Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against MEXC−0.049%7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$370.371% of the position

Long on MEXC Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.236%+$24 · spread now −0.049%, 7d avg −0.029%

Together, before fees+0.235%+ Points / potential airdropExtended: Active · farm board+$24 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC VIRTUAL_USDT	0.7277	0.0100	pay 0.0050% / 4h	3h 00m	$15.6M	$5.3M	100x
Short	Extended VIRTUAL-USD	0.7273	0.0104	get 0.0013% / 1h	0m 08s	$54K	$308K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.049%Rate

Funding earned: $0.84
Price spread: −0.049% → −0.029%: −$1.98
Slippage, 4 orders: −$32.12
Fee MEXC: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$38.26
Costs to cover: 0.371%
Break-even: 325.9 days

Slippage from MEXC: live order book, 3 min ago; Extended: live order book, 32 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, 3 min ago	1.38 bp	3.7 bp −$4	6.7 bp −$67	64.8 bp −$6,480	245.6 bp −$122.8K
Sell Extended live order book, 32 min ago	1.76 bp	14.4 bp −$14	195.9 bp −$1,959	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
Kraken Futures PF_VIRTUALUSD	−0.0221%	1h	0.7279	+0.026%	$521K	$724K	50x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7251	−0.362%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7258	−0.267%	$11K	$36K	5x	as long as short
Lighter VIRTUAL	−0.0024%	1h	0.7268	−0.118%	$331K	$406K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7279	+0.027%	$15K	$30K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0006%	1h	0.7279	+0.027%	$22K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.199%	$46	$88K	5.5x	as long as short
Variational Omni VIRTUAL	+0.0049%	4h	0.7249	−0.383%	$543K	$754K	—	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0083%	4h	0.7280	+0.041%	$15K	$1.9M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7272	−0.062%	$93K	$304K	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	0.7276	−0.020%	$72K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7266	−0.151%	$16.3M	$41.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7265	−0.165%	$16.8M	$18.8M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7267	−0.137%	$2.9M	$10.3M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7281	+0.055%	$1.6M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDTlong	+0.0100%	4h	0.7277	long leg	$15.6M	$5.3M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7282	+0.069%	$3.4M	$4.6M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7275	−0.027%	$6.1M	$5.6M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7271	−0.082%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7276	−0.014%	$249K	$174K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7254	−0.315%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7256	−0.284%	$638K	$1.3M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7260	−0.234%	$41K	$234K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7284	+0.096%	$48K	$1.0M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7278	+0.014%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7277	−0.003%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USDshort	+0.0104%	1h	0.7273	−0.049%	$54K	$308K	10x
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7276	−0.009%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0168%	1h	0.7280	+0.043%	$9.0M	$3.7M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0313% / S −0.0258%	1h	0.7252	−0.340%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7263	−0.192%	$780K	$1.1M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0512%	1h	0.7289	+0.165%	$203K	$101K	50x	as long as short
01 Exchange VIRTUALUSD	+0.6272%	1h	0.7411	+1.841%	$2K	$80	10x	as long as short