VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0116%/8h= +12.7% APRnext payment +$0.14 per $10,000 · paid last 24h +0.037%

Price spread now: gTrade (Gains Network) against Phoenix−0.042%63s7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on gTrade (Gains Network)

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

Funding pays, the price is against you. gTrade (Gains Network) is 0.042% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.042% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 29 hours of funding at the current rate (+$3 a day). The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix VIRTUAL	0.7176	−0.0112	get 0.0014% / 1h	7m 58s	$11K	$45K	5x
Short	gTrade (Gains Network) VIRTUAL/USD	0.7173	L +0.0007% / S −0.0004%	get 0.0000% / 1h	7m 58s	$12K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Phoenix. 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 PhoenixbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.042%Rate

Funding earned: $24.36
Price spread: −0.042% → 0.000%: −$4.17
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: $3.19
Costs to cover: 0.170%
Break-even: 6.1 days

Slippage unknown: Phoenix: no order-book sample; gTrade (Gains Network): no order-book sample. 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 Phoenix no order-book sample	—	—	—	—	—
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

Phoenix and 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
Injective VIRTUAL/USDC PERP	−0.0160%	1h	0.7117	−0.825%	$46	$88K	5.5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7170	−0.090%	$24	—	10x	as long as short
Phoenix VIRTUALlong	−0.0112%	1h	0.7176	long leg	$11K	$45K	5x
01 Exchange VIRTUALUSD	−0.0088%	1h	0.7171	−0.072%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0029%	1h	0.7174	−0.031%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USDshort	L +0.0007% / S −0.0004%	1h	0.7173	−0.042%	$12K	—	150x
Orderly PERP_VIRTUAL_USDC	+0.0084%	4h	0.7173	−0.045%	$14K	$1.5M	10x	as long as short
Variational Omni VIRTUAL	+0.0094%	4h	0.7166	−0.137%	$526K	$878K	—	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7167	−0.127%	$326K	$391K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7178	+0.028%	$8.7M	$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	0.7175	−0.015%	$195K	$82K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7173	−0.046%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7169	−0.100%	$16.4M	$37.3M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7168	−0.114%	$15.5M	$15.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7170	−0.086%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7175	−0.017%	$1.5M	$2.9M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7167	−0.128%	$17.3M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7176	−0.003%	$4.4M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7177	+0.011%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7169	−0.100%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7174	−0.031%	$236K	$159K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7171	−0.066%	$19K	$256K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7182	+0.081%	$636K	$965K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7170	−0.086%	$40K	$246K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7175	−0.020%	$27K	$815K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7172	−0.059%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7170	−0.079%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7170	−0.082%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7172	−0.054%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0297% / S −0.0228%	1h	0.7173	−0.039%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7170	−0.086%	$816K	$795K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7203	+0.373%	$196K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0524%	1h	0.7183	+0.092%	$537K	$544K	50x	as long as short