Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0236%/8h= +25.8% APRpaid last 24h +0.081%

Price spread now: MEXC against 01 Exchange−0.183%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on MEXC

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

Funding pays, the price is against you. MEXC is 0.183% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.183% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 2.6 days of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange VIRTUALUSD	0.7121	−0.0136	get 0.0017% / 1h	58m 00s	$2K	$131	10x
Short	MEXC VIRTUAL_USDT	0.7108	0.0100	get 0.0050% / 4h	2h 58m	$17.0M	$4.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against 01 Exchange. 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 01 ExchangebpFee MEXCbpOrdersPrice spread, now −0.183%Rate

Funding earned: $49.56
Price spread: −0.183% → 0.000%: −$18.26
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee MEXC: 0 bp × 2 orders: $0
Net: $24.3
Costs to cover: 0.070%
Break-even: 3.6 days

Slippage unknown: 01 Exchange: no order-book sample; MEXC: live order book, 1 min ago. 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 01 Exchange no order-book sample	—	—	—	—	—
Sell MEXC live order book, 1 min ago	0.70 bp	4.3 bp −$4	7.2 bp −$72	69.5 bp −$6,951	251.7 bp −$125.8K

01 Exchange: 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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0171%	1h	0.7114	−0.098%	$15K	$40K	10x	as long as short
Injective VIRTUAL/USDC PERP	−0.0160%	1h	0.7117	−0.056%	$46	$88K	5.5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7118	−0.041%	$24	—	10x	as long as short
01 Exchange VIRTUALUSDlong	−0.0136%	1h	0.7121	long leg	$2K	$131	10x
Phoenix VIRTUAL	−0.0079%	1h	0.7136	+0.209%	$11K	$45K	5x	as long as short
Variational Omni VIRTUAL	−0.0035%	4h	0.7138	+0.233%	$518K	$872K	—	as long as short
Lighter VIRTUAL	−0.0032%	1h	0.7109	−0.169%	$323K	$390K	5x	as long as short
SoDEX VIRTUAL-USD	−0.0005%	1h	0.7112	−0.129%	$1K	$9K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7118	−0.045%	$12K	—	150x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0080%	4h	0.7116	−0.070%	$14K	$1.5M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VIRTUAL	+0.0100%	1h	0.7121	−0.001%	$8.7M	$3.7M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7119	−0.029%	$193K	$76K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7126	+0.068%	$74K	$41K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7116	−0.070%	$16.3M	$36.8M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7110	−0.154%	$15.4M	$15.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7111	−0.140%	$2.8M	$9.2M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7115	−0.084%	$1.5M	$2.8M	75x	as long as short
MEXC VIRTUAL_USDTshort	+0.0100%	4h	0.7108	−0.183%	$17.0M	$4.0M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7117	−0.056%	$3.0M	$3.9M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7118	−0.042%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7111	−0.140%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7113	−0.112%	$234K	$157K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7121	+0.005%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7131	+0.141%	$636K	$982K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7126	+0.070%	$40K	$242K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7124	+0.042%	$33K	$787K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7115	−0.084%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7112	−0.131%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7115	−0.081%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0296% / S −0.0228%	1h	0.7119	−0.032%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7132	+0.154%	$811K	$812K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7152	+0.435%	$195K	$104K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0528%	1h	0.7125	+0.049%	$518K	$521K	50x	as long as short