Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

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: Extended against MEXC−0.054%7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

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

Long on MEXC Short on Extended

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)+0.074%+$7 · spread now −0.054%, 7d avg −0.030%

Together, before fees+0.084%+ Points / potential airdropExtended: Active · farm board+$8 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: Extended is 0.024% cheaper against MEXC than usual: you would sell low and buy high, −$2 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	MEXC VIRTUAL_USDT	0.7317	0.0100	pay 0.0050% / 4h	31m 46s	$18.2M	$4.3M	100x
Short	Extended VIRTUAL-USD	0.7313	0.0104	get 0.0013% / 1h	31m 46s	$54K	$246K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.054%Rate

Funding earned: $0.84
Price spread: −0.054% → −0.030%: −$2.44
Slippage, 4 orders: −$27.43
Fee MEXC: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$34.03
Costs to cover: 0.324%
Break-even: 290.6 days

Slippage from MEXC: live order book, 2 min ago; Extended: live order book, 45 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, 2 min ago	0.68 bp	2.3 bp −$2	7.2 bp −$72	48.5 bp −$4,854	232.0 bp −$116.0K
Sell Extended live order book, 45 min ago	2.09 bp	13.7 bp −$14	158.5 bp −$1,585	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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0160%	1h	0.7319	+0.027%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7321	+0.060%	$25	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0136%	1h	0.7329	+0.164%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0066%	1h	0.7309	−0.103%	$11K	$40K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7328	+0.150%	$9K	—	150x	as long as short
Lighter VIRTUAL	+0.0024%	1h	0.7314	−0.038%	$333K	$415K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.733%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0093%	4h	0.7324	+0.096%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7321	+0.061%	$201K	$101K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7329	+0.158%	$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	0.7313	−0.049%	$16.7M	$38.4M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7308	−0.123%	$16.2M	$16.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7307	−0.137%	$2.9M	$9.5M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7319	+0.027%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDTlong	+0.0100%	4h	0.7317	long leg	$18.2M	$4.3M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7320	+0.041%	$4.4M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7317	0.000%	$6.3M	$5.5M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7315	−0.027%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7323	+0.082%	$248K	$169K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7305	−0.169%	$535K	$878K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7295	−0.307%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7305	−0.164%	$649K	$915K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7322	+0.068%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7334	+0.230%	$37K	$955K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7316	−0.014%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7319	+0.021%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USDshort	+0.0104%	1h	0.7313	−0.054%	$54K	$246K	10x
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7318	+0.009%	$18K	$505	3x	as long as short
Hyperliquid VIRTUAL	+0.0120%	1h	0.7319	+0.025%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0300% / S −0.0228%	1h	0.7326	+0.125%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7328	+0.150%	$815K	$851K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7339	+0.301%	$199K	$97K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0859%	1h	0.7332	+0.204%	$599K	$582K	50x	as long as short