Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.014%

Price spread now: edgeX against Polymarket Perps+0.035%7-day average −0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$340.343% of the position

Long on Polymarket Perps Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.231%+$23 on $10k

Price spread, last 4 days (all we have)−0.217%−$22 · spread now +0.035%, 7d avg −0.056%

Together, before fees+0.015%+ Points / potential airdropedgeX: Active · farm board+$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: edgeX is 0.091% dearer against Polymarket Perps than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps VIRTUAL-USD	0.7111	0.0100	pay 0.0013% / 1h	40m 36s	$54K	$1.0M	5x
Short	edgeX VIRTUALUSDC	0.7113	0.0100	get 0.0050% / 4h	40m 36s	$19K	$259K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Polymarket Perps. 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 Polymarket PerpsbpFee edgeXbpOrdersPrice spread, now +0.035%Rate

Funding earned: $0
Price spread: +0.035% → −0.056%: $9.06
Slippage, 4 orders: −$17.29
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$25.23
Costs to cover: 0.343%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 2 min ago; edgeX: live order book, 17 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 Polymarket Perps live order book, 2 min ago	3.94 bp	7.9 bp −$8	8.0 bp −$80	doesn't fit	doesn't fit
Sell edgeX live order book, 17 min ago	3.50 bp	9.3 bp −$9	33.8 bp −$338	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	−0.0172%	1h	0.7112	+0.018%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7105	−0.083%	$24	—	10x	as long as short
Lighter VIRTUAL	−0.0136%	1h	0.7118	+0.101%	$324K	$415K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0120%	1h	0.7121	+0.145%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7109	−0.025%	$11K	$37K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7112	+0.020%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	+0.089%	$46	$88K	5.5x	as long as short
SoDEX VIRTUAL-USD	+0.0072%	1h	0.7109	−0.017%	$1K	$9K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0087%	4h	0.7111	+0.004%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7136	+0.360%	$8.7M	$4.1M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7123	+0.173%	$96K	$292K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7126	+0.210%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7124	+0.191%	$16.1M	$40.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7122	+0.159%	$16.4M	$18.4M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7126	+0.215%	$2.8M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7120	+0.131%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7124	+0.187%	$17.4M	$4.4M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7121	+0.145%	$2.9M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7123	+0.173%	$6.1M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7119	+0.117%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7116	+0.075%	$236K	$209K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7104	−0.099%	$531K	$913K	—	as long as short
edgeX VIRTUALUSDCshort	+0.0100%	4h	0.7113	+0.035%	$19K	$259K	10x
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7105	−0.084%	$630K	$868K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7099	−0.165%	$40K	$239K	50x	as long as short
Polymarket Perps VIRTUAL-USDlong	+0.0100%	1h	0.7111	long leg	$54K	$1.0M	5x
SunX VIRTUAL-USDT	+0.0100%	4h	0.7109	−0.024%	$2K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7121	+0.147%	$55K	$267K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7109	−0.029%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0298% / S −0.0228%	1h	0.7110	−0.009%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7114	+0.046%	$800K	$890K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0416%	1h	0.7179	+0.961%	$207K	$98K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0806%	1h	0.7121	+0.152%	$590K	$665K	50x	as long as short