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% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against MEXC0.000%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$340.344% of the position

Long on MEXC Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 7 days+0.005%+$1 · spread now 0.000%, 7d avg +0.020%

Together, before fees−0.009%−$1 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: OKX is 0.020% cheaper against MEXC than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC VIRTUAL_USDT	0.7193	0.0100	pay 0.0050% / 4h	1h 53m	$17.3M	$4.1M	100x
Short	OKX VIRTUAL-USDT-SWAP	0.7193	0.0100	get 0.0050% / 4h	1h 53m	$2.9M	$9.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.020%: −$2
Slippage, 4 orders: −$24.39
Fee MEXC: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$36.39
Costs to cover: 0.344%
Break-even: never at this rate

Slippage from MEXC: live order book, just now; OKX: live order book, 5 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, just now	0.69 bp	3.8 bp −$4	8.7 bp −$87	72.5 bp −$7,251	235.4 bp −$117.7K
Sell OKX live order book, 5 min ago	0.70 bp	14.9 bp −$15	40.5 bp −$405	doesn't fit	doesn't fit

VIRTUAL on 32 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	0.7180	−0.177%	$24	—	10x	as long as short
ApeX Omni VIRTUALUSDT	−0.0106%	1h	0.7168	−0.348%	$40K	$240K	50x	as long as short
Lighter VIRTUAL	−0.0096%	1h	0.7188	−0.075%	$326K	$413K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0032%	1h	0.7179	−0.195%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	0.0000%	1h	0.7191	−0.028%	$11K	$37K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7192	−0.014%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7193	+0.005%	$4K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.057%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7193	0.000%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7190	−0.040%	$8.8M	$4.1M	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7186	−0.097%	$97K	$291K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7179	−0.195%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7191	−0.023%	$16.5M	$40.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7192	−0.014%	$16.6M	$18.1M	50x	as long as short
OKX VIRTUAL-USDT-SWAPshort	+0.0100%	4h	0.7193	0.000%	$2.9M	$9.8M	20x
Gate VIRTUAL_USDT	+0.0100%	4h	0.7192	−0.014%	$1.4M	$3.2M	75x	as long as short
MEXC VIRTUAL_USDTlong	+0.0100%	4h	0.7193	long leg	$17.3M	$4.1M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7189	−0.056%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7201	+0.111%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7199	+0.083%	—	$8.0M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7195	+0.028%	$240K	$160K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7220	+0.380%	$535K	$908K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7184	−0.124%	$19K	$259K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7189	−0.059%	$637K	$870K	10x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7186	−0.099%	$52K	$999K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7194	+0.014%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7191	−0.021%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7192	−0.014%	$54K	$275K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7193	−0.001%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7192	−0.015%	$30K	—	100x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7209	+0.222%	$188K	$83K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0909%	1h	0.7203	+0.142%	$598K	$688K	50x	as long as short