Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Gate against Extended+0.014%7-day average +0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$690.693% of the position

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.041%−$4 · spread now +0.014%, 7d avg +0.066%

Together, before fees−0.042%+ Points / potential airdropExtended: Active · farm board−$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.052% cheaper against Extended than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.066%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended VIRTUAL-USD	0.7174	0.0104	pay 0.0013% / 1h	1m 57s	$54K	$263K	10x
Short	Gate VIRTUAL_USDT	0.7175	0.0100	get 0.0050% / 4h	1m 57s	$1.5M	$3.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Extended. 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 ExtendedbpFee GatebpOrdersPrice spread, now +0.014%Rate

Funding earned: −$0.84
Price spread: +0.014% → +0.066%: −$5.18
Slippage, 4 orders: −$49.32
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$75.34
Costs to cover: 0.693%
Break-even: never at this rate

Slippage from Extended: live order book, 55 min ago; Gate: live order book, 1 min ago.

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 Extended live order book, 55 min ago	2.66 bp	14.9 bp −$15	156.4 bp −$1,564	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	1.39 bp	18.8 bp −$19	96.1 bp −$961	doesn't fit	doesn't fit

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	0.7173	−0.019%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0064%	1h	0.7165	−0.125%	$2K	$131	10x	as long as short
Lighter VIRTUAL	−0.0040%	1h	0.7172	−0.028%	$326K	$415K	5x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7155	−0.261%	$11K	$37K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7174	+0.002%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.794%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0093%	4h	0.7175	+0.014%	$14K	$1.4M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7181	+0.095%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7175	+0.017%	$96K	$292K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7165	−0.127%	$71K	$43K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VIRTUALUSDT	+0.0100%	4h	0.7175	+0.014%	$16.3M	$40.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7172	−0.028%	$16.5M	$18.4M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7175	+0.014%	$2.8M	$9.9M	20x	as long as short
Gate VIRTUAL_USDTshort	+0.0100%	4h	0.7175	+0.014%	$1.5M	$3.3M	75x
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7174	0.000%	$17.5M	$4.5M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7175	+0.014%	$3.0M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7175	+0.014%	$6.1M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7174	0.000%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7179	+0.070%	$240K	$208K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7141	−0.463%	$534K	$913K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7139	−0.491%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7153	−0.293%	$639K	$913K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7143	−0.432%	$40K	$238K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7176	+0.025%	$54K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7174	0.000%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7176	+0.028%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USDlong	+0.0104%	1h	0.7174	long leg	$54K	$263K	10x
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7174	+0.006%	$18K	—	3x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	+0.0308%	1h	0.7178	+0.056%	$15K	$40K	10x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0316% / S −0.0265%	1h	0.7175	+0.010%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7166	−0.111%	$800K	$898K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0416%	1h	0.7184	+0.140%	$201K	$105K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0799%	1h	0.7183	+0.124%	$592K	$664K	50x	as long as short