Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.028%

Price spread now: Bitget against gTrade (Gains Network)+0.211%45s7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on Bitget

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 +$3 a day on $10k at the current rate, and Bitget is 0.211% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$21 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) VIRTUAL/USD	0.7264	L +0.0007% / S −0.0004%	pay 0.0001% / 1h	50m 37s	$13K	—	150x
Short	Bitget VIRTUALUSDT	0.7279	0.0100	get 0.0050% / 4h	50m 37s	$6.2M	$5.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BitgetbpOrdersPrice spread, now +0.211%Rate

Funding earned: $19.6
Price spread: +0.211% → 0.000%: $21.08
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: $18.68
Costs to cover: 0.220%
Break-even: 0.3 days

Slippage unknown: gTrade (Gains Network): 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Bitget live order book, 3 min ago	2.06 bp	12.8 bp −$13	29.4 bp −$294	doesn't fit	doesn't fit

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	0.7261	−0.040%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0072%	1h	0.7262	−0.023%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0066%	1h	0.7269	+0.072%	$11K	$40K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0025%	1h	0.7262	−0.023%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USDlong	L +0.0007% / S −0.0004%	1h	0.7264	long leg	$13K	—	150x
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.019%	$46	$88K	5.5x	as long as short
Lighter VIRTUAL	+0.0072%	1h	0.7270	+0.084%	$331K	$413K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0092%	4h	0.7263	−0.009%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7272	+0.118%	$191K	$95K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7276	+0.173%	$73K	$44K	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	0.7273	+0.128%	$16.6M	$38.0M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7272	+0.114%	$15.9M	$16.1M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7274	+0.142%	$2.9M	$9.4M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7267	+0.046%	$1.5M	$2.9M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7269	+0.073%	$17.8M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7275	+0.156%	$4.4M	$4.1M	50x	as long as short
Bitget VIRTUALUSDTshort	+0.0100%	4h	0.7279	+0.211%	$6.2M	$5.4M	25x
BingX VIRTUAL-USDT	+0.0100%	4h	0.7275	+0.156%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7271	+0.101%	$241K	$159K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7246	−0.250%	$529K	$876K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7252	−0.162%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7253	−0.147%	$642K	$918K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7266	+0.032%	$40K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7268	+0.054%	$32K	$943K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7260	−0.051%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7260	−0.044%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7269	+0.068%	$54K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7260	−0.046%	$18K	$505	3x	as long as short
Hyperliquid VIRTUAL	+0.0226%	1h	0.7278	+0.193%	$9.0M	$3.8M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7264	+0.005%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7257	−0.092%	$808K	$844K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7278	+0.197%	$198K	$97K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0866%	1h	0.7274	+0.143%	$592K	$595K	50x	as long as short