Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0128%/8h= +14.0% APRpaid last 24h +0.033%

Price spread now: GMX against OKX+0.161%7-day average — · you sell dearer than you buy

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

Long on OKX Short on GMX

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—needs both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and GMX is 0.161% dearer against OKX than usual: you sell high and buy low: +$16 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX VIRTUAL-USDT-SWAP	0.7234	0.0100	pay 0.0050% / 4h	2h 22m	$2.9M	$10.0M	20x
Short	GMX VIRTUAL/USD [WBTC.b-USDC]	0.7246	L +0.0300% / S −0.0228%	get 0.0029% / 1h	22m 17s	$31K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against OKX. 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 OKXbpFee GMXbpOrdersPrice spread, now +0.161%Rate

Funding earned: $26.92
Price spread: +0.161% → 0.000%: $16.08
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $21
Costs to cover: 0.220%
Break-even: 1.5 days

Slippage unknown: OKX: live order book, 6 min ago; GMX: 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 OKX live order book, 6 min ago	0.69 bp	14.4 bp −$14	41.4 bp −$414	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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 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	0.7249	+0.212%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0080%	1h	0.7246	+0.166%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0026%	1h	0.7243	+0.124%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7246	+0.161%	$4K	—	150x	as long as short
Phoenix VIRTUAL	+0.0011%	1h	0.7260	+0.354%	$11K	$46K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.617%	$46	$88K	5.5x	as long as short
Lighter VIRTUAL	+0.0080%	1h	0.7238	+0.058%	$329K	$415K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7242	+0.111%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7260	+0.361%	$8.9M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7250	+0.226%	$98K	$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	0.7252	+0.250%	$71K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7241	+0.102%	$16.5M	$41.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7237	+0.041%	$16.7M	$18.4M	50x	as long as short
OKX VIRTUAL-USDT-SWAPlong	+0.0100%	4h	0.7234	long leg	$2.9M	$10.0M	20x
Gate VIRTUAL_USDT	+0.0100%	4h	0.7251	+0.235%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7249	+0.207%	$17.7M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7251	+0.235%	$3.0M	$4.5M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7247	+0.180%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7244	+0.138%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7236	+0.028%	$244K	$171K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7243	+0.129%	$539K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7240	+0.078%	$19K	$259K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7244	+0.144%	$643K	$888K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7256	+0.304%	$41K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7257	+0.312%	$52K	$1.2M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7244	+0.138%	$2K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7239	+0.066%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7240	+0.081%	$57K	$275K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7242	+0.113%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]short	L +0.0300% / S −0.0228%	1h	0.7246	+0.161%	$31K	—	100x
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7261	+0.373%	$190K	$101K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.1018%	1h	0.7251	+0.232%	$599K	$668K	50x	as long as short