VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0047%/8h= −5.1% APRnext payment −$0.06 per $10,000 · paid last 24h +0.008%

Price spread now: Lighter against gTrade (Gains Network)+0.051%7-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 Lighter

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—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Lighter is 0.051% dearer against gTrade (Gains Network) than usual: you sell high and buy low (spread +0.051% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) VIRTUAL/USD	0.7189	L +0.0007% / S −0.0001%	pay 0.0001% / 1h	58m 22s	$4K	—	150x
Short	Lighter VIRTUAL	0.7192	−0.0040	pay 0.0005% / 1h	58m 22s	$327K	$413K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.051%Rate

Funding earned: −$9.8
Price spread: +0.051% → 0.000%: $5.09
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$14.71
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: gTrade (Gains Network): no order-book sample; Lighter: live order book, 61 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 Lighter live order book, 61 min ago	5.58 bp	7.1 bp −$7	67.9 bp −$679	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 32 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	0.7186	−0.041%	$24	—	10x	as long as short
Lighter VIRTUALshort	−0.0040%	1h	0.7192	+0.051%	$327K	$413K	5x
Deribit VIRTUAL_USDC-PERPETUAL	−0.0028%	1h	0.7196	+0.100%	$15K	$40K	10x	as long as short
01 Exchange VIRTUALUSD	−0.0024%	1h	0.7205	+0.225%	$2K	$131	10x	as long as short
gTrade (Gains Network) VIRTUAL/USDlong	L +0.0007% / S −0.0001%	1h	0.7189	long leg	$4K	—	150x
Phoenix VIRTUAL	+0.0011%	1h	0.7205	+0.226%	$11K	$33K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.999%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7187	−0.026%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7195	+0.087%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7199	+0.139%	$98K	$291K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7199	+0.141%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7188	−0.012%	$16.5M	$40.7M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7186	−0.040%	$16.5M	$18.1M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7186	−0.040%	$2.8M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7189	+0.002%	$1.4M	$3.2M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7184	−0.067%	$17.3M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7188	−0.012%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7191	+0.030%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7189	+0.002%	—	$8.0M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7198	+0.127%	$243K	$159K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7200	+0.159%	$536K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7201	+0.169%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7203	+0.198%	$638K	$870K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7202	+0.183%	$41K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7200	+0.158%	$52K	$999K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7197	+0.114%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7196	+0.093%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7192	+0.048%	$54K	$275K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7195	+0.089%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7188	−0.010%	$30K	—	100x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7209	+0.280%	$188K	$83K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0908%	1h	0.7209	+0.281%	$596K	$670K	50x	as long as short