Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.025%

Price spread now: Bybit against gTrade (Gains Network)+0.167%7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on Bybit

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

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bybit is 0.167% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$17 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) VIRTUAL/USD	0.7112	L +0.0007% / S −0.0005%	pay 0.0001% / 1h	40m 54s	$14K	—	150x
Short	Bybit VIRTUALUSDT	0.7124	0.0100	get 0.0050% / 4h	40m 54s	$16.4M	$18.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.167%Rate

Funding earned: $19.6
Price spread: +0.167% → 0.000%: $16.66
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $15.26
Costs to cover: 0.210%
Break-even: 1.5 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Bybit: live order book, 3 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 Bybit live order book, 3 min ago	1.41 bp	12.7 bp −$13	22.8 bp −$228	131.9 bp −$13.2K	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 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	−0.0172%	1h	0.7112	−0.002%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7105	−0.104%	$24	—	10x	as long as short
Lighter VIRTUAL	−0.0136%	1h	0.7106	−0.082%	$323K	$415K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0128%	1h	0.7106	−0.086%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7109	−0.046%	$11K	$37K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USDlong	L +0.0007% / S −0.0005%	1h	0.7112	long leg	$14K	—	150x
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	+0.068%	$46	$88K	5.5x	as long as short
SoDEX VIRTUAL-USD	+0.0072%	1h	0.7109	−0.037%	$1K	$9K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0087%	4h	0.7111	−0.016%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7136	+0.340%	$8.7M	$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	0.7116	+0.052%	$96K	$292K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7111	−0.018%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7124	+0.171%	$16.1M	$40.6M	75x	as long as short
Bybit VIRTUALUSDTshort	+0.0100%	4h	0.7124	+0.167%	$16.4M	$18.4M	50x
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7128	+0.223%	$2.8M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7120	+0.110%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7122	+0.138%	$17.4M	$4.4M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7119	+0.096%	$2.9M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7123	+0.153%	$6.1M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7121	+0.124%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7116	+0.054%	$236K	$209K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7104	−0.119%	$531K	$913K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7113	+0.014%	$19K	$259K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7105	−0.105%	$630K	$868K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7099	−0.185%	$40K	$239K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7111	−0.020%	$54K	$1.0M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7109	−0.044%	$2K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7125	+0.183%	$55K	$267K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7109	−0.049%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0298% / S −0.0228%	1h	0.7110	−0.029%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7114	+0.026%	$800K	$890K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0416%	1h	0.7179	+0.940%	$207K	$98K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0806%	1h	0.7121	+0.131%	$590K	$665K	50x	as long as short