Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: MEXC against ApeX Omni−0.181%51s7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$350.347% of the position

Long on ApeX Omni Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 3 days (all we have)−0.103%−$10 · spread now −0.181%, 7d avg −0.042%

Together, before fees−0.107%−$11 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 0.139% cheaper against ApeX Omni than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.042%. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni VIRTUALUSDT	0.7177	0.0100	pay 0.0013% / 1h	6m 36s	$40K	$246K	50x
Short	MEXC VIRTUAL_USDT	0.7164	0.0100	get 0.0050% / 4h	2h 06m	$17.3M	$4.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against ApeX Omni. 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 ApeX OmnibpFee MEXCbpOrdersPrice spread, now −0.181%Rate

Funding earned: $0
Price spread: −0.181% → −0.042%: −$13.93
Slippage, 4 orders: −$24.69
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$48.61
Costs to cover: 0.347%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 15 min ago; MEXC: live order book, 2 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 ApeX Omni live order book, 15 min ago	6.95 bp	14.9 bp −$15	105.5 bp −$1,055	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	0.70 bp	2.4 bp −$2	7.1 bp −$71	65.4 bp −$6,543	253.2 bp −$126.6K

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	−0.0307%	1h	0.7172	−0.070%	$15K	$40K	10x	as long as short
Injective VIRTUAL/USDC PERP	−0.0160%	1h	0.7117	−0.836%	$46	$88K	5.5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7169	−0.110%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7176	−0.011%	$11K	$45K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0088%	1h	0.7161	−0.223%	$2K	$131	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7174	−0.041%	$12K	—	150x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0085%	4h	0.7173	−0.056%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0088%	1h	0.7162	−0.213%	$326K	$391K	5x	as long as short
Variational Omni VIRTUAL	+0.0094%	4h	0.7166	−0.148%	$526K	$878K	—	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7172	−0.065%	$8.7M	$3.7M	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	0.7170	−0.097%	$195K	$82K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7169	−0.115%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7161	−0.223%	$16.4M	$37.3M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7160	−0.237%	$15.5M	$15.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7162	−0.209%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7168	−0.125%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDTshort	+0.0100%	4h	0.7164	−0.181%	$17.3M	$4.2M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7171	−0.084%	$4.4M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7172	−0.070%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7166	−0.153%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7172	−0.070%	$236K	$159K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7169	−0.111%	$19K	$256K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7170	−0.098%	$635K	$965K	10x	as long as short
ApeX Omni VIRTUALUSDTlong	+0.0100%	1h	0.7177	long leg	$40K	$246K	50x
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7178	+0.015%	$27K	$815K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7173	−0.056%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7167	−0.132%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7160	−0.232%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7174	−0.046%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0297% / S −0.0228%	1h	0.7174	−0.043%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7165	−0.167%	$816K	$794K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7203	+0.362%	$196K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0524%	1h	0.7181	+0.058%	$537K	$544K	50x	as long as short