Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0336%/8h= −36.8% APRpaid last 24h −0.101%

Price spread now: gTrade (Gains Network) against BloFin+0.115%7-day average — · you sell dearer than you buy

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

Long on BloFin 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

The price spread pays, funding is against you. gTrade (Gains Network) is 0.115% dearer against BloFin than usual: you sell high and buy low (spread +0.115% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin VIRTUAL-USDT	0.7150	0.0340	pay 0.0170% / 4h	2h 03m	$818K	$790K	75x
Short	gTrade (Gains Network) VIRTUAL/USD	0.7158	L +0.0007% / S −0.0004%	get 0.0000% / 1h	3m 06s	$12K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against BloFin. 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 BloFinbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.115%Rate

Funding earned: −$70.58
Price spread: +0.115% → 0.000%: $11.48
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$81.09
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 19 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 BloFin live order book, 19 min ago	2.78 bp	9.5 bp −$9	14.1 bp −$141	41.8 bp −$4,175	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
Injective VIRTUAL/USDC PERP	−0.0160%	1h	0.7117	−0.462%	$46	$88K	5.5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7156	+0.083%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7162	+0.172%	$11K	$45K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0096%	1h	0.7155	+0.070%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7160	+0.140%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USDshort	L +0.0007% / S −0.0004%	1h	0.7158	+0.115%	$12K	—	150x
Lighter VIRTUAL	+0.0072%	1h	0.7153	+0.042%	$325K	$391K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0088%	4h	0.7157	+0.098%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7167	+0.236%	$8.7M	$3.7M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7156	+0.081%	$194K	$83K	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	0.7153	+0.045%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7158	+0.116%	$16.4M	$37.3M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7152	+0.028%	$15.4M	$15.6M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7156	+0.084%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7154	+0.056%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7155	+0.070%	$17.2M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7153	+0.042%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7159	+0.126%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7155	+0.070%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7162	+0.168%	$235K	$159K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7159	+0.128%	$525K	$878K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7157	+0.096%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7145	−0.067%	$633K	$965K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7159	+0.126%	$40K	$246K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7160	+0.140%	$27K	$815K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7158	+0.112%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7157	+0.091%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7156	+0.082%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7156	+0.085%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0297% / S −0.0228%	1h	0.7160	+0.141%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDTlong	+0.0340%	4h	0.7150	long leg	$818K	$790K	75x
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7203	+0.741%	$196K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0525%	1h	0.7170	+0.276%	$536K	$544K	50x	as long as short