Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0095%/8h= −10.4% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against SunX−0.025%7-day average — · you buy dearer than you sell

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

Long on SunX 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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.025% cheaper against SunX than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX VIRTUAL-USDT	0.7161	0.0100	pay 0.0050% / 4h	21m 42s	$2K	$1.3M	20x
Short	gTrade (Gains Network) VIRTUAL/USD	0.7159	L +0.0007% / S −0.0005%	get 0.0001% / 1h	21m 42s	$14K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against SunX. 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 SunXbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.025%Rate

Funding earned: −$19.91
Price spread: −0.025% → 0.000%: −$2.5
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$40.41
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 3 min ago; 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 SunX live order book, 3 min ago	500.59 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7158	−0.038%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0096%	1h	0.7162	+0.014%	$2K	$131	10x	as long as short
Lighter VIRTUAL	−0.0088%	1h	0.7151	−0.145%	$325K	$415K	5x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7166	+0.063%	$11K	$37K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7160	−0.014%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USDshort	L +0.0007% / S −0.0005%	1h	0.7159	−0.025%	$14K	—	150x
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.614%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7159	−0.028%	$14K	$1.4M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7166	+0.064%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7157	−0.049%	$96K	$292K	20x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7159	−0.024%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7158	−0.048%	$16.2M	$40.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7156	−0.070%	$16.5M	$18.4M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7156	−0.070%	$2.8M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7156	−0.070%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7158	−0.042%	$17.4M	$4.5M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7158	−0.042%	$2.9M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7159	−0.028%	$6.1M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7159	−0.028%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7157	−0.056%	$239K	$209K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7148	−0.179%	$534K	$913K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7158	−0.040%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7154	−0.095%	$634K	$890K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7165	+0.056%	$41K	$239K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7164	+0.047%	$54K	$1.1M	5x	as long as short
SunX VIRTUAL-USDTlong	+0.0100%	4h	0.7161	long leg	$2K	$1.3M	20x
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7158	−0.035%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7155	−0.082%	$54K	$265K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7158	−0.040%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0316% / S −0.0265%	1h	0.7159	−0.031%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7158	−0.042%	$792K	$896K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0416%	1h	0.7184	+0.321%	$201K	$105K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0800%	1h	0.7169	+0.110%	$593K	$661K	50x	as long as short