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

Price spread now: MEXC against BingX−0.054%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$250.252% of the position

Long on BingX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.061%−$6 on $10k

Price spread, last 7 days+0.054%+$5 · spread now −0.054%, 7d avg −0.009%

Together, before fees−0.007%−$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: MEXC is 0.045% cheaper against BingX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX VIRTUAL-USDT	0.7395	0.0100	pay 0.0050% / 4h	3h 09m	—	$8.2M	—
Short	MEXC VIRTUAL_USDT	0.7391	0.0100	get 0.0050% / 4h	3h 09m	$18.6M	$4.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against BingX. 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 BingXbpFee MEXCbpOrdersPrice spread, now −0.054%Rate

Funding earned: $0
Price spread: −0.054% → −0.009%: −$4.52
Slippage, 4 orders: −$15.17
Fee BingX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$29.7
Costs to cover: 0.252%
Break-even: never at this rate

Slippage from BingX: live order book, 13 min ago; MEXC: live order book, 4 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 BingX live order book, 13 min ago	1.37 bp	9.7 bp −$10	13.6 bp −$136	21.8 bp −$2,184	95.6 bp −$47.8K
Sell MEXC live order book, 4 min ago	1.35 bp	3.1 bp −$3	12.3 bp −$123	106.2 bp −$10.6K	271.8 bp −$135.9K

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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7387	−0.103%	$25	—	10x	as long as short
Phoenix VIRTUAL	−0.0109%	1h	0.7384	−0.145%	$12K	$40K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0048%	1h	0.7393	−0.027%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7388	−0.095%	$16K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7389	−0.080%	$4K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−3.759%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7387	−0.108%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7387	−0.112%	$334K	$420K	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7394	−0.011%	$201K	$162K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7392	−0.045%	$73K	$44K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VIRTUALUSDT	+0.0100%	4h	0.7396	+0.015%	$17.2M	$39.7M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7392	−0.041%	$16.8M	$17.1M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7393	−0.027%	$2.9M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7399	+0.054%	$1.5M	$3.1M	75x	as long as short
MEXC VIRTUAL_USDTshort	+0.0100%	4h	0.7391	−0.054%	$18.6M	$4.2M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7388	−0.095%	$4.4M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7403	+0.108%	$6.4M	$5.7M	25x	as long as short
BingX VIRTUAL-USDTlong	+0.0100%	4h	0.7395	long leg	—	$8.2M	—
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7391	−0.054%	$251K	$165K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7369	−0.355%	$552K	$885K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7368	−0.369%	$19K	$259K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7375	−0.271%	$656K	$890K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7372	−0.311%	$41K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7397	+0.020%	$51K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7384	−0.149%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7382	−0.181%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7398	+0.038%	$55K	$277K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7384	−0.148%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0206%	1h	0.7402	+0.089%	$9.2M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0301% / S −0.0228%	1h	0.7388	−0.100%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7376	−0.257%	$830K	$859K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7390	−0.068%	$201K	$93K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0732%	1h	0.7390	−0.073%	$612K	$651K	50x	as long as short