Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0239%/8h= −26.2% APRpaid last 24h −0.072%

Price spread now: Reya against MEXC+0.016%7-day average — · you sell dearer than you buy

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

Long on MEXC Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC VIRTUAL_USDT	0.7144	0.0100	pay 0.0050% / 4h	1h 44m	$16.1M	$5.1M	100x
Short	Reya VIRTUALRUSDPERP	0.7145	−0.0139	pay 0.0017% / 1h	44m 55s	$24	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.016%Rate

Funding earned: −$50.19
Price spread: +0.016% → 0.000%: $1.59
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: −$54.6
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 4 min ago; Reya: no order-book sample. 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 MEXC live order book, 4 min ago	1.40 bp	4.3 bp −$4	8.6 bp −$86	72.4 bp −$7,241	254.4 bp −$127.2K
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Lighter VIRTUAL	−0.0184%	1h	0.7146	+0.021%	$325K	$401K	5x	as long as short
Reya VIRTUALRUSDPERPshort	−0.0139%	1h	0.7145	+0.016%	$24	—	10x
01 Exchange VIRTUALUSD	−0.0128%	1h	0.7126	−0.252%	$2K	$106	10x	as long as short
Bybit VIRTUALUSDT	−0.0105%	4h	0.7142	−0.028%	$16.2M	$19.1M	50x	as long as short
Phoenix VIRTUAL	−0.0101%	1h	0.7131	−0.185%	$11K	$36K	5x	as long as short
Kraken Futures PF_VIRTUALUSD	−0.0005%	1h	0.7158	+0.191%	$523K	$761K	50x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7153	+0.126%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7155	+0.148%	$14K	—	150x	as long as short
Variational Omni VIRTUAL	+0.0023%	4h	0.7124	−0.276%	$530K	$914K	—	as long as short
SoDEX VIRTUAL-USD	+0.0025%	1h	0.7150	+0.091%	$1K	$9K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.378%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0072%	4h	0.7151	+0.098%	$16K	$1.6M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7160	+0.231%	$8.8M	$4.0M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7149	+0.070%	$92K	$302K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7128	−0.223%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7147	+0.042%	$16.1M	$42.3M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7148	+0.056%	$2.9M	$10.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7147	+0.042%	$1.5M	$3.4M	75x	as long as short
MEXC VIRTUAL_USDTlong	+0.0100%	4h	0.7144	long leg	$16.1M	$5.1M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7150	+0.084%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7150	+0.084%	$6.0M	$5.9M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7144	0.000%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7154	+0.140%	$237K	$177K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7136	−0.108%	$19K	$262K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7131	−0.188%	$627K	$1.1M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7137	−0.098%	$40K	$236K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7147	+0.035%	$46K	$1.0M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7132	−0.168%	$1K	$1.4M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7142	−0.033%	$55K	$301K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7152	+0.111%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0313% / S −0.0258%	1h	0.7153	+0.132%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7151	+0.098%	$788K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7192	+0.672%	$200K	$102K	50x	as long as short