Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0096%/8hpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against BingX+0.050%7-day average — · you sell dearer than you buy

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

Long on BingX Short on gTrade (Gains Network)

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—needs both histories

The price spread pays, funding is against you. gTrade (Gains Network) is 0.050% dearer against BingX than usual: you sell high and buy low (spread +0.050% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 42 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX VIRTUAL-USDT	0.7014	0.0100	pay 0.0050% / 4h	6m 11s	—	$8.2M	—
Short	gTrade (Gains Network) VIRTUAL/USD	0.7017	L +0.0007% / S −0.0004%	get 0.0000% / 1h	6m 11s	$12K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against BingX. 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 BingXbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.050%Rate

Funding earned: −$20.18
Price spread: +0.050% → 0.000%: $4.99
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$35.19
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 6 min ago; gTrade (Gains Network): no order-book sample. 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 BingX live order book, 6 min ago	0.71 bp	8.4 bp −$8	11.3 bp −$113	19.1 bp −$1,913	78.4 bp −$39.2K
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7013	−0.009%	$23	—	10x	as long as short
Variational Omni VIRTUAL	−0.0122%	4h	0.7010	−0.058%	$508K	$867K	—	as long as short
01 Exchange VIRTUALUSD	−0.0120%	1h	0.7015	+0.014%	$2K	$131	10x	as long as short
Injective VIRTUAL/USDC PERP	−0.0086%	1h	0.7011	−0.043%	$45	$64K	5.5x	as long as short
Phoenix VIRTUAL	−0.0080%	1h	0.7013	−0.017%	$11K	$45K	5x	as long as short
Lighter VIRTUAL	−0.0040%	1h	0.7012	−0.023%	$319K	$390K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0035%	1h	0.7017	+0.043%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USDshort	L +0.0007% / S −0.0004%	1h	0.7017	+0.050%	$12K	—	150x
Bybit VIRTUALUSDT	+0.0023%	4h	0.7014	0.000%	$15.2M	$15.2M	50x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0068%	4h	0.7016	+0.029%	$14K	$1.5M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VIRTUAL	+0.0100%	1h	0.7025	+0.160%	$8.6M	$3.6M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7018	+0.057%	$191K	$77K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7017	+0.039%	$72K	$42K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7015	+0.015%	$16.0M	$35.9M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7015	+0.014%	$2.7M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7017	+0.043%	$1.4M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7016	+0.029%	$16.3M	$3.9M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7015	+0.014%	$3.0M	$4.0M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7018	+0.057%	$6.0M	$5.2M	25x	as long as short
BingX VIRTUAL-USDTlong	+0.0100%	4h	0.7014	long leg	—	$8.2M	—
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7020	+0.086%	$231K	$163K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7014	+0.004%	$18K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7013	−0.014%	$622K	$929K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7019	+0.071%	$40K	$241K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7019	+0.076%	$33K	$763K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7018	+0.057%	$1K	$1.2M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7015	+0.007%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7014	0.000%	$55K	$243K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7017	+0.043%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0295% / S −0.0228%	1h	0.7018	+0.055%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7009	−0.071%	$811K	$732K	75x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0389%	1h	0.7026	+0.165%	$512K	$494K	50x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7040	+0.371%	$191K	$106K	50x	as long as short