Funding arb · Price arb /

VIRTUAL

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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 −0.002%

Price spread now: GRVT against Variational Omni+0.419%7-day average −0.012% · you sell dearer than you buy

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

Long on Variational Omni Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.014%+$1 on $10k

Price spread, last 3 days (all we have)−0.423%−$42 · spread now +0.419%, 7d avg −0.012%

Together, before fees−0.409%+ Points / potential airdropVariational Omni: Active · GRVT: Active · farm board−$41 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: GRVT is 0.430% dearer against Variational Omni than usual: you sell high and buy low, +$43 on $10k if it goes back to its 7-day average of −0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni VIRTUAL	0.7306	0.0100	pay 0.0050% / 4h	3h 49m	$548K	$893K	—
Short	GRVT VIRTUAL_USDT_Perp	0.7337	0.0100	get 0.0050% / 4h	3h 49m	$651K	$927K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Variational Omni. 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 Variational OmnibpFee GRVTbpOrdersPrice spread, now +0.419%Rate

Funding earned: $0
Price spread: +0.419% → −0.012%: $43.05
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $34.05
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 25 min ago; GRVT: live order book, 23 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, 25 min ago	3.43 bp	doesn't fit	19.9 bp −$199	doesn't fit	doesn't fit
Sell GRVT live order book, 23 min ago	2.06 bp	12.3 bp −$12	53.8 bp −$538	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	−0.0435%	1h	0.7290	−0.224%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7316	+0.130%	$25	—	10x	as long as short
Phoenix VIRTUAL	−0.0109%	1h	0.7308	+0.028%	$11K	$40K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0088%	1h	0.7313	+0.091%	$2K	$131	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7321	+0.195%	$9K	—	150x	as long as short
Lighter VIRTUAL	+0.0032%	1h	0.7315	+0.111%	$332K	$414K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.592%	$46	$88K	5.5x	as long as short
ApeX Omni VIRTUALUSDT	+0.0081%	1h	0.7302	−0.060%	$40K	$243K	50x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0088%	4h	0.7287	−0.265%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7315	+0.122%	$200K	$105K	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	0.7322	+0.214%	$72K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7318	+0.159%	$16.9M	$39.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7312	+0.077%	$16.4M	$17.0M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7311	+0.063%	$2.9M	$9.6M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7317	+0.146%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7315	+0.118%	$18.5M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7320	+0.187%	$4.4M	$4.1M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7323	+0.228%	$6.4M	$5.6M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7318	+0.159%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7314	+0.104%	$248K	$168K	10x	as long as short
Variational Omni VIRTUALlong	+0.0100%	4h	0.7306	long leg	$548K	$893K	—
edgeX VIRTUALUSDC	+0.0100%	4h	0.7334	+0.384%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perpshort	+0.0100%	4h	0.7337	+0.419%	$651K	$927K	10x
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7321	+0.195%	$49K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7295	−0.156%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7289	−0.231%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7315	+0.118%	$58K	$249K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7292	−0.202%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0137%	1h	0.7323	+0.234%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0300% / S −0.0228%	1h	0.7319	+0.179%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7310	+0.050%	$821K	$847K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7366	+0.816%	$200K	$94K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0741%	1h	0.7301	−0.079%	$606K	$623K	50x	as long as short