Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.028%

Price spread now: MEXC against gTrade (Gains Network)+0.139%7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and MEXC is 0.139% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$14 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) VIRTUAL/USD	0.7045	L +0.0007% / S −0.0005%	pay 0.0001% / 1h	22m 41s	$14K	—	150x
Short	MEXC VIRTUAL_USDT	0.7055	0.0100	get 0.0050% / 4h	2h 22m	$15.3M	$4.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee MEXCbpOrdersPrice spread, now +0.139%Rate

Funding earned: $19.6
Price spread: +0.139% → 0.000%: $13.91
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: $23.51
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: gTrade (Gains Network): no order-book sample; MEXC: live order book, 1 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell MEXC live order book, 1 min ago	1.42 bp	3.1 bp −$3	7.5 bp −$75	72.1 bp −$7,213	256.8 bp −$128.4K

gTrade (Gains Network): 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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0176%	1h	0.7042	−0.045%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7039	−0.090%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0136%	1h	0.7036	−0.131%	$2K	$106	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7046	+0.017%	$11K	$36K	5x	as long as short
Lighter VIRTUAL	−0.0040%	1h	0.7051	+0.079%	$320K	$403K	5x	as long as short
Bybit VIRTUALUSDT	−0.0034%	4h	0.7056	+0.153%	$16.2M	$19.0M	50x	as long as short
gTrade (Gains Network) VIRTUAL/USDlong	L +0.0007% / S −0.0005%	1h	0.7045	long leg	$14K	—	150x
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	+1.019%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0075%	4h	0.7042	−0.045%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7061	+0.223%	$8.7M	$4.0M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7056	+0.149%	$92K	$302K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7050	+0.068%	$69K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7056	+0.153%	$15.9M	$41.9M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7065	+0.281%	$2.8M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7051	+0.082%	$1.5M	$3.4M	75x	as long as short
MEXC VIRTUAL_USDTshort	+0.0100%	4h	0.7055	+0.139%	$15.3M	$4.9M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7051	+0.082%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7054	+0.125%	$6.0M	$5.9M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7052	+0.097%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7051	+0.082%	$237K	$207K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7023	−0.310%	$523K	$913K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7022	−0.329%	$18K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7038	−0.102%	$627K	$1.0M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7024	−0.301%	$40K	$238K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7045	−0.009%	$52K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7047	+0.026%	$1K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7042	−0.044%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7055	+0.140%	$56K	$299K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7040	−0.075%	$18K	—	3x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0283%	1h	0.7047	+0.019%	$520K	$764K	50x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0311% / S −0.0258%	1h	0.7042	−0.052%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7045	−0.003%	$779K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0432%	1h	0.7057	+0.167%	$196K	$100K	50x	as long as short