Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against Gate−0.084%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$570.574% of the position

Long on Gate Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 7 days+0.054%+$5 · spread now −0.084%, 7d avg −0.039%

Together, before fees+0.055%+$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.045% cheaper against Gate than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate VIRTUAL_USDT	0.7165	0.0100	pay 0.0050% / 4h	2h 33m	$1.5M	$2.9M	75x
Short	Binance VIRTUALUSDT	0.7159	0.0100	get 0.0050% / 4h	2h 33m	$16.4M	$36.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Gate. 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 GatebpFee BinancebpOrdersPrice spread, now −0.084%Rate

Funding earned: $0
Price spread: −0.084% → −0.039%: −$4.5
Slippage, 4 orders: −$32.4
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Binance: 5 bp × 2 orders: −$10
Net: −$61.9
Costs to cover: 0.574%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; Binance: live order book, 9 min ago.

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 Gate live order book, 5 min ago	2.10 bp	17.4 bp −$17	72.3 bp −$723	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	0.70 bp	11.4 bp −$11	24.0 bp −$240	95.7 bp −$9,574	doesn't fit

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	−0.0308%	1h	0.7161	−0.056%	$15K	$40K	10x	as long as short
Injective VIRTUAL/USDC PERP	−0.0160%	1h	0.7117	−0.670%	$46	$88K	5.5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7159	−0.088%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7179	+0.202%	$11K	$45K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0104%	1h	0.7163	−0.028%	$2K	$131	10x	as long as short
Variational Omni VIRTUAL	+0.0005%	4h	0.7142	−0.318%	$521K	$874K	—	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7163	−0.025%	$12K	—	150x	as long as short
Lighter VIRTUAL	+0.0040%	1h	0.7158	−0.103%	$326K	$391K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0081%	4h	0.7161	−0.056%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7167	+0.024%	$8.8M	$3.6M	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	0.7169	+0.056%	$195K	$81K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7173	+0.111%	$74K	$42K	5x	as long as short
Binance VIRTUALUSDTshort	+0.0100%	4h	0.7159	−0.084%	$16.4M	$36.9M	75x
Bybit VIRTUALUSDT	+0.0100%	4h	0.7157	−0.112%	$15.4M	$15.4M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7159	−0.084%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDTlong	+0.0100%	4h	0.7165	long leg	$1.5M	$2.9M	75x
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7159	−0.084%	$17.2M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7166	+0.014%	$3.1M	$3.9M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7163	−0.028%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7163	−0.028%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7164	−0.014%	$235K	$158K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7154	−0.159%	$19K	$256K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7153	−0.161%	$633K	$974K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7151	−0.195%	$40K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7167	+0.035%	$33K	$783K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7162	−0.042%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7157	−0.105%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7156	−0.120%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7160	−0.068%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0297% / S −0.0228%	1h	0.7164	−0.017%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7160	−0.070%	$813K	$802K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7180	+0.209%	$196K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0525%	1h	0.7170	+0.072%	$536K	$541K	50x	as long as short