Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.028%

Price spread now: BingX against gTrade (Gains Network)−0.007%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 BingX

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) VIRTUAL/USD	0.7148	L +0.0007% / S −0.0006%	pay 0.0001% / 1h	38m 02s	$22K	—	150x
Short	BingX VIRTUAL-USDT	0.7148	0.0100	get 0.0050% / 4h	3h 38m	—	$7.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.007%Rate

Funding earned: $19.6
Price spread: −0.007% → 0.000%: −$0.69
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$1.08
Costs to cover: 0.200%
Break-even: 7.4 days

Slippage unknown: gTrade (Gains Network): no order-book sample; BingX: live order book, 15 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 BingX live order book, 15 min ago	2.10 bp	9.5 bp −$10	12.9 bp −$129	22.0 bp −$2,201	85.1 bp −$42.6K

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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0310%	1h	0.7144	−0.063%	$15K	$40K	10x	as long as short
Kraken Futures PF_VIRTUALUSD	−0.0225%	1h	0.7147	−0.020%	$515K	$739K	50x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7145	−0.054%	$24	—	10x	as long as short
Lighter VIRTUAL	−0.0104%	1h	0.7140	−0.113%	$322K	$401K	5x	as long as short
Variational Omni VIRTUAL	−0.0062%	4h	0.7137	−0.156%	$535K	$756K	—	as long as short
Bybit VIRTUALUSDT	−0.0043%	4h	0.7147	−0.021%	$16.3M	$18.7M	50x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7146	−0.033%	$11K	$36K	5x	as long as short
SoDEX VIRTUAL-USD	−0.0007%	1h	0.7144	−0.070%	$1K	$9K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USDlong	L +0.0007% / S −0.0006%	1h	0.7148	long leg	$22K	—	150x
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.441%	$46	$88K	5.5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_VIRTUAL_USDC	+0.0073%	4h	0.7143	−0.077%	$15K	$1.8M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7150	+0.025%	$92K	$302K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7144	−0.063%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7148	−0.007%	$16.0M	$41.8M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7151	+0.035%	$2.9M	$10.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7148	−0.007%	$1.5M	$3.2M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7145	−0.049%	$15.7M	$5.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7149	+0.007%	$3.3M	$4.5M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7151	+0.035%	$6.0M	$5.7M	25x	as long as short
BingX VIRTUAL-USDTshort	+0.0100%	4h	0.7148	−0.007%	—	$7.9M	—
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7152	+0.049%	$237K	$175K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7139	−0.131%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7148	−0.005%	$641K	$1.2M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7146	−0.035%	$40K	$234K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7148	0.000%	$47K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7144	−0.063%	$2K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7148	−0.008%	$55K	$307K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7141	−0.099%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0172%	1h	0.7160	+0.158%	$8.8M	$3.8M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0312% / S −0.0258%	1h	0.7149	+0.004%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7143	−0.077%	$780K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0512%	1h	0.7168	+0.273%	$200K	$101K	50x	as long as short
01 Exchange VIRTUALUSD	+0.6264%	1h	0.7281	+1.854%	$2K	$106	10x	as long as short