Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.019%

Price spread now: edgeX against Hyperliquid−0.433%86s7-day average −0.121% · you buy dearer than you sell

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

Long on Hyperliquid Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.064%−$6 on $10k

Price spread, last 4 days (all we have)+0.545%+$55 · spread now −0.433%, 7d avg −0.121%

Together, before fees+0.482%+ Points / potential airdropHyperliquid: Season 2 · edgeX: Active · farm board+$48 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: edgeX is 0.312% cheaper against Hyperliquid than usual: you would sell low and buy high, −$31 on $10k if it goes back to its 7-day average of −0.121%. The two prices were read 86 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	Hyperliquid VIRTUAL	0.7192	0.0100	pay 0.0013% / 1h	0m 08s	$8.8M	$4.1M	5x
Short	edgeX VIRTUALUSDC	0.7161	0.0100	get 0.0050% / 4h	0m 08s	$19K	$261K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Hyperliquid. 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 HyperliquidbpFee edgeXbpOrdersPrice spread, now −0.433%Rate

Funding earned: $0
Price spread: −0.433% → −0.121%: −$31.24
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$49.24
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 2 min ago; edgeX: live order book, 57 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 Hyperliquid live order book, 2 min ago	0.77 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 57 min ago	3.50 bp	9.3 bp −$9	33.8 bp −$338	doesn't fit	doesn't fit

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 VIRTUALRUSDPERP	−0.0139%	1h	0.7188	−0.055%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0064%	1h	0.7187	−0.074%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7155	−0.514%	$11K	$37K	5x	as long as short
Lighter VIRTUAL	−0.0016%	1h	0.7185	−0.103%	$327K	$415K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7192	−0.008%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.047%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0093%	4h	0.7191	−0.018%	$14K	$1.4M	10x	as long as short
Hyperliquid VIRTUALlong	+0.0100%	1h	0.7192	long leg	$8.8M	$4.1M	5x
Aster VIRTUALUSDT	+0.0100%	4h	0.7192	+0.003%	$97K	$292K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7192	−0.003%	$71K	$43K	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	0.7187	−0.068%	$16.3M	$40.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7183	−0.129%	$16.5M	$18.4M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7185	−0.101%	$2.8M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7190	−0.032%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7185	−0.101%	$17.5M	$4.5M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7193	+0.010%	$3.0M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7188	−0.060%	$6.2M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7188	−0.060%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7189	−0.046%	$239K	$208K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7181	−0.154%	$537K	$913K	—	as long as short
edgeX VIRTUALUSDCshort	+0.0100%	4h	0.7161	−0.433%	$19K	$261K	10x
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7166	−0.366%	$640K	$913K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7165	−0.380%	$41K	$239K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7193	+0.004%	$55K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7190	−0.032%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7189	−0.046%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7188	−0.056%	$54K	$263K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7190	−0.036%	$18K	—	3x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	+0.0167%	1h	0.7192	−0.004%	$15K	$40K	10x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0316% / S −0.0265%	1h	0.7189	−0.049%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7186	−0.088%	$801K	$901K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0416%	1h	0.7184	−0.115%	$201K	$105K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0797%	1h	0.7198	+0.076%	$593K	$664K	50x	as long as short