Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0688%/8h= −75.4% APRpaid last 24h −0.069%

Price spread now: Deribit against Bitget−0.056%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 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

Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and Deribit is 0.056% cheaper against Bitget than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget VIRTUALUSDT	0.7154	0.0100	pay 0.0050% / 4h	3h 09m	$6.1M	$5.9M	25x
Short	Deribit VIRTUAL_USDC-PERPETUAL	0.7150	−0.0588	pay 0.0074% / 1h	9m 39s	$15K	$40K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bitget. 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 BitgetbpFee DeribitbpOrdersPrice spread, now −0.056%Rate

Funding earned: −$144.58
Price spread: −0.056% → 0.000%: −$5.59
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$169.17
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 4 min ago; Deribit: 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 Bitget live order book, 4 min ago	2.79 bp	13.1 bp −$13	31.7 bp −$317	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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-PERPETUALshort	−0.0588%	1h	0.7150	−0.056%	$15K	$40K	10x
Lighter VIRTUAL	−0.0224%	1h	0.7151	−0.048%	$325K	$407K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0160%	1h	0.7149	−0.070%	$2K	$106	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7152	−0.025%	$24	—	10x	as long as short
SoDEX VIRTUAL-USD	−0.0045%	1h	0.7149	−0.067%	$1K	$9K	5x	as long as short
Phoenix VIRTUAL	−0.0022%	1h	0.7175	+0.296%	$11K	$37K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7154	+0.003%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.517%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0083%	4h	0.7153	−0.014%	$14K	$1.4M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7162	+0.108%	$8.8M	$4.1M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7158	+0.059%	$94K	$299K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7155	+0.019%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7152	−0.030%	$16.2M	$41.1M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7149	−0.070%	$16.5M	$18.6M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7151	−0.042%	$2.8M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7156	+0.028%	$1.5M	$3.4M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7154	0.000%	$16.1M	$4.8M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7157	+0.042%	$3.0M	$4.3M	50x	as long as short
Bitget VIRTUALUSDTlong	+0.0100%	4h	0.7154	long leg	$6.1M	$5.9M	25x
BingX VIRTUAL-USDT	+0.0100%	4h	0.7150	−0.056%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7152	−0.028%	$237K	$214K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7155	+0.016%	$536K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7173	+0.271%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7173	+0.266%	$637K	$974K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7181	+0.377%	$40K	$238K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7159	+0.067%	$53K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7160	+0.084%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7148	−0.086%	$57K	$259K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7148	−0.087%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7154	+0.004%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7157	+0.042%	$796K	$949K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7200	+0.643%	$201K	$104K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0489%	1h	0.7158	+0.055%	$586K	$670K	50x	as long as short