Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Gate against BingX+0.014%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$510.507% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.061%−$6 on $10k

Price spread, last 7 days+0.008%+$1 · spread now +0.014%, 7d avg +0.036%

Together, before fees−0.053%−$5 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 0.022% cheaper against BingX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX VIRTUAL-USDT	0.7254	0.0100	pay 0.0050% / 4h	55m 12s	—	$8.1M	—
Short	Gate VIRTUAL_USDT	0.7255	0.0100	get 0.0050% / 4h	55m 12s	$1.5M	$2.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.014%Rate

Funding earned: $0
Price spread: +0.014% → +0.036%: −$2.21
Slippage, 4 orders: −$25.68
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$52.88
Costs to cover: 0.507%
Break-even: never at this rate

Slippage from BingX: live order book, 8 min ago; Gate: live order book, 3 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 BingX live order book, 8 min ago	0.69 bp	8.7 bp −$9	11.6 bp −$116	16.3 bp −$1,626	59.6 bp −$29.8K
Sell Gate live order book, 3 min ago	4.14 bp	19.3 bp −$19	104.6 bp −$1,046	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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7253	−0.020%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0056%	1h	0.7252	−0.028%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0045%	1h	0.7251	−0.036%	$11K	$40K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7255	+0.014%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7255	+0.010%	$13K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.889%	$46	$88K	5.5x	as long as short
Lighter VIRTUAL	+0.0064%	1h	0.7248	−0.087%	$330K	$413K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0092%	4h	0.7255	+0.014%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7256	+0.031%	$191K	$91K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7253	−0.019%	$73K	$44K	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	0.7254	0.000%	$16.5M	$37.8M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7254	0.000%	$15.9M	$16.0M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7254	0.000%	$2.8M	$9.3M	20x	as long as short
Gate VIRTUAL_USDTshort	+0.0100%	4h	0.7255	+0.014%	$1.5M	$2.9M	75x
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7255	+0.014%	$17.7M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7256	+0.028%	$4.4M	$4.1M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7259	+0.069%	$6.2M	$5.4M	25x	as long as short
BingX VIRTUAL-USDTlong	+0.0100%	4h	0.7254	long leg	—	$8.1M	—
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7258	+0.055%	$241K	$159K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7246	−0.117%	$529K	$876K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7239	−0.212%	$19K	$256K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7245	−0.124%	$642K	$918K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7241	−0.179%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7261	+0.094%	$32K	$923K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7253	−0.014%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7253	−0.014%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7252	−0.022%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7255	+0.014%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7255	+0.018%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7252	−0.028%	$809K	$819K	75x	as long as short
Hyperliquid VIRTUAL	+0.0410%	1h	0.7265	+0.149%	$8.9M	$3.9M	5x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7263	+0.124%	$197K	$96K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0867%	1h	0.7267	+0.174%	$592K	$595K	50x	as long as short