Settings8H · net · $10k
Funding arb · Price arb /

VIRTUAL

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SwapBacktest
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
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 daysno 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter VIRTUAL0.73210.0056pay 0.0007% / 1h55m 48s$333K$414K5x
ShortgTrade (Gains Network) VIRTUAL/USD0.7350L +0.0007% / S −0.0010%get 0.0001% / 1h55m 48s$9K150x

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

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
LegHalf-spread$10k$100k$1M$5M
Buy Lighter live order book, 9 min ago4.93 bp8.5 bp −$848.9 bp −$489doesn't fitdoesn'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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Reya VIRTUALRUSDPERP−0.0139%1h0.7342+0.282%$2510xas long as short
Phoenix VIRTUAL−0.0066%1h0.7325+0.049%$12K$40K5xas long as short
01 Exchange VIRTUALUSD−0.0056%1h0.7347+0.351%$2K$13110xas long as short
Deribit VIRTUAL_USDC-PERPETUAL−0.0022%1h0.7344+0.310%$15K$40K10xas long as short
gTrade (Gains Network) VIRTUAL/USDshortL +0.0007% / S −0.0010%1h0.7350+0.389%$9K150x
Injective VIRTUAL/USDC PERP+0.0033%1h0.7117−2.790%$46$88K5.5xas long as short
Lighter VIRTUALlong+0.0056%1h0.7321long leg$333K$414K5x
Orderly PERP_VIRTUAL_USDC+0.0089%4h0.7340+0.255%$14K$1.5M10xas long as short
Aster VIRTUALUSDT+0.0100%4h0.7339+0.238%$200K$104K20xas long as short
Pacifica VIRTUAL+0.0100%1h0.7324+0.042%$72K$45K5xas long as short
Show all 33 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Binance VIRTUALUSDT+0.0100%4h0.7322+0.007%$16.8M$39.4M75xas long as short
Bybit VIRTUALUSDT+0.0100%4h0.7314−0.100%$16.3M$16.9M50xas long as short
OKX VIRTUAL-USDT-SWAP+0.0100%4h0.7313−0.113%$2.9M$9.6M20xas long as short
Gate VIRTUAL_USDT+0.0100%4h0.7334+0.173%$1.5M$2.9M75xas long as short
MEXC VIRTUAL_USDT+0.0100%4h0.7319−0.031%$18.4M$4.1M100xas long as short
KuCoin VIRTUALUSDTM+0.0100%4h0.7334+0.173%$4.4M$4.2M50xas long as short
Bitget VIRTUALUSDT+0.0100%4h0.7322+0.010%$6.4M$5.6M25xas long as short
BingX VIRTUAL-USDT+0.0100%4h0.7334+0.173%$8.2Mas long as short
Backpack VIRTUAL_USDC_PERP+0.0100%1h0.7355+0.460%$249K$168K10xas long as short
Variational Omni VIRTUAL+0.0100%4h0.7357+0.481%$547K$892Kas long as short
edgeX VIRTUALUSDC+0.0100%4h0.7319−0.037%$19K$257K10xas long as short
GRVT VIRTUAL_USDT_Perp+0.0100%4h0.7319−0.031%$650K$915K10xas long as short
ApeX Omni VIRTUALUSDT+0.0100%1h0.7321−0.004%$40K$245K50xas long as short
Polymarket Perps VIRTUAL-USD+0.0100%1h0.7352+0.421%$49K$1.0M5xas long as short
SunX VIRTUAL-USDT+0.0100%4h0.7340+0.255%$2K$1.3M20xas long as short
SoDEX VIRTUAL-USD+0.0100%1h0.7341+0.276%$1K$9K5xas long as short
Extended VIRTUAL-USD+0.0104%1h0.7340+0.260%$55K$246K10xas long as short
Aevo VIRTUAL-PERP+0.0104%1h0.7333+0.164%$18K3xas long as short
Hyperliquid VIRTUAL+0.0223%1h0.7338+0.234%$9.1M$4.0M5xas long as short
GMX VIRTUAL/USD [WBTC.b-USDC]L +0.0300% / S −0.0228%1h0.7345+0.328%$31K100xas long as short
BloFin VIRTUAL-USDT+0.0340%4h0.7325+0.051%$816K$848K75xas long as short
Coinbase International VIRTUAL-PERP-INTX+0.0448%1h0.7339+0.242%$199K$94K50xas long as short
Kraken Futures PF_VIRTUALUSD+0.0736%1h0.7357+0.487%$612K$596K50xas long as short