$16.4M	$41.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7177	+0.843%	$16.5M	$18.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7177	+0.843%	$2.9M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7185	+0.955%	$1.4M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7184	+0.941%	$17.5M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7192	+1.054%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7181	+0.899%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7184	+0.941%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7197	+1.124%	$243K	$170K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7186	+0.973%	$535K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7199	+1.152%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perpshort	+0.0100%	4h	0.7192	+1.050%	$637K	$881K	10x
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7192	+1.054%	$41K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7182	+0.910%	$52K	$1.2M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7186	+0.970%	$1K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7197	+1.117%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7179	+0.874%	$54K	$275K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7194	+1.079%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7188	+0.991%	$30K	—	100x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7216	+1.391%	$189K	$101K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.1024%	1h	0.7207	+1.261%	$595K	$668K	50x	as long as short