VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0046%/8h= −5.0% APRnext payment −$0.06 per $10,000 · paid last 24h −0.012%

Price spread now: gTrade (Gains Network) against Lighter+0.389%7-day average — · you sell dearer than you buy

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

Long on Lighter 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 airdropLighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. gTrade (Gains Network) is 0.389% dearer against Lighter than usual: you sell high and buy low (spread +0.389% now, against zero (this spread has no 7-day history yet)): +$39 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 28 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter VIRTUAL	0.7321	0.0056	pay 0.0007% / 1h	55m 48s	$333K	$414K	5x
Short	gTrade (Gains Network) VIRTUAL/USD	0.7350	L +0.0007% / S −0.0010%	get 0.0001% / 1h	55m 48s	$9K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Lighter. 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 LighterbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.389%Rate

Funding earned: −$9.67
Price spread: +0.389% → 0.000%: $38.86
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: $19.19
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Lighter: live order book, 9 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 Lighter live order book, 9 min ago	4.93 bp	8.5 bp −$8	48.9 bp −$489	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 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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7342	+0.282%	$25	—	10x	as long as short
Phoenix VIRTUAL	−0.0066%	1h	0.7325	+0.049%	$12K	$40K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0056%	1h	0.7347	+0.351%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0022%	1h	0.7344	+0.310%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USDshort	L +0.0007% / S −0.0010%	1h	0.7350	+0.389%	$9K	—	150x
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.790%	$46	$88K	5.5x	as long as short
Lighter VIRTUALlong	+0.0056%	1h	0.7321	long leg	$333K	$414K	5x
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7340	+0.255%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7339	+0.238%	$200K	$104K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7324	+0.042%	$72K	$45K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VIRTUALUSDT	+0.0100%	4h	0.7322	+0.007%	$16.8M	$39.4M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7314	−0.100%	$16.3M	$16.9M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7313	−0.113%	$2.9M	$9.6M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7334	+0.173%	$1.5M	$2.9M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7319	−0.031%	$18.4M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7334	+0.173%	$4.4M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7322	+0.010%	$6.4M	$5.6M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7334	+0.173%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7355	+0.460%	$249K	$168K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7357	+0.481%	$547K	$892K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7319	−0.037%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7319	−0.031%	$650K	$915K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7321	−0.004%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7352	+0.421%	$49K	$1.0M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7340	+0.255%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7341	+0.276%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7340	+0.260%	$55K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7333	+0.164%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0223%	1h	0.7338	+0.234%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0300% / S −0.0228%	1h	0.7345	+0.328%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7325	+0.051%	$816K	$848K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7339	+0.242%	$199K	$94K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0736%	1h	0.7357	+0.487%	$612K	$596K	50x	as long as short