Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against MEXC−0.527%81s7-day average +0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$360.362% of the position

Long on MEXC Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)+1.021%+$102 · spread now −0.527%, 7d avg +0.051%

Together, before fees+1.023%+$102 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: ApeX Omni is 0.578% cheaper against MEXC than usual: you would sell low and buy high, −$58 on $10k if it goes back to its 7-day average of +0.051%. The two prices were read 81 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC VIRTUAL_USDT	0.7215	0.0100	pay 0.0050% / 4h	1h 42m	$17.4M	$4.1M	100x
Short	ApeX Omni VIRTUALUSDT	0.7177	0.0100	get 0.0013% / 1h	42m 08s	$40K	$240K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against MEXC. 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 MEXCbpFee ApeX OmnibpOrdersPrice spread, now −0.527%Rate

Funding earned: $0
Price spread: −0.527% → +0.051%: −$57.78
Slippage, 4 orders: −$26.17
Fee MEXC: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$93.95
Costs to cover: 0.362%
Break-even: never at this rate

Slippage from MEXC: live order book, 6 min ago; ApeX Omni: 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 MEXC live order book, 6 min ago	0.70 bp	2.6 bp −$3	9.2 bp −$92	92.3 bp −$9,229	259.3 bp −$129.7K
Sell ApeX Omni live order book, 19 min ago	6.94 bp	15.1 bp −$15	112.9 bp −$1,129	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	0.7213	−0.024%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0064%	1h	0.7210	−0.069%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	0.0000%	1h	0.7165	−0.696%	$11K	$37K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7214	−0.014%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7215	+0.003%	$4K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.358%	$46	$88K	5.5x	as long as short
Lighter VIRTUAL	+0.0080%	1h	0.7211	−0.049%	$327K	$413K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7212	−0.042%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7220	+0.073%	$8.9M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7217	+0.023%	$98K	$291K	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	0.7216	+0.020%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7210	−0.063%	$16.5M	$40.7M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7204	−0.152%	$16.6M	$18.2M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7213	−0.028%	$2.9M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7217	+0.028%	$1.4M	$3.2M	75x	as long as short
MEXC VIRTUAL_USDTlong	+0.0100%	4h	0.7215	long leg	$17.4M	$4.1M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7216	+0.014%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7216	+0.014%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7215	0.000%	—	$8.0M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7217	+0.028%	$241K	$161K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7162	−0.731%	$532K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7171	−0.610%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7157	−0.804%	$635K	$867K	10x	as long as short
ApeX Omni VIRTUALUSDTshort	+0.0100%	1h	0.7177	−0.527%	$40K	$240K	50x
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7220	+0.075%	$52K	$993K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7215	0.000%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7215	−0.007%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7212	−0.037%	$54K	$277K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7213	−0.031%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7216	+0.016%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7207	−0.111%	$817K	$848K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7204	−0.152%	$188K	$83K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0906%	1h	0.7221	+0.080%	$600K	$688K	50x	as long as short