Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Extended against Gate−0.094%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$690.685% of the position

Long on Gate Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)+0.053%+$5 · spread now −0.094%, 7d avg −0.069%

Together, before fees+0.062%+ Points / potential airdropExtended: Active · farm board+$6 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: Extended is 0.025% cheaper against Gate than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate VIRTUAL_USDT	0.7313	0.0100	pay 0.0050% / 4h	3m 53s	$1.5M	$3.0M	75x
Short	Extended VIRTUAL-USD	0.7306	0.0104	get 0.0013% / 1h	3m 53s	$54K	$246K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Gate. 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 GatebpFee ExtendedbpOrdersPrice spread, now −0.094%Rate

Funding earned: $0.84
Price spread: −0.094% → −0.069%: −$2.48
Slippage, 4 orders: −$48.51
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$70.15
Costs to cover: 0.685%
Break-even: 591.6 days

Slippage from Gate: live order book, 4 min ago; Extended: live order book, 8 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 Gate live order book, 4 min ago	4.81 bp	19.5 bp −$19	78.6 bp −$786	doesn't fit	doesn't fit
Sell Extended live order book, 8 min ago	2.75 bp	15.6 bp −$16	152.0 bp −$1,520	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
01 Exchange VIRTUALUSD	−0.0168%	1h	0.7308	−0.068%	$2K	$131	10x	as long as short
Lighter VIRTUAL	−0.0160%	1h	0.7308	−0.066%	$332K	$416K	5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7310	−0.041%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0066%	1h	0.7285	−0.380%	$11K	$40K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7315	+0.027%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7316	+0.037%	$9K	—	150x	as long as short
SoDEX VIRTUAL-USD	+0.0011%	1h	0.7312	−0.012%	$1K	$9K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.680%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7314	+0.014%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7314	+0.020%	$200K	$104K	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	0.7302	−0.149%	$72K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7306	−0.095%	$16.6M	$38.9M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7306	−0.096%	$16.3M	$16.8M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7304	−0.123%	$2.9M	$9.6M	20x	as long as short
Gate VIRTUAL_USDTlong	+0.0100%	4h	0.7313	long leg	$1.5M	$3.0M	75x
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7308	−0.068%	$18.3M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7313	0.000%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7312	−0.014%	$6.3M	$5.5M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7309	−0.055%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7319	+0.082%	$248K	$168K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7273	−0.554%	$541K	$890K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7277	−0.499%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7295	−0.246%	$648K	$915K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7277	−0.492%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7317	+0.057%	$38K	$993K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7314	+0.014%	$2K	$1.3M	20x	as long as short
Extended VIRTUAL-USDshort	+0.0104%	1h	0.7306	−0.094%	$54K	$246K	10x
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7316	+0.036%	$18K	$505	3x	as long as short
Hyperliquid VIRTUAL	+0.0124%	1h	0.7327	+0.186%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0300% / S −0.0228%	1h	0.7317	+0.051%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7289	−0.328%	$815K	$850K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7311	−0.027%	$199K	$94K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0860%	1h	0.7328	+0.204%	$602K	$585K	50x	as long as short