Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: MEXC against ApeX Omni−0.334%81s7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as 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−$340.344% of the position

Long on ApeX Omni Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 4 days (all we have)+0.128%+$13 · spread now −0.334%, 7d avg −0.046%

Together, before fees+0.140%+$14 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: MEXC is 0.288% cheaper against ApeX Omni than usual: you would sell low and buy high, −$29 on $10k if it goes back to its 7-day average of −0.046%. The two prices were read 81 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	ApeX Omni VIRTUALUSDT	0.7181	0.0100	pay 0.0013% / 1h	24m 06s	$40K	$238K	50x
Short	MEXC VIRTUAL_USDT	0.7157	0.0100	get 0.0050% / 4h	3h 24m	$16.4M	$4.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against ApeX Omni. 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 ApeX OmnibpFee MEXCbpOrdersPrice spread, now −0.334%Rate

Funding earned: $0
Price spread: −0.334% → −0.046%: −$28.81
Slippage, 4 orders: −$24.39
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$63.2
Costs to cover: 0.344%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 27 min ago; MEXC: live order book, 4 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 ApeX Omni live order book, 27 min ago	6.93 bp	14.5 bp −$14	100.1 bp −$1,001	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	0.70 bp	3.1 bp −$3	7.0 bp −$70	80.2 bp −$8,024	259.8 bp −$129.9K

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	−0.0727%	1h	0.7158	−0.320%	$15K	$40K	10x	as long as short
Lighter VIRTUAL	−0.0168%	1h	0.7155	−0.358%	$326K	$406K	5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7160	−0.297%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0136%	1h	0.7159	−0.306%	$2K	$106	10x	as long as short
Phoenix VIRTUAL	−0.0022%	1h	0.7176	−0.064%	$11K	$37K	5x	as long as short
SoDEX VIRTUAL-USD	+0.0002%	1h	0.7157	−0.337%	$1K	$9K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7163	−0.257%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.891%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7156	−0.348%	$14K	$1.4M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7174	−0.097%	$8.8M	$4.1M	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	0.7164	−0.243%	$94K	$299K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7166	−0.204%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7160	−0.292%	$16.2M	$41.0M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7155	−0.362%	$16.5M	$18.6M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7164	−0.237%	$2.8M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7163	−0.251%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDTshort	+0.0100%	4h	0.7157	−0.334%	$16.4M	$4.7M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7162	−0.265%	$3.0M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7162	−0.265%	$6.1M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7161	−0.279%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7165	−0.223%	$240K	$213K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7166	−0.206%	$536K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7174	−0.098%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7187	+0.084%	$638K	$953K	10x	as long as short
ApeX Omni VIRTUALUSDTlong	+0.0100%	1h	0.7181	long leg	$40K	$238K	50x
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7163	−0.256%	$54K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7157	−0.334%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7156	−0.341%	$57K	$265K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7155	−0.362%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7162	−0.263%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7165	−0.223%	$794K	$949K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7214	+0.460%	$201K	$104K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0488%	1h	0.7168	−0.179%	$587K	$665K	50x	as long as short