Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0128%/8h= +14.0% APRpaid last 24h +0.033%

Price spread now: GMX against MEXC+0.036%7-day average — · you sell dearer than you buy

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

Long on MEXC Short on GMX

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 +$4 a day on $10k at the current rate, and GMX is 0.036% dearer against MEXC than usual: you sell high and buy low: +$4 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	MEXC VIRTUAL_USDT	0.7109	0.0100	pay 0.0050% / 4h	2h 47m	$17.0M	$4.0M	100x
Short	GMX VIRTUAL/USD [WBTC.b-USDC]	0.7112	L +0.0296% / S −0.0228%	get 0.0029% / 1h	47m 54s	$30K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.036%Rate

Funding earned: $26.92
Price spread: +0.036% → 0.000%: $3.56
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $18.48
Costs to cover: 0.120%
Break-even: 2.2 days

Slippage unknown: MEXC: live order book, 1 min ago; GMX: no order-book sample. 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 MEXC live order book, 1 min ago	1.41 bp	3.3 bp −$3	7.7 bp −$77	64.0 bp −$6,405	241.7 bp −$120.8K
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
Injective VIRTUAL/USDC PERP	−0.0160%	1h	0.7117	+0.113%	$46	$88K	5.5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7106	−0.039%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7112	+0.037%	$11K	$45K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0080%	1h	0.7106	−0.042%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0031%	1h	0.7111	+0.028%	$15K	$40K	10x	as long as short
Variational Omni VIRTUAL	−0.0021%	4h	0.7104	−0.077%	$518K	$872K	—	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7112	+0.039%	$12K	—	150x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0081%	4h	0.7110	+0.014%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7106	−0.041%	$323K	$391K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7121	+0.174%	$8.7M	$3.6M	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	0.7115	+0.084%	$193K	$76K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7113	+0.054%	$73K	$41K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7114	+0.066%	$16.3M	$36.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7109	0.000%	$15.3M	$15.3M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7111	+0.028%	$2.8M	$9.0M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7112	+0.042%	$1.5M	$2.8M	75x	as long as short
MEXC VIRTUAL_USDTlong	+0.0100%	4h	0.7109	long leg	$17.0M	$4.0M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7113	+0.056%	$3.1M	$3.9M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7114	+0.070%	$6.0M	$5.2M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7112	+0.042%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7116	+0.098%	$237K	$155K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7112	+0.049%	$19K	$256K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7113	+0.063%	$630K	$994K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7108	−0.014%	$40K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7111	+0.023%	$33K	$783K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7111	+0.028%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7110	+0.017%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7112	+0.047%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7110	+0.019%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]short	L +0.0296% / S −0.0228%	1h	0.7112	+0.036%	$30K	—	100x
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7106	−0.042%	$813K	$798K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7152	+0.605%	$195K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0529%	1h	0.7119	+0.147%	$522K	$520K	50x	as long as short