Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0340%/8h= −37.2% APRpaid last 24h −0.082%

Price spread now: edgeX against Coinbase International−0.320%7-day average −0.309% · you buy dearer than you sell

Net, funding: paid 7d − costs−$153as in the Funding arb table

Net, price: spread back to 7d avg − costs−$112as in the Price arb table

costs, in and out, $10k−$1111.108% of the position

Long on Coinbase International Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.422%−$42 on $10k

Price spread, last 4 days (all we have)+0.144%+$14 · spread now −0.320%, 7d avg −0.309%

Together, before fees−0.278%+ Points / potential airdropedgeX: Active · farm board−$28 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.309%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International VIRTUAL-PERP-INTX	0.7205	0.0440	pay 0.0055% / 1h	33m 08s	$201K	$104K	50x
Short	edgeX VIRTUALUSDC	0.7182	0.0100	get 0.0050% / 4h	3h 33m	$19K	$261K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Coinbase International. 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 Coinbase InternationalbpFee edgeXbpOrdersPrice spread, now −0.320%Rate

Funding earned: −$71.4
Price spread: −0.320% → −0.309%: −$1.14
Slippage, 4 orders: −$91.76
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$183.3
Costs to cover: 1.108%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 20 min ago; edgeX: live order book, 19 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 Coinbase International live order book, 20 min ago	6.91 bp	39.4 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 19 min ago	2.77 bp	8.2 bp −$8	32.5 bp −$325	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	0.7184	−0.295%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0112%	1h	0.7181	−0.333%	$2K	$106	10x	as long as short
Lighter VIRTUAL	−0.0056%	1h	0.7180	−0.353%	$327K	$406K	5x	as long as short
Phoenix VIRTUAL	−0.0022%	1h	0.7189	−0.223%	$11K	$37K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7186	−0.264%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7186	−0.263%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.221%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0092%	4h	0.7184	−0.291%	$14K	$1.4M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7195	−0.142%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7184	−0.296%	$94K	$294K	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	0.7180	−0.352%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7186	−0.264%	$16.3M	$41.0M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7183	−0.305%	$16.6M	$18.6M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7187	−0.250%	$2.9M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7183	−0.305%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7187	−0.250%	$16.5M	$4.6M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7184	−0.291%	$3.0M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7185	−0.278%	$6.1M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7182	−0.319%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7189	−0.222%	$241K	$213K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7181	−0.330%	$537K	$913K	—	as long as short
edgeX VIRTUALUSDCshort	+0.0100%	4h	0.7182	−0.320%	$19K	$261K	10x
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7185	−0.278%	$638K	$941K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7198	−0.097%	$41K	$238K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7187	−0.257%	$54K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7182	−0.319%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7186	−0.271%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7184	−0.292%	$57K	$267K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7187	−0.253%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7188	−0.233%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7185	−0.278%	$800K	$952K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTXlong	+0.0440%	1h	0.7205	long leg	$201K	$104K	50x
Kraken Futures PF_VIRTUALUSD	+0.0486%	1h	0.7193	−0.161%	$590K	$664K	50x	as long as short