Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0094%/8h= −10.3% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against MEXC−0.004%7-day average — · you buy dearer than you sell

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

Long on MEXC Short on gTrade (Gains Network)

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—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC VIRTUAL_USDT	0.7152	0.0100	pay 0.0050% / 4h	1m 28s	$15.6M	$5.3M	100x
Short	gTrade (Gains Network) VIRTUAL/USD	0.7152	L +0.0007% / S −0.0006%	get 0.0001% / 1h	1m 28s	$22K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against MEXC. 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 MEXCbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.004%Rate

Funding earned: −$19.84
Price spread: −0.004% → 0.000%: −$0.41
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$30.25
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 2 min ago; gTrade (Gains Network): 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 MEXC live order book, 2 min ago	0.70 bp	3.5 bp −$3	8.3 bp −$83	85.8 bp −$8,585	263.6 bp −$131.8K
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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
Kraken Futures PF_VIRTUALUSD	−0.0336%	1h	0.7154	+0.028%	$518K	$740K	50x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7153	+0.011%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0067%	1h	0.7153	+0.008%	$11K	$36K	5x	as long as short
Variational Omni VIRTUAL	−0.0057%	4h	0.7139	−0.181%	$535K	$837K	—	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7148	−0.056%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USDshort	L +0.0007% / S −0.0006%	1h	0.7152	−0.004%	$22K	—	150x
Lighter VIRTUAL	+0.0032%	1h	0.7146	−0.091%	$322K	$403K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.489%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0073%	4h	0.7149	−0.042%	$16K	$1.8M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7152	−0.003%	$92K	$302K	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	0.7153	+0.011%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7151	−0.014%	$16.1M	$41.8M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7149	−0.042%	$16.3M	$18.8M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7157	+0.070%	$2.9M	$10.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7149	−0.042%	$1.5M	$3.4M	75x	as long as short
MEXC VIRTUAL_USDTlong	+0.0100%	4h	0.7152	long leg	$15.6M	$5.3M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7153	+0.014%	$3.3M	$4.5M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7151	−0.014%	$6.0M	$5.7M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7148	−0.056%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7153	+0.014%	$237K	$175K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7145	−0.096%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7153	+0.018%	$641K	$1.2M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7147	−0.070%	$40K	$235K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7150	−0.022%	$47K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7145	−0.098%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7150	−0.021%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7147	−0.076%	$55K	$308K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7147	−0.069%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0313% / S −0.0258%	1h	0.7152	+0.002%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7146	−0.084%	$785K	$1.0M	75x	as long as short
Hyperliquid VIRTUAL	+0.0345%	1h	0.7164	+0.168%	$8.8M	$3.8M	5x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0480%	1h	0.7173	+0.294%	$200K	$100K	50x	as long as short
01 Exchange VIRTUALUSD	+0.1384%	1h	0.7287	+1.888%	$2K	$106	10x	as long as short