Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against OKX+0.084%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$500.497% of the position

Long on OKX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.051%+$5 on $10k

Price spread, last 7 days−0.084%−$8 · spread now +0.084%, 7d avg +0.018%

Together, before fees−0.033%−$3 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 0.066% dearer against OKX than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX VIRTUAL-USDT-SWAP	0.7152	0.0100	pay 0.0050% / 4h	43m 21s	$2.9M	$10.0M	20x
Short	Bitget VIRTUALUSDT	0.7158	0.0100	get 0.0050% / 4h	43m 21s	$6.0M	$5.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against OKX. 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 OKXbpFee BitgetbpOrdersPrice spread, now +0.084%Rate

Funding earned: $0
Price spread: +0.084% → +0.018%: $6.58
Slippage, 4 orders: −$27.69
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$43.11
Costs to cover: 0.497%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Bitget: live order book, 5 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 OKX live order book, 5 min ago	0.70 bp	14.2 bp −$14	37.9 bp −$379	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	2.80 bp	13.0 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
Kraken Futures PF_VIRTUALUSD	−0.0336%	1h	0.7162	+0.144%	$521K	$744K	50x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7155	+0.039%	$24	—	10x	as long as short
Variational Omni VIRTUAL	−0.0122%	4h	0.7151	−0.013%	$536K	$908K	—	as long as short
01 Exchange VIRTUALUSD	−0.0080%	1h	0.7156	+0.056%	$2K	$106	10x	as long as short
Phoenix VIRTUAL	−0.0067%	1h	0.7161	+0.123%	$11K	$36K	5x	as long as short
Bybit VIRTUALUSDT	−0.0042%	4h	0.7155	+0.042%	$16.3M	$18.8M	50x	as long as short
Lighter VIRTUAL	−0.0024%	1h	0.7155	+0.046%	$323K	$403K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7160	+0.114%	$14K	—	150x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	+0.0029%	1h	0.7162	+0.140%	$15K	$40K	10x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.489%	$46	$88K	5.5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_VIRTUAL_USDC	+0.0073%	4h	0.7152	0.000%	$16K	$1.7M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7161	+0.126%	$92K	$302K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7158	+0.089%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7158	+0.078%	$16.1M	$42.2M	75x	as long as short
OKX VIRTUAL-USDT-SWAPlong	+0.0100%	4h	0.7152	long leg	$2.9M	$10.0M	20x
Gate VIRTUAL_USDT	+0.0100%	4h	0.7159	+0.098%	$1.5M	$3.4M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7160	+0.112%	$15.7M	$5.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7159	+0.098%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDTshort	+0.0100%	4h	0.7158	+0.084%	$6.0M	$5.8M	25x
BingX VIRTUAL-USDT	+0.0100%	4h	0.7154	+0.028%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7159	+0.098%	$237K	$175K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7159	+0.091%	$19K	$262K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7155	+0.039%	$638K	$1.1M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7152	0.000%	$40K	$236K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7154	+0.034%	$47K	$1.0M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7163	+0.154%	$2K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7157	+0.077%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7158	+0.078%	$54K	$263K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7159	+0.099%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0307%	1h	0.7167	+0.213%	$8.8M	$3.9M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0313% / S −0.0258%	1h	0.7156	+0.055%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7154	+0.028%	$782K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0480%	1h	0.7170	+0.252%	$200K	$100K	50x	as long as short