Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: edgeX against Bybit−1.028%51s7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as 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−$410.408% of the position

Long on Bybit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 4 days (all we have)+1.215%+$122 · spread now −1.028%, 7d avg +0.007%

Together, before fees+1.227%+ Points / potential airdropedgeX: Active · farm board+$123 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: edgeX is 1.034% cheaper against Bybit than usual: you would sell low and buy high, −$103 on $10k if it goes back to its 7-day average of +0.007%. The two prices were read 51 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	Bybit VIRTUALUSDT	0.7170	0.0100	pay 0.0050% / 4h	30m 44s	$16.5M	$18.4M	50x
Short	edgeX VIRTUALUSDC	0.7096	0.0100	get 0.0050% / 4h	30m 44s	$19K	$261K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Bybit. 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 BybitbpFee edgeXbpOrdersPrice spread, now −1.028%Rate

Funding earned: $0
Price spread: −1.028% → +0.007%: −$103.43
Slippage, 4 orders: −$20.77
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$144.2
Costs to cover: 0.408%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; edgeX: live order book, 27 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 Bybit live order book, 3 min ago	0.70 bp	12.9 bp −$13	24.4 bp −$244	doesn't fit	doesn't fit
Sell edgeX live order book, 27 min ago	3.50 bp	9.3 bp −$9	33.8 bp −$338	doesn't fit	doesn't fit

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	0.7158	−0.163%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0112%	1h	0.7161	−0.126%	$2K	$131	10x	as long as short
Lighter VIRTUAL	−0.0096%	1h	0.7163	−0.100%	$326K	$415K	5x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7103	−0.932%	$11K	$37K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7161	−0.124%	$14K	—	150x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	+0.0029%	1h	0.7163	−0.098%	$15K	$40K	10x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.739%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0088%	4h	0.7161	−0.126%	$14K	$1.4M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7179	+0.123%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7166	−0.049%	$96K	$292K	20x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7172	+0.023%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7169	−0.020%	$16.2M	$40.6M	75x	as long as short
Bybit VIRTUALUSDTlong	+0.0100%	4h	0.7170	long leg	$16.5M	$18.4M	50x
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7171	+0.014%	$2.8M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7168	−0.028%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7170	0.000%	$17.5M	$4.4M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7173	+0.042%	$2.9M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7173	+0.042%	$6.1M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7172	+0.028%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7166	−0.056%	$239K	$210K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7158	−0.171%	$535K	$913K	—	as long as short
edgeX VIRTUALUSDCshort	+0.0100%	4h	0.7096	−1.028%	$19K	$261K	10x
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7103	−0.941%	$631K	$879K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7131	−0.544%	$40K	$239K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7164	−0.081%	$54K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7159	−0.153%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7160	−0.137%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7168	−0.023%	$54K	$270K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7158	−0.164%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0316% / S −0.0265%	1h	0.7160	−0.133%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7159	−0.153%	$801K	$896K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0416%	1h	0.7157	−0.181%	$200K	$105K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0801%	1h	0.7167	−0.048%	$593K	$667K	50x	as long as short