Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0239%/8h= +26.2% APRpaid last 24h +0.072%

Price spread now: Gate against Reya+0.046%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Gate

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—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Gate is 0.046% dearer against Reya than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya VIRTUALRUSDPERP	0.7282	−0.0139	get 0.0017% / 1h	46m 17s	$24	—	10x
Short	Gate VIRTUAL_USDT	0.7285	0.0100	get 0.0050% / 4h	3h 46m	$1.5M	$3.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Reya. 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 ReyabpFee GatebpOrdersPrice spread, now +0.046%Rate

Funding earned: $50.22
Price spread: +0.046% → 0.000%: $4.6
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $33.82
Costs to cover: 0.210%
Break-even: 2.3 days

Slippage unknown: Reya: no order-book sample; Gate: live order book, 2 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 Reya no order-book sample	—	—	—	—	—
Sell Gate live order book, 2 min ago	4.79 bp	22.0 bp −$22	103.2 bp −$1,032	doesn't fit	doesn't fit

Reya: 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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0436%	1h	0.7288	+0.087%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERPlong	−0.0139%	1h	0.7282	long leg	$24	—	10x
Phoenix VIRTUAL	−0.0109%	1h	0.7308	+0.367%	$11K	$40K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0088%	1h	0.7302	+0.280%	$2K	$131	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7291	+0.130%	$9K	—	150x	as long as short
Lighter VIRTUAL	+0.0024%	1h	0.7286	+0.063%	$331K	$416K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.261%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0088%	4h	0.7291	+0.128%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7293	+0.161%	$199K	$141K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7306	+0.338%	$72K	$45K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VIRTUALUSDT	+0.0100%	4h	0.7291	+0.128%	$16.8M	$39.8M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7294	+0.170%	$16.3M	$17.0M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7292	+0.142%	$2.9M	$9.7M	20x	as long as short
Gate VIRTUAL_USDTshort	+0.0100%	4h	0.7285	+0.046%	$1.5M	$3.0M	75x
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7290	+0.115%	$18.4M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7292	+0.142%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7296	+0.197%	$6.3M	$5.7M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7291	+0.128%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7294	+0.170%	$247K	$168K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7302	+0.278%	$546K	$888K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7314	+0.451%	$19K	$259K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7322	+0.559%	$650K	$927K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7324	+0.582%	$40K	$243K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7304	+0.308%	$50K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7288	+0.087%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7289	+0.108%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7289	+0.094%	$58K	$249K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7290	+0.120%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0120%	1h	0.7311	+0.404%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7288	+0.087%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7317	+0.485%	$825K	$850K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7366	+1.158%	$200K	$94K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0741%	1h	0.7305	+0.326%	$603K	$635K	50x	as long as short