Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.028%

Price spread now: Binance against gTrade (Gains Network)−0.052%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Binance

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

Funding pays, the price is against you. Binance is 0.052% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.052% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 45 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) VIRTUAL/USD	0.7194	L +0.0007% / S −0.0001%	pay 0.0001% / 1h	59m 59s	$4K	—	150x
Short	Binance VIRTUALUSDT	0.7190	0.0100	get 0.0050% / 4h	1h 59m	$16.4M	$40.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BinancebpOrdersPrice spread, now −0.052%Rate

Funding earned: $19.6
Price spread: −0.052% → 0.000%: −$5.24
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$5.64
Costs to cover: 0.200%
Break-even: 9.0 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Binance: live order book, 12 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Binance live order book, 12 min ago	0.70 bp	11.7 bp −$12	22.0 bp −$220	92.4 bp −$9,235	doesn't fit

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 32 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	−0.0167%	1h	0.7191	−0.039%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7191	−0.041%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0056%	1h	0.7196	+0.031%	$2K	$131	10x	as long as short
gTrade (Gains Network) VIRTUAL/USDlong	L +0.0007% / S −0.0001%	1h	0.7194	long leg	$4K	—	150x
Phoenix VIRTUAL	+0.0011%	1h	0.7193	−0.013%	$11K	$46K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.067%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7192	−0.025%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7186	−0.115%	$326K	$415K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7196	+0.025%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7197	+0.045%	$98K	$291K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7204	+0.135%	$71K	$45K	5x	as long as short
Binance VIRTUALUSDTshort	+0.0100%	4h	0.7190	−0.052%	$16.4M	$40.7M	75x
Bybit VIRTUALUSDT	+0.0100%	4h	0.7188	−0.080%	$16.5M	$18.1M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7188	−0.080%	$2.8M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7193	−0.011%	$1.4M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7190	−0.052%	$17.4M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7194	+0.003%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7193	−0.011%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7190	−0.052%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7190	−0.052%	$242K	$159K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7200	+0.090%	$536K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7212	+0.260%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7203	+0.129%	$638K	$870K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7217	+0.323%	$41K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7202	+0.117%	$52K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7196	+0.031%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7191	−0.041%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7188	−0.087%	$54K	$275K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7190	−0.055%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7192	−0.030%	$30K	—	100x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7209	+0.212%	$188K	$83K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.1025%	1h	0.7203	+0.123%	$595K	$670K	50x	as long as short