Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: edgeX against MEXC−0.195%83s7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as 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−$200.197% of the position

Long on MEXC Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 3 days (all we have)+0.269%+$27 · spread now −0.195%, 7d avg −0.027%

Together, before fees+0.270%+ Points / potential airdropedgeX: Active · farm board+$27 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 0.167% cheaper against MEXC than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of −0.027%. The two prices were read 83 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	0.7278	0.0100	pay 0.0050% / 4h	22m 08s	$18.2M	$4.3M	100x
Short	edgeX VIRTUALUSDC	0.7264	0.0100	get 0.0050% / 4h	22m 08s	$19K	$257K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.195%Rate

Funding earned: $0
Price spread: −0.195% → −0.027%: −$16.72
Slippage, 4 orders: −$10.65
Fee MEXC: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$36.38
Costs to cover: 0.197%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; edgeX: live order book, 55 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	2.5 bp −$2	10.2 bp −$102	94.7 bp −$9,465	267.3 bp −$133.6K
Sell edgeX live order book, 55 min ago	2.09 bp	7.3 bp −$7	30.8 bp −$308	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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0162%	1h	0.7284	+0.082%	$15K	$40K	10x	as long as short
01 Exchange VIRTUALUSD	−0.0152%	1h	0.7289	+0.151%	$2K	$131	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7287	+0.118%	$24	—	10x	as long as short
Lighter VIRTUAL	−0.0088%	1h	0.7277	−0.010%	$331K	$416K	5x	as long as short
Phoenix VIRTUAL	−0.0066%	1h	0.7264	−0.190%	$11K	$40K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7291	+0.178%	$9K	—	150x	as long as short
SoDEX VIRTUAL-USD	+0.0028%	1h	0.7278	+0.004%	$1K	$9K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.212%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0092%	4h	0.7284	+0.082%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7287	+0.130%	$200K	$102K	20x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7282	+0.052%	$73K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7285	+0.096%	$16.6M	$38.7M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7282	+0.055%	$16.2M	$16.7M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7283	+0.069%	$2.9M	$9.5M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7292	+0.192%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDTlong	+0.0100%	4h	0.7278	long leg	$18.2M	$4.3M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7288	+0.137%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7287	+0.124%	$6.3M	$5.5M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7284	+0.082%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7291	+0.179%	$247K	$169K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7281	+0.037%	$533K	$878K	—	as long as short
edgeX VIRTUALUSDCshort	+0.0100%	4h	0.7264	−0.195%	$19K	$257K	10x
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7296	+0.245%	$648K	$915K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7268	−0.137%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7294	+0.225%	$41K	$962K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7281	+0.041%	$2K	$1.3M	20x	as long as short
Hyperliquid VIRTUAL	+0.0103%	1h	0.7303	+0.341%	$9.1M	$4.0M	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7278	−0.006%	$54K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7283	+0.074%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7290	+0.166%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7266	−0.165%	$819K	$846K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7280	+0.027%	$198K	$93K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0864%	1h	0.7294	+0.223%	$596K	$581K	50x	as long as short