Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0348%/8hnext payment +$0.44 per $10,000 · paid last 24h +0.116%

Price spread now: GMX against 01 Exchange+0.041%7-day average — · you sell dearer than you buy

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

Long on 01 Exchange Short on GMX

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 for this trade now. Funding pays +$10 a day on $10k at the current rate, and GMX is 0.041% dearer against 01 Exchange than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange VIRTUALUSD	0.7015	−0.0120	get 0.0015% / 1h	6m 14s	$2K	$131	10x
Short	GMX VIRTUAL/USD [WBTC.b-USDC]	0.7018	L +0.0295% / S −0.0228%	get 0.0029% / 1h	6m 14s	$30K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against 01 Exchange. 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 01 ExchangebpFee GMXbpOrdersPrice spread, now +0.041%Rate

Funding earned: $73.12
Price spread: +0.041% → 0.000%: $4.06
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee GMX: 6 bp × 2 orders: −$12
Net: $58.18
Costs to cover: 0.190%
Break-even: 1.4 days

Slippage unknown: 01 Exchange: no order-book sample; GMX: 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 01 Exchange no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

01 Exchange and 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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7013	−0.023%	$23	—	10x	as long as short
Variational Omni VIRTUAL	−0.0122%	4h	0.7010	−0.072%	$508K	$867K	—	as long as short
01 Exchange VIRTUALUSDlong	−0.0120%	1h	0.7015	long leg	$2K	$131	10x
Injective VIRTUAL/USDC PERP	−0.0086%	1h	0.7011	−0.057%	$45	$64K	5.5x	as long as short
Phoenix VIRTUAL	−0.0080%	1h	0.7013	−0.031%	$11K	$45K	5x	as long as short
Lighter VIRTUAL	−0.0040%	1h	0.7010	−0.073%	$319K	$390K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0035%	1h	0.7017	+0.029%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7017	+0.036%	$12K	—	150x	as long as short
Bybit VIRTUALUSDT	+0.0023%	4h	0.7013	−0.029%	$15.2M	$15.2M	50x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0068%	4h	0.7016	+0.014%	$14K	$1.5M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VIRTUAL	+0.0100%	1h	0.7024	+0.123%	$8.6M	$3.6M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7017	+0.034%	$191K	$77K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7017	+0.025%	$72K	$42K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7014	−0.014%	$16.0M	$35.9M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7014	−0.014%	$2.7M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7014	−0.014%	$1.4M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7013	−0.029%	$16.3M	$3.9M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7015	0.000%	$3.0M	$4.0M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7018	+0.043%	$6.0M	$5.2M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7015	0.000%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7015	0.000%	$230K	$163K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7014	−0.010%	$18K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7013	−0.029%	$622K	$929K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7019	+0.057%	$40K	$241K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7019	+0.061%	$33K	$763K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7018	+0.043%	$1K	$1.2M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7015	−0.007%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7014	−0.015%	$55K	$243K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7017	+0.029%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]short	L +0.0295% / S −0.0228%	1h	0.7018	+0.041%	$30K	—	100x
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7009	−0.086%	$811K	$732K	75x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0389%	1h	0.7026	+0.151%	$512K	$494K	50x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7040	+0.356%	$191K	$106K	50x	as long as short