Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: MEXC against Extended+0.095%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$320.324% of the position

Long on Extended Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 4 days (all we have)−0.115%−$12 · spread now +0.095%, 7d avg +0.030%

Together, before fees−0.125%+ Points / potential airdropExtended: Active · farm board−$12 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 0.065% dearer against Extended than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended VIRTUAL-USD	0.7313	0.0104	pay 0.0013% / 1h	31m 57s	$54K	$246K	10x
Short	MEXC VIRTUAL_USDT	0.7320	0.0100	get 0.0050% / 4h	31m 57s	$18.2M	$4.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Extended. 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 ExtendedbpFee MEXCbpOrdersPrice spread, now +0.095%Rate

Funding earned: −$0.84
Price spread: +0.095% → +0.030%: $6.55
Slippage, 4 orders: −$27.43
Fee Extended: 2.5 bp × 2 orders: −$5
Fee MEXC: 0 bp × 2 orders: $0
Net: −$26.72
Costs to cover: 0.324%
Break-even: never at this rate

Slippage from Extended: live order book, 45 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 Extended live order book, 45 min ago	2.09 bp	14.3 bp −$14	245.2 bp −$2,452	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	0.68 bp	2.1 bp −$2	9.1 bp −$91	65.4 bp −$6,542	242.3 bp −$121.1K

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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0160%	1h	0.7319	+0.082%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7321	+0.114%	$25	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0136%	1h	0.7329	+0.218%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0066%	1h	0.7309	−0.048%	$11K	$40K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7328	+0.204%	$9K	—	150x	as long as short
Lighter VIRTUAL	+0.0024%	1h	0.7314	+0.016%	$333K	$415K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.680%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0093%	4h	0.7324	+0.150%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7323	+0.132%	$201K	$101K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7329	+0.213%	$73K	$44K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VIRTUALUSDT	+0.0100%	4h	0.7317	+0.049%	$16.7M	$38.4M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7316	+0.041%	$16.2M	$16.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7315	+0.027%	$2.9M	$9.5M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7320	+0.095%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDTshort	+0.0100%	4h	0.7320	+0.095%	$18.2M	$4.3M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7322	+0.123%	$4.4M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7321	+0.109%	$6.3M	$5.5M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7320	+0.095%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7323	+0.136%	$248K	$169K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7305	−0.114%	$535K	$878K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7295	−0.253%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7305	−0.110%	$649K	$915K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7322	+0.123%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7334	+0.284%	$37K	$955K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7316	+0.041%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7319	+0.075%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USDlong	+0.0104%	1h	0.7313	long leg	$54K	$246K	10x
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7318	+0.064%	$18K	$505	3x	as long as short
Hyperliquid VIRTUAL	+0.0125%	1h	0.7330	+0.235%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0300% / S −0.0228%	1h	0.7326	+0.179%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7328	+0.205%	$815K	$851K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7339	+0.355%	$199K	$97K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0859%	1h	0.7332	+0.259%	$599K	$582K	50x	as long as short