Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0261%/8h= +28.6% APRpaid last 24h +0.075%

Price spread now: Bitget against Deribit+0.027%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 5 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 +$8 a day on $10k at the current rate, and Bitget is 0.027% dearer against Deribit than usual: you sell high and buy low: +$3 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	Deribit VIRTUAL_USDC-PERPETUAL	0.7291	−0.0161	get 0.0020% / 1h	5m 09s	$15K	$40K	10x
Short	Bitget VIRTUALUSDT	0.7293	0.0100	get 0.0050% / 4h	5m 09s	$6.3M	$5.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Deribit. 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 DeribitbpFee BitgetbpOrdersPrice spread, now +0.027%Rate

Funding earned: $54.87
Price spread: +0.027% → 0.000%: $2.74
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: $38.62
Costs to cover: 0.190%
Break-even: 2.1 days

Slippage unknown: Deribit: no order-book sample; Bitget: live order book, 3 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 Deribit no order-book sample	—	—	—	—	—
Sell Bitget live order book, 3 min ago	3.43 bp	13.2 bp −$13	33.0 bp −$330	doesn't fit	doesn't fit

Deribit: 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
01 Exchange VIRTUALUSD	−0.0168%	1h	0.7282	−0.123%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUALlong	−0.0161%	1h	0.7291	long leg	$15K	$40K	10x
Lighter VIRTUAL	−0.0160%	1h	0.7286	−0.069%	$331K	$416K	5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7284	−0.096%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0066%	1h	0.7285	−0.080%	$11K	$40K	5x	as long as short
SoDEX VIRTUAL-USD	+0.0002%	1h	0.7290	−0.007%	$1K	$9K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7290	−0.017%	$9K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.387%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7286	−0.069%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7294	+0.039%	$199K	$104K	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	0.7288	−0.047%	$72K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7293	+0.027%	$16.6M	$38.9M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7289	−0.027%	$16.3M	$16.7M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7288	−0.041%	$2.9M	$9.5M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7293	+0.027%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7290	−0.014%	$18.3M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7292	+0.014%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDTshort	+0.0100%	4h	0.7293	+0.027%	$6.3M	$5.5M	25x
BingX VIRTUAL-USDT	+0.0100%	4h	0.7290	−0.014%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7294	+0.041%	$247K	$168K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7273	−0.253%	$541K	$890K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7277	−0.198%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7295	+0.055%	$648K	$915K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7277	−0.192%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7291	+0.003%	$37K	$993K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7279	−0.165%	$2K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7291	+0.001%	$54K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7292	+0.013%	$18K	$505	3x	as long as short
Hyperliquid VIRTUAL	+0.0121%	1h	0.7304	+0.173%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7290	−0.016%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7289	−0.027%	$815K	$850K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7311	+0.274%	$199K	$94K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0862%	1h	0.7307	+0.220%	$598K	$583K	50x	as long as short