Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0348%/8h= +38.1% APRpaid last 24h +0.070%

Price spread now: Coinbase International against edgeX+0.511%7-day average +0.302% · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$1181.184% of the position

Long on edgeX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.421%+$42 on $10k

Price spread, last 3 days (all we have)−0.169%−$17 · spread now +0.511%, 7d avg +0.302%

Together, before fees+0.252%+ Points / potential airdropedgeX: Active · farm board+$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Coinbase International is 0.209% dearer against edgeX than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of +0.302%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX VIRTUALUSDC	0.7274	0.0100	pay 0.0050% / 4h	11m 18s	$19K	$257K	10x
Short	Coinbase International VIRTUAL-PERP-INTX	0.7311	0.0448	get 0.0056% / 1h	11m 18s	$199K	$94K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against edgeX. 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 edgeXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.511%Rate

Funding earned: $73.08
Price spread: +0.511% → +0.302%: $20.94
Slippage, 4 orders: −$99.44
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$24.42
Costs to cover: 1.184%
Break-even: 9.3 days

Slippage from edgeX: live order book, 1 min ago; Coinbase International: 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 edgeX live order book, 1 min ago	2.06 bp	7.1 bp −$7	19.7 bp −$197	doesn't fit	doesn't fit
Sell Coinbase International live order book, 2 min ago	6.86 bp	52.5 bp −$52	889.1 bp −$8,891	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
01 Exchange VIRTUALUSD	−0.0168%	1h	0.7264	−0.135%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0162%	1h	0.7273	−0.011%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7266	−0.108%	$24	—	10x	as long as short
Lighter VIRTUAL	−0.0112%	1h	0.7274	0.000%	$330K	$416K	5x	as long as short
Phoenix VIRTUAL	−0.0066%	1h	0.7293	+0.266%	$11K	$40K	5x	as long as short
SoDEX VIRTUAL-USD	−0.0017%	1h	0.7269	−0.066%	$1K	$9K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7274	+0.006%	$8K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.156%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7270	−0.053%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7274	−0.004%	$200K	$102K	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	0.7284	+0.139%	$72K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7268	−0.079%	$16.5M	$38.9M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7270	−0.053%	$16.2M	$16.7M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7269	−0.066%	$2.9M	$9.5M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7271	−0.039%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7266	−0.108%	$18.2M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7273	−0.011%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7277	+0.044%	$6.3M	$5.5M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7270	−0.053%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7284	+0.140%	$247K	$168K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7266	−0.108%	$543K	$888K	—	as long as short
edgeX VIRTUALUSDClong	+0.0100%	4h	0.7274	long leg	$19K	$257K	10x
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7271	−0.041%	$646K	$915K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7273	−0.011%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7272	−0.028%	$37K	$993K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7272	−0.025%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7267	−0.099%	$54K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7269	−0.063%	$18K	$505	3x	as long as short
Hyperliquid VIRTUAL	+0.0112%	1h	0.7280	+0.082%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7273	−0.007%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7279	+0.071%	$816K	$848K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTXshort	+0.0448%	1h	0.7311	+0.511%	$199K	$94K	50x
Kraken Futures PF_VIRTUALUSD	+0.0865%	1h	0.7285	+0.153%	$595K	$581K	50x	as long as short