Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against OKX−0.125%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$620.621% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.025%+$2 on $10k

Price spread, last 7 days+0.158%+$16 · spread now −0.125%, 7d avg +0.023%

Together, before fees+0.183%+$18 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: Gate is 0.149% cheaper against OKX than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX VIRTUAL-USDT-SWAP	0.7196	0.0100	pay 0.0050% / 4h	2h 11m	$2.9M	$10.0M	20x
Short	Gate VIRTUAL_USDT	0.7187	0.0100	get 0.0050% / 4h	2h 11m	$1.4M	$3.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.125%Rate

Funding earned: $0
Price spread: −0.125% → +0.023%: −$14.85
Slippage, 4 orders: −$37.14
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$76.99
Costs to cover: 0.621%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Gate: live order book, 2 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, 2 min ago	0.70 bp	11.8 bp −$12	42.2 bp −$422	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	4.87 bp	20.3 bp −$20	94.4 bp −$944	doesn't fit	doesn't fit

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	0.7187	−0.132%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0072%	1h	0.7183	−0.181%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7201	+0.069%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7187	−0.131%	$4K	—	150x	as long as short
Phoenix VIRTUAL	+0.0011%	1h	0.7194	−0.029%	$11K	$46K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.098%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7193	−0.042%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7184	−0.174%	$326K	$415K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7197	+0.007%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7189	−0.091%	$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	0.7190	−0.085%	$71K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7187	−0.125%	$16.4M	$41.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7193	−0.042%	$16.6M	$18.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAPlong	+0.0100%	4h	0.7196	long leg	$2.9M	$10.0M	20x
Gate VIRTUAL_USDTshort	+0.0100%	4h	0.7187	−0.125%	$1.4M	$3.3M	75x
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7186	−0.139%	$17.5M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7186	−0.139%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7186	−0.139%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7191	−0.069%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7200	+0.056%	$243K	$170K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7195	−0.012%	$535K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7199	+0.041%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7192	−0.060%	$637K	$881K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7192	−0.056%	$41K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7193	−0.038%	$52K	$1.2M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7203	+0.097%	$2K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7198	+0.024%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7183	−0.185%	$54K	$275K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7194	−0.030%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7188	−0.118%	$30K	—	100x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7216	+0.278%	$189K	$101K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.1024%	1h	0.7211	+0.210%	$596K	$668K	50x	as long as short