Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against OKX+0.014%7-day average −0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on OKX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 7 days−0.042%−$4 · spread now +0.014%, 7d avg −0.020%

Together, before fees−0.025%−$3 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: MEXC is 0.034% dearer against OKX than usual: you sell high and buy low, +$3 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	OKX VIRTUAL-USDT-SWAP	0.7026	0.0100	pay 0.0050% / 4h	2h 27m	$2.8M	$9.7M	20x
Short	MEXC VIRTUAL_USDT	0.7027	0.0100	get 0.0050% / 4h	2h 27m	$15.1M	$4.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against OKX. 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 OKXbpFee MEXCbpOrdersPrice spread, now +0.014%Rate

Funding earned: $0
Price spread: +0.014% → −0.020%: $3.45
Slippage, 4 orders: −$20.83
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$27.38
Costs to cover: 0.308%
Break-even: never at this rate

Slippage from OKX: live order book, 6 min ago; MEXC: live order book, 1 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 OKX live order book, 6 min ago	0.71 bp	12.5 bp −$12	36.9 bp −$369	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.71 bp	0.7 bp −$1	7.7 bp −$77	66.5 bp −$6,652	254.8 bp −$127.4K

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	−0.0177%	1h	0.7024	−0.028%	$15K	$40K	10x	as long as short
01 Exchange VIRTUALUSD	−0.0144%	1h	0.7022	−0.057%	$2K	$106	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7024	−0.033%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7053	+0.383%	$11K	$36K	5x	as long as short
Lighter VIRTUAL	−0.0048%	1h	0.7023	−0.037%	$319K	$403K	5x	as long as short
Bybit VIRTUALUSDT	−0.0013%	4h	0.7020	−0.085%	$16.1M	$18.9M	50x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7024	−0.035%	$13K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	+1.295%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0075%	4h	0.7021	−0.071%	$14K	$1.4M	10x	as long as short
SoDEX VIRTUAL-USD	+0.0093%	1h	0.7024	−0.036%	$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
Hyperliquid VIRTUAL	+0.0100%	1h	0.7036	+0.137%	$8.6M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7029	+0.037%	$91K	$299K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7029	+0.044%	$69K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7029	+0.043%	$15.8M	$41.8M	75x	as long as short
OKX VIRTUAL-USDT-SWAPlong	+0.0100%	4h	0.7026	long leg	$2.8M	$9.7M	20x
Gate VIRTUAL_USDT	+0.0100%	4h	0.7027	+0.014%	$1.5M	$3.4M	75x	as long as short
MEXC VIRTUAL_USDTshort	+0.0100%	4h	0.7027	+0.014%	$15.1M	$4.9M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7029	+0.043%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7027	+0.014%	$6.0M	$5.9M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7026	0.000%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7031	+0.071%	$235K	$207K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7036	+0.148%	$527K	$910K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7049	+0.328%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7032	+0.080%	$627K	$1.0M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7056	+0.427%	$40K	$238K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7029	+0.040%	$52K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7028	+0.028%	$2K	$1.4M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7024	−0.024%	$56K	$299K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7022	−0.062%	$18K	—	3x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0284%	1h	0.7030	+0.059%	$520K	$763K	50x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0297% / S −0.0228%	1h	0.7025	−0.021%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7044	+0.256%	$778K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0432%	1h	0.7162	+1.936%	$199K	$101K	50x	as long as short