Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0333%/8h= +36.5% APRpaid last 24h +0.100%

Price spread now: BloFin against gTrade (Gains Network)−0.063%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on BloFin

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

Funding pays, the price is against you. BloFin is 0.063% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.063% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 15 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) VIRTUAL/USD	0.7190	L +0.0007% / S −0.0004%	pay 0.0001% / 1h	14m 59s	$13K	—	150x
Short	BloFin VIRTUAL-USDT	0.7185	0.0340	get 0.0170% / 4h	1h 14m	$807K	$822K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.063%Rate

Funding earned: $70
Price spread: −0.063% → 0.000%: −$6.34
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $41.66
Costs to cover: 0.220%
Break-even: 2.8 days

Slippage unknown: gTrade (Gains Network): no order-book sample; BloFin: live order book, 2 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 BloFin live order book, 2 min ago	1.39 bp	9.4 bp −$9	19.0 bp −$190	66.7 bp −$6,665	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
Lighter VIRTUAL	−0.0152%	1h	0.7189	−0.005%	$327K	$414K	5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7187	−0.035%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0128%	1h	0.7184	−0.077%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0045%	1h	0.7194	+0.059%	$11K	$40K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0028%	1h	0.7189	−0.008%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USDlong	L +0.0007% / S −0.0004%	1h	0.7190	long leg	$13K	—	150x
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.009%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0093%	4h	0.7187	−0.036%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7204	+0.197%	$8.8M	$3.8M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7196	+0.089%	$196K	$88K	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	0.7190	+0.006%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7192	+0.034%	$16.4M	$37.7M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7190	+0.006%	$15.6M	$15.8M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7195	+0.076%	$2.8M	$9.2M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7194	+0.062%	$1.5M	$2.9M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7191	+0.020%	$17.2M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7195	+0.076%	$4.3M	$4.1M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7197	+0.103%	$6.1M	$5.4M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7191	+0.020%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7197	+0.103%	$239K	$159K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7182	−0.111%	$525K	$878K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7182	−0.099%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7183	−0.098%	$636K	$918K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7187	−0.036%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7191	+0.024%	$29K	$882K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7187	−0.036%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7191	+0.020%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7191	+0.020%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7185	−0.062%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0298% / S −0.0228%	1h	0.7191	+0.018%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDTshort	+0.0340%	4h	0.7185	−0.063%	$807K	$822K	75x
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7192	+0.034%	$195K	$96K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0509%	1h	0.7208	+0.259%	$586K	$596K	50x	as long as short