Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: MEXC against ApeX Omni−0.070%81s7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$350.349% of the position

Long on ApeX Omni Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 3 days (all we have)−0.214%−$21 · spread now −0.070%, 7d avg −0.042%

Together, before fees−0.218%−$22 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: MEXC is 0.028% cheaper against ApeX Omni than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.042%. The two prices were read 81 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni VIRTUALUSDT	0.7108	0.0100	pay 0.0013% / 1h	46m 11s	$40K	$244K	50x
Short	MEXC VIRTUAL_USDT	0.7103	0.0100	get 0.0050% / 4h	2h 46m	$17.0M	$4.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against ApeX Omni. 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 ApeX OmnibpFee MEXCbpOrdersPrice spread, now −0.070%Rate

Funding earned: $0
Price spread: −0.070% → −0.042%: −$2.85
Slippage, 4 orders: −$24.87
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$37.71
Costs to cover: 0.349%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 40 min ago; MEXC: live order book, 2 min ago.

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 ApeX Omni live order book, 40 min ago	7.02 bp	14.8 bp −$15	103.4 bp −$1,034	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	1.41 bp	2.0 bp −$2	8.4 bp −$84	76.2 bp −$7,616	254.8 bp −$127.4K

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
Injective VIRTUAL/USDC PERP	−0.0160%	1h	0.7117	+0.127%	$46	$88K	5.5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7104	−0.053%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7112	+0.051%	$11K	$45K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0080%	1h	0.7106	−0.028%	$2K	$131	10x	as long as short
Variational Omni VIRTUAL	−0.0021%	4h	0.7104	−0.063%	$518K	$872K	—	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7108	0.000%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7108	−0.006%	$12K	—	150x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0081%	4h	0.7106	−0.028%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7101	−0.094%	$323K	$391K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7112	+0.051%	$8.7M	$3.6M	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	0.7107	−0.014%	$193K	$76K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7110	+0.023%	$73K	$41K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7104	−0.050%	$16.3M	$36.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7100	−0.113%	$15.3M	$15.3M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7103	−0.070%	$2.8M	$9.0M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7108	0.000%	$1.5M	$2.8M	75x	as long as short
MEXC VIRTUAL_USDTshort	+0.0100%	4h	0.7103	−0.070%	$17.0M	$4.0M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7108	0.000%	$3.1M	$3.9M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7108	0.000%	$6.0M	$5.2M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7104	−0.056%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7115	+0.098%	$237K	$155K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7107	−0.008%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7107	−0.010%	$629K	$994K	10x	as long as short
ApeX Omni VIRTUALUSDTlong	+0.0100%	1h	0.7108	long leg	$40K	$244K	50x
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7108	0.000%	$33K	$783K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7110	+0.028%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7105	−0.049%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7103	−0.065%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7105	−0.045%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0296% / S −0.0228%	1h	0.7108	−0.005%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7113	+0.070%	$815K	$795K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7152	+0.619%	$195K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0529%	1h	0.7112	+0.063%	$521K	$522K	50x	as long as short