Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.020%

Price spread now: GRVT against MEXC−0.194%82s7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as 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−$490.486% of the position

Long on MEXC Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.115%−$12 on $10k

Price spread, last 4 days (all we have)+0.881%+$88 · spread now −0.194%, 7d avg −0.018%

Together, before fees+0.766%+ Points / potential airdropGRVT: Active · farm board+$77 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: GRVT is 0.176% cheaper against MEXC than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of −0.018%. The two prices were read 82 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	0.7217	0.0100	pay 0.0050% / 4h	2h 32m	$17.5M	$4.2M	100x
Short	GRVT VIRTUAL_USDT_Perp	0.7203	0.0100	get 0.0050% / 4h	2h 32m	$639K	$888K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.194%Rate

Funding earned: $0
Price spread: −0.194% → −0.018%: −$17.61
Slippage, 4 orders: −$39.64
Fee MEXC: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$66.26
Costs to cover: 0.486%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; GRVT: live order book, 36 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, 1 min ago	0.69 bp	1.8 bp −$2	8.1 bp −$81	101.3 bp −$10.1K	260.8 bp −$130.4K
Sell GRVT live order book, 36 min ago	2.70 bp	26.1 bp −$26	82.3 bp −$823	doesn't fit	doesn't fit

VIRTUAL on 32 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	0.7227	+0.144%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0088%	1h	0.7225	+0.111%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7225	+0.111%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7227	+0.134%	$4K	—	150x	as long as short
Phoenix VIRTUAL	+0.0011%	1h	0.7219	+0.029%	$11K	$46K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.386%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7222	+0.069%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7215	−0.033%	$328K	$414K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7229	+0.165%	$8.9M	$4.2M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7228	+0.151%	$171K	$296K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7222	+0.076%	$71K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7225	+0.104%	$16.6M	$41.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7216	−0.014%	$16.4M	$18.1M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7219	+0.028%	$2.9M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7226	+0.125%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDTlong	+0.0100%	4h	0.7217	long leg	$17.5M	$4.2M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7225	+0.111%	$4.2M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7225	+0.111%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7222	+0.069%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7225	+0.111%	$244K	$173K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7202	−0.209%	$535K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7195	−0.301%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perpshort	+0.0100%	4h	0.7203	−0.194%	$639K	$888K	10x
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7203	−0.194%	$41K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7231	+0.195%	$52K	$1.2M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7221	+0.055%	$2K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7220	+0.048%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7219	+0.033%	$56K	$275K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7222	+0.063%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7227	+0.139%	$30K	—	100x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7232	+0.208%	$196K	$93K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.1021%	1h	0.7233	+0.228%	$597K	$666K	50x	as long as short