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 +0.018%

Price spread now: Gate against Variational Omni−0.681%7-day average +0.047% · you buy dearer than you sell

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

Long on Variational Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.049%+$5 on $10k

Price spread, last 4 days (all we have)+0.399%+$40 · spread now −0.681%, 7d avg +0.047%

Together, before fees+0.449%+ Points / potential airdropVariational Omni: Active · farm board+$45 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 0.728% cheaper against Variational Omni than usual: you would sell low and buy high, −$73 on $10k if it goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni VIRTUAL	0.7206	0.0100	pay 0.0050% / 4h	1h 47m	$536K	$908K	—
Short	Gate VIRTUAL_USDT	0.7157	0.0100	get 0.0050% / 4h	1h 47m	$1.4M	$3.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee GatebpOrdersPrice spread, now −0.681%Rate

Funding earned: $0
Price spread: −0.681% → +0.047%: −$72.81
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$87.81
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 17 min ago; Gate: live order book, 1 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 Variational Omni RFQ quote, 17 min ago	4.86 bp	doesn't fit	20.1 bp −$201	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	3.49 bp	20.4 bp −$20	79.2 bp −$792	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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0169%	1h	0.7157	−0.681%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7158	−0.667%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0064%	1h	0.7157	−0.681%	$2K	$131	10x	as long as short
Lighter VIRTUAL	0.0000%	1h	0.7150	−0.780%	$325K	$413K	5x	as long as short
Phoenix VIRTUAL	0.0000%	1h	0.7188	−0.247%	$11K	$37K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7161	−0.624%	$4K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.236%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7155	−0.709%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7163	−0.599%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7159	−0.660%	$97K	$291K	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	0.7167	−0.543%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7157	−0.677%	$16.4M	$40.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7158	−0.667%	$16.5M	$18.2M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7156	−0.695%	$2.8M	$9.7M	20x	as long as short
Gate VIRTUAL_USDTshort	+0.0100%	4h	0.7157	−0.681%	$1.4M	$3.2M	75x
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7155	−0.709%	$17.2M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7154	−0.723%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7157	−0.681%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7157	−0.681%	—	$8.0M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7154	−0.723%	$238K	$160K	10x	as long as short
Variational Omni VIRTUALlong	+0.0100%	4h	0.7206	long leg	$536K	$908K	—
edgeX VIRTUALUSDC	+0.0100%	4h	0.7173	−0.459%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7200	−0.081%	$638K	$858K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7179	−0.376%	$40K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7166	−0.558%	$51K	$999K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7165	−0.570%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7153	−0.737%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7154	−0.717%	$54K	$277K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7153	−0.732%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7160	−0.642%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7155	−0.709%	—	$841K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7174	−0.445%	$187K	$83K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0913%	1h	0.7165	−0.568%	$595K	$688K	50x	as long as short