Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.071%

Price spread now: edgeX against Deribit−0.152%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Funding pays, the price is against you. edgeX is 0.152% cheaper against Deribit than usual: you would sell low and buy high (spread −0.152% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 5.1 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit VIRTUAL_USDC-PERPETUAL	0.7145	0	get 0.0000% / 1h	14m 31s	$15K	$40K	10x
Short	edgeX VIRTUALUSDC	0.7134	0.0100	get 0.0050% / 4h	14m 31s	$19K	$258K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Deribit. 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 DeribitbpFee edgeXbpOrdersPrice spread, now −0.152%Rate

Funding earned: $21
Price spread: −0.152% → 0.000%: −$15.22
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$10.22
Costs to cover: 0.160%
Break-even: 10.4 days

Slippage unknown: Deribit: no order-book sample; edgeX: live order book, 23 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell edgeX live order book, 23 min ago	2.81 bp	8.0 bp −$8	35.5 bp −$355	doesn't fit	doesn't fit

Deribit: 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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_VIRTUALUSD	−0.0336%	1h	0.7148	+0.043%	$519K	$741K	50x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7140	−0.066%	$24	—	10x	as long as short
Variational Omni VIRTUAL	−0.0084%	4h	0.7138	−0.092%	$535K	$837K	—	as long as short
Phoenix VIRTUAL	−0.0067%	1h	0.7137	−0.111%	$11K	$36K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0040%	1h	0.7286	+1.973%	$2K	$106	10x	as long as short
Lighter VIRTUAL	−0.0024%	1h	0.7151	+0.084%	$323K	$403K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUALlong	0.0000%	1h	0.7145	long leg	$15K	$40K	10x
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0006%	1h	0.7144	−0.008%	$22K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.392%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0073%	4h	0.7145	0.000%	$16K	$1.8M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit VIRTUALUSDT	+0.0087%	4h	0.7148	+0.042%	$16.3M	$18.8M	50x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7154	+0.126%	$93K	$302K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7155	+0.140%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7153	+0.115%	$16.1M	$42.0M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7154	+0.126%	$2.9M	$10.0M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7152	+0.098%	$1.5M	$3.4M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7152	+0.098%	$15.6M	$5.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7154	+0.126%	$3.2M	$4.5M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7154	+0.126%	$6.0M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7149	+0.056%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7150	+0.070%	$237K	$175K	10x	as long as short
edgeX VIRTUALUSDCshort	+0.0100%	4h	0.7134	−0.152%	$19K	$258K	10x
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7132	−0.182%	$635K	$1.1M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7138	−0.098%	$40K	$235K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7152	+0.101%	$45K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7144	−0.014%	$2K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7145	−0.007%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7148	+0.036%	$53K	$304K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7144	−0.010%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0313% / S −0.0258%	1h	0.7144	−0.007%	$32K	—	100x	as long as short
Hyperliquid VIRTUAL	+0.0326%	1h	0.7164	+0.263%	$8.8M	$3.8M	5x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7139	−0.084%	$783K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0480%	1h	0.7170	+0.350%	$200K	$100K	50x	as long as short