VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0099%/8h= −10.8% APRnext payment −$0.12 per $10,000 · paid last 24h −0.047%

Price spread now: gTrade (Gains Network) against Hyperliquid−0.129%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on gTrade (Gains Network)

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 airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.129% cheaper against Hyperliquid than usual: you would sell low and buy high (−$13 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	Hyperliquid VIRTUAL	0.7253	0.0100	pay 0.0013% / 1h	27m 58s	$8.9M	$4.2M	5x
Short	gTrade (Gains Network) VIRTUAL/USD	0.7244	L +0.0007% / S −0.0001%	get 0.0000% / 1h	27m 58s	$4K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Hyperliquid. 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 HyperliquidbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.129%Rate

Funding earned: −$20.72
Price spread: −0.129% → 0.000%: −$12.92
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$52.63
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 4 min ago; gTrade (Gains Network): no order-book sample. 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 Hyperliquid live order book, 4 min ago	0.76 bp	11.1 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

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	0.7240	−0.177%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0088%	1h	0.7238	−0.210%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7246	−0.099%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USDshort	L +0.0007% / S −0.0001%	1h	0.7244	−0.129%	$4K	—	150x
Phoenix VIRTUAL	+0.0011%	1h	0.7234	−0.262%	$11K	$46K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.878%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7246	−0.099%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7238	−0.203%	$329K	$415K	5x	as long as short
Hyperliquid VIRTUALlong	+0.0100%	1h	0.7253	long leg	$8.9M	$4.2M	5x
Aster VIRTUALUSDT	+0.0100%	4h	0.7246	−0.094%	$100K	$296K	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	0.7238	−0.210%	$71K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7244	−0.125%	$16.6M	$41.4M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7246	−0.099%	$16.7M	$18.3M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7242	−0.154%	$2.9M	$10.0M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7245	−0.113%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7237	−0.223%	$17.7M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7245	−0.113%	$4.2M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7246	−0.099%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7244	−0.127%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7250	−0.044%	$245K	$173K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7214	−0.535%	$537K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7214	−0.543%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7199	−0.747%	$639K	$888K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7214	−0.540%	$41K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7245	−0.109%	$52K	$1.2M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7242	−0.154%	$2K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7242	−0.148%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7240	−0.180%	$56K	$275K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7245	−0.116%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0300% / S −0.0228%	1h	0.7244	−0.123%	$31K	—	100x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7240	−0.182%	$189K	$101K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.1018%	1h	0.7255	+0.029%	$598K	$666K	50x	as long as short