VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0466%/8h= −51.0% APRnext payment −$0.58 per $10,000 · paid last 24h −0.072%

Price spread now: Lighter against GMX−0.162%7-day average — · you buy dearer than you sell

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

Long on GMX 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

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Lighter is 0.162% cheaper against GMX than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX VIRTUAL/USD [WBTC.b-USDC]	0.7110	L +0.0298% / S −0.0228%	pay 0.0037% / 1h	42m 15s	$30K	—	100x
Short	Lighter VIRTUAL	0.7098	−0.0168	pay 0.0021% / 1h	42m 15s	$323K	$415K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against GMX. 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 GMXbpFee LighterbpOrdersPrice spread, now −0.162%Rate

Funding earned: −$97.86
Price spread: −0.162% → 0.000%: −$16.16
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$126.02
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Lighter: live order book, 7 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 GMX no order-book sample	—	—	—	—	—
Sell Lighter live order book, 7 min ago	5.07 bp	7.1 bp −$7	62.7 bp −$627	doesn't fit	doesn't fit

GMX: 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	−0.0312%	1h	0.7108	−0.028%	$15K	$40K	10x	as long as short
Lighter VIRTUALshort	−0.0168%	1h	0.7098	−0.162%	$323K	$415K	5x
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7105	−0.073%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0128%	1h	0.7101	−0.126%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7123	+0.184%	$11K	$37K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7111	+0.008%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	+0.099%	$46	$88K	5.5x	as long as short
SoDEX VIRTUAL-USD	+0.0060%	1h	0.7103	−0.098%	$1K	$9K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0087%	4h	0.7107	−0.042%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7114	+0.054%	$8.7M	$4.1M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7109	−0.010%	$96K	$292K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7111	+0.014%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7105	−0.070%	$16.1M	$40.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7103	−0.098%	$16.3M	$18.4M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7107	−0.042%	$2.8M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7110	0.000%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7104	−0.084%	$17.3M	$4.4M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7109	−0.014%	$2.9M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7108	−0.028%	$6.1M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7111	+0.014%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7107	−0.042%	$235K	$209K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7098	−0.166%	$530K	$913K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7096	−0.198%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7105	−0.074%	$630K	$868K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7099	−0.155%	$40K	$239K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7109	−0.014%	$54K	$1.0M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7105	−0.070%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7102	−0.110%	$55K	$267K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7105	−0.064%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]long	L +0.0298% / S −0.0228%	1h	0.7110	long leg	$30K	—	100x
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7102	−0.112%	$805K	$888K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0416%	1h	0.7179	+0.971%	$207K	$98K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0806%	1h	0.7114	+0.056%	$590K	$665K	50x	as long as short