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: OKX against Gate−0.069%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$650.650% of the position

Long on Gate Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 7 days+0.045%+$5 · spread now −0.069%, 7d avg −0.024%

Together, before fees+0.026%+$3 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: OKX is 0.046% 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 −0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate VIRTUAL_USDT	0.7195	0.0100	pay 0.0050% / 4h	2h 20m	$1.5M	$2.9M	75x
Short	OKX VIRTUAL-USDT-SWAP	0.7190	0.0100	get 0.0050% / 4h	2h 20m	$2.8M	$9.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.069%Rate

Funding earned: $0
Price spread: −0.069% → −0.024%: −$4.58
Slippage, 4 orders: −$40.01
Fee Gate: 7.5 bp × 2 orders: −$15
Fee OKX: 5 bp × 2 orders: −$10
Net: −$69.59
Costs to cover: 0.650%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; OKX: live order book, 2 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, 2 min ago	3.48 bp	17.6 bp −$18	88.0 bp −$880	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.70 bp	12.0 bp −$12	35.9 bp −$359	doesn't fit	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	−0.0167%	1h	0.7194	−0.014%	$15K	$40K	10x	as long as short
Injective VIRTUAL/USDC PERP	−0.0160%	1h	0.7117	−1.084%	$46	$88K	5.5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7190	−0.071%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7187	−0.115%	$11K	$45K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0096%	1h	0.7199	+0.056%	$2K	$131	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7194	−0.011%	$13K	—	150x	as long as short
Variational Omni VIRTUAL	+0.0037%	4h	0.7192	−0.045%	$527K	$878K	—	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0082%	4h	0.7194	−0.014%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7189	−0.088%	$327K	$391K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7202	+0.092%	$8.8M	$3.7M	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	0.7197	+0.023%	$195K	$82K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7202	+0.091%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7195	−0.001%	$16.5M	$37.1M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7192	−0.042%	$15.6M	$15.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAPshort	+0.0100%	4h	0.7190	−0.069%	$2.8M	$9.1M	20x
Gate VIRTUAL_USDTlong	+0.0100%	4h	0.7195	long leg	$1.5M	$2.9M	75x
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7194	−0.014%	$17.2M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7197	+0.028%	$3.1M	$3.9M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7197	+0.028%	$6.2M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7194	−0.014%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7198	+0.042%	$236K	$159K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7182	−0.181%	$19K	$256K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7182	−0.181%	$636K	$974K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7183	−0.167%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7203	+0.106%	$38K	$798K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7195	0.000%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7193	−0.028%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7191	−0.054%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7193	−0.022%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0298% / S −0.0228%	1h	0.7195	+0.004%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7193	−0.028%	$817K	$804K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7203	+0.111%	$196K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0523%	1h	0.7204	+0.131%	$538K	$543K	50x	as long as short