VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0155%/8h= −16.9% APRnext payment −$0.19 per $10,000 · paid last 24h −0.039%

Price spread now: Hyperliquid against GMX+0.166%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Hyperliquid

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—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

The price spread pays, funding is against you. Hyperliquid is 0.166% dearer against GMX than usual: you sell high and buy low (spread +0.166% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 3.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX VIRTUAL/USD [WBTC.b-USDC]	0.7189	L +0.0313% / S −0.0258%	pay 0.0039% / 1h	22m 37s	$32K	—	100x
Short	Hyperliquid VIRTUAL	0.7201	0.0158	get 0.0020% / 1h	22m 37s	$8.9M	$3.8M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against GMX. 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 GMXbpFee HyperliquidbpOrdersPrice spread, now +0.166%Rate

Funding earned: −$32.45
Price spread: +0.166% → 0.000%: $16.62
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$36.83
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Hyperliquid: live order book, 10 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 GMX no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 10 min ago	0.77 bp	11.3 bp −$11	doesn't fit	doesn't fit	doesn't fit

GMX: 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
Kraken Futures PF_VIRTUALUSD	−0.0224%	1h	0.7190	+0.023%	$517K	$739K	50x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7180	−0.117%	$24	—	10x	as long as short
Lighter VIRTUAL	−0.0072%	1h	0.7190	+0.020%	$325K	$402K	5x	as long as short
Variational Omni VIRTUAL	−0.0062%	4h	0.7097	−1.275%	$532K	$753K	—	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7122	−0.929%	$11K	$36K	5x	as long as short
SoDEX VIRTUAL-USD	−0.0011%	1h	0.7187	−0.031%	$1K	$9K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0006%	1h	0.7185	−0.051%	$22K	—	150x	as long as short
Bybit VIRTUALUSDT	+0.0009%	4h	0.7193	+0.059%	$16.4M	$18.8M	50x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.998%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0073%	4h	0.7186	−0.038%	$15K	$1.9M	10x	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	0.7194	+0.080%	$93K	$303K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7196	+0.101%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7197	+0.109%	$16.1M	$41.7M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7198	+0.129%	$2.9M	$10.3M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7197	+0.115%	$1.5M	$3.2M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7194	+0.073%	$15.4M	$5.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7199	+0.143%	$3.3M	$4.5M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7197	+0.115%	$6.1M	$5.7M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7195	+0.087%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7193	+0.059%	$240K	$176K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7117	−0.993%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7121	−0.941%	$636K	$1.2M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7107	−1.137%	$40K	$234K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7179	−0.136%	$47K	$1.0M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7186	−0.038%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7195	+0.089%	$54K	$308K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7185	−0.046%	$18K	—	3x	as long as short
Hyperliquid VIRTUALshort	+0.0158%	1h	0.7201	+0.166%	$8.9M	$3.8M	5x
Deribit VIRTUAL_USDC-PERPETUAL	+0.0168%	1h	0.7188	−0.010%	$15K	$40K	10x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]long	L +0.0313% / S −0.0258%	1h	0.7189	long leg	$32K	—	100x
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7186	−0.038%	$784K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0512%	1h	0.7192	+0.045%	$200K	$101K	50x	as long as short
01 Exchange VIRTUALUSD	+0.6248%	1h	0.7308	+1.659%	$2K	$106	10x	as long as short