Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0239%/8h= −26.2% APRpaid last 24h −0.072%

Price spread now: Reya against MEXC+0.046%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 Reya

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—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. Reya is 0.046% dearer against MEXC than usual: you sell high and buy low (spread +0.046% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC VIRTUAL_USDT	0.7374	0.0100	pay 0.0050% / 4h	3h 12m	$18.6M	$4.2M	100x
Short	Reya VIRTUALRUSDPERP	0.7377	−0.0139	pay 0.0017% / 1h	12m 57s	$25	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.046%Rate

Funding earned: −$50.22
Price spread: +0.046% → 0.000%: $4.59
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: −$51.63
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 1 min ago; Reya: 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	1.35 bp	3.5 bp −$3	7.1 bp −$71	82.3 bp −$8,229	256.8 bp −$128.4K
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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
Reya VIRTUALRUSDPERPshort	−0.0139%	1h	0.7377	+0.046%	$25	—	10x
Phoenix VIRTUAL	−0.0109%	1h	0.7292	−1.111%	$11K	$40K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0048%	1h	0.7378	+0.054%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7384	+0.136%	$16K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7382	+0.109%	$4K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−3.485%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7383	+0.122%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7374	+0.001%	$334K	$419K	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7385	+0.149%	$201K	$157K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7384	+0.134%	$73K	$45K	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	0.7378	+0.050%	$17.2M	$39.7M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7375	+0.014%	$16.8M	$17.2M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7372	−0.027%	$2.9M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7379	+0.068%	$1.5M	$3.1M	75x	as long as short
MEXC VIRTUAL_USDTlong	+0.0100%	4h	0.7374	long leg	$18.6M	$4.2M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7380	+0.081%	$4.4M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7379	+0.068%	$6.3M	$5.7M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7375	+0.014%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7378	+0.054%	$250K	$166K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7364	−0.131%	$551K	$885K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7368	−0.087%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7382	+0.105%	$657K	$890K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7371	−0.041%	$41K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7385	+0.142%	$49K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7382	+0.108%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7380	+0.079%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7370	−0.049%	$55K	$277K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7383	+0.123%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0220%	1h	0.7382	+0.115%	$9.2M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0301% / S −0.0228%	1h	0.7381	+0.099%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7379	+0.068%	$831K	$860K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7380	+0.081%	$200K	$93K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0732%	1h	0.7392	+0.241%	$613K	$651K	50x	as long as short