Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.028%

Price spread now: OKX against gTrade (Gains Network)+0.120%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 OKX

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 OKX is 0.120% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$12 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	gTrade (Gains Network) VIRTUAL/USD	0.7024	L +0.0007% / S −0.0005%	pay 0.0001% / 1h	28m 13s	$13K	—	150x
Short	OKX VIRTUAL-USDT-SWAP	0.7032	0.0100	get 0.0050% / 4h	2h 28m	$2.8M	$9.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.120%Rate

Funding earned: $19.6
Price spread: +0.120% → 0.000%: $12.03
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $11.63
Costs to cover: 0.200%
Break-even: 2.8 days

Slippage unknown: gTrade (Gains Network): no order-book sample; OKX: live order book, 5 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 OKX live order book, 5 min ago	0.71 bp	14.8 bp −$15	45.6 bp −$456	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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0177%	1h	0.7024	+0.006%	$15K	$40K	10x	as long as short
01 Exchange VIRTUALUSD	−0.0144%	1h	0.7024	+0.006%	$2K	$106	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7024	+0.002%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7053	+0.418%	$11K	$36K	5x	as long as short
Lighter VIRTUAL	−0.0040%	1h	0.7022	−0.019%	$319K	$403K	5x	as long as short
Bybit VIRTUALUSDT	−0.0015%	4h	0.7026	+0.035%	$16.1M	$18.9M	50x	as long as short
gTrade (Gains Network) VIRTUAL/USDlong	L +0.0007% / S −0.0005%	1h	0.7024	long leg	$13K	—	150x
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	+1.331%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0075%	4h	0.7021	−0.036%	$14K	$1.4M	10x	as long as short
SoDEX VIRTUAL-USD	+0.0093%	1h	0.7024	−0.001%	$1K	$9K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VIRTUAL	+0.0100%	1h	0.7038	+0.213%	$8.6M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7031	+0.100%	$91K	$299K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7027	+0.050%	$69K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7029	+0.078%	$15.8M	$41.8M	75x	as long as short
OKX VIRTUAL-USDT-SWAPshort	+0.0100%	4h	0.7032	+0.120%	$2.8M	$9.8M	20x
Gate VIRTUAL_USDT	+0.0100%	4h	0.7027	+0.049%	$1.5M	$3.4M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7026	+0.035%	$15.1M	$4.9M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7027	+0.049%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7029	+0.078%	$6.0M	$5.9M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7029	+0.078%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7031	+0.106%	$235K	$207K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7036	+0.183%	$527K	$910K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7046	+0.318%	$19K	$262K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7047	+0.327%	$623K	$1.0M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7044	+0.291%	$40K	$237K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7029	+0.075%	$52K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7028	+0.063%	$2K	$1.4M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7020	−0.050%	$56K	$299K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7022	−0.027%	$18K	—	3x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0284%	1h	0.7030	+0.094%	$520K	$763K	50x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0297% / S −0.0228%	1h	0.7025	+0.014%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7044	+0.291%	$778K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0432%	1h	0.7162	+1.971%	$199K	$101K	50x	as long as short