Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0094%/8h= −10.3% APRpaid last 24h −0.026%

Price spread now: gTrade (Gains Network) against Bybit−0.150%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 4 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 −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.150% cheaper against Bybit than usual: you would sell low and buy high (−$15 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	Bybit VIRTUALUSDT	0.7190	0.0100	pay 0.0050% / 4h	2h 00m	$16.7M	$18.5M	50x
Short	gTrade (Gains Network) VIRTUAL/USD	0.7179	L +0.0007% / S −0.0006%	get 0.0001% / 1h	0m 47s	$22K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Bybit. 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 BybitbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.150%Rate

Funding earned: −$19.84
Price spread: −0.150% → 0.000%: −$15.02
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$55.86
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 1 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 Bybit live order book, 1 min ago	0.70 bp	11.4 bp −$11	22.9 bp −$229	doesn't fit	doesn't fit
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 exchanges

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
Polymarket Perps VIRTUAL-USD	−0.0712%	1h	0.7181	−0.125%	$47K	$996K	5x	as long as short
Kraken Futures PF_VIRTUALUSD	−0.0239%	1h	0.7188	−0.028%	$562K	$750K	50x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0168%	1h	0.7177	−0.181%	$25K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7178	−0.163%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0132%	1h	0.7188	−0.033%	$11K	$35K	5x	as long as short
Lighter VIRTUAL	−0.0072%	1h	0.7179	−0.147%	$327K	$384K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USDshort	L +0.0007% / S −0.0006%	1h	0.7179	−0.150%	$22K	—	150x
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.015%	$46	$88K	5.5x	as long as short
Variational Omni VIRTUAL	+0.0061%	4h	0.7187	−0.044%	$682K	$887K	—	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0085%	4h	0.7176	−0.195%	$15K	$1.9M	10x	as long as short

Show all 33 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7185	−0.064%	$92K	$297K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7181	−0.130%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7184	−0.088%	$16.1M	$40.6M	75x	as long as short
Bybit VIRTUALUSDTlong	+0.0100%	4h	0.7190	long leg	$16.7M	$18.5M	50x
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7183	−0.097%	$2.8M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7179	−0.153%	$1.5M	$3.2M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7183	−0.097%	$15.0M	$5.4M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7182	−0.111%	$3.4M	$4.5M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7185	−0.070%	$6.1M	$5.4M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7182	−0.111%	—	$7.8M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7182	−0.111%	$246K	$178K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7191	+0.016%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7185	−0.066%	$638K	$1.4M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7190	0.000%	$40K	$235K	50x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7176	−0.195%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7177	−0.188%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7180	−0.144%	$54K	$312K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7179	−0.151%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0185%	1h	0.7195	+0.072%	$8.9M	$3.6M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0312% / S −0.0258%	1h	0.7178	−0.168%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7174	−0.223%	$779K	$975K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7200	+0.139%	$202K	$100K	50x	as long as short
01 Exchange VIRTUALUSD	+0.6288%	1h	0.7313	+1.711%	$2K	$27	10x	as long as short