Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0267%/8h= +29.2% APRpaid last 24h +0.081%

Price spread now: edgeX against Deribit−0.167%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

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

Funding pays, the price is against you. edgeX is 0.167% cheaper against Deribit than usual: you would sell low and buy high (spread −0.167% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 2.1 days of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit VIRTUAL_USDC-PERPETUAL	0.7194	−0.0167	get 0.0021% / 1h	20m 33s	$15K	$40K	10x
Short	edgeX VIRTUALUSDC	0.7182	0.0100	get 0.0050% / 4h	2h 20m	$19K	$256K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Deribit. 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 DeribitbpFee edgeXbpOrdersPrice spread, now −0.167%Rate

Funding earned: $56.04
Price spread: −0.167% → 0.000%: −$16.72
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $23.32
Costs to cover: 0.160%
Break-even: 4.1 days

Slippage unknown: Deribit: no order-book sample; edgeX: live order book, 2 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell edgeX live order book, 2 min ago	2.78 bp	8.1 bp −$8	21.0 bp −$210	doesn't fit	doesn't fit

Deribit: 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
Deribit VIRTUAL_USDC-PERPETUALlong	−0.0167%	1h	0.7194	long leg	$15K	$40K	10x
Injective VIRTUAL/USDC PERP	−0.0160%	1h	0.7117	−1.070%	$46	$88K	5.5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7190	−0.057%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7187	−0.101%	$11K	$45K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0096%	1h	0.7191	−0.042%	$2K	$131	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7194	+0.003%	$13K	—	150x	as long as short
Variational Omni VIRTUAL	+0.0037%	4h	0.7192	−0.031%	$527K	$878K	—	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0082%	4h	0.7194	0.000%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7189	−0.074%	$327K	$391K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7202	+0.106%	$8.8M	$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	0.7197	+0.044%	$195K	$82K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7196	+0.031%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7192	−0.027%	$16.4M	$37.1M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7192	−0.028%	$15.6M	$15.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7189	−0.070%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7195	+0.014%	$1.5M	$2.9M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7194	0.000%	$17.2M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7196	+0.028%	$3.1M	$3.9M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7196	+0.028%	$6.2M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7192	−0.028%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7198	+0.056%	$236K	$159K	10x	as long as short
edgeX VIRTUALUSDCshort	+0.0100%	4h	0.7182	−0.167%	$19K	$256K	10x
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7182	−0.167%	$636K	$974K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7183	−0.153%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7203	+0.120%	$38K	$798K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7195	+0.014%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7193	−0.014%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7189	−0.068%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7193	−0.008%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0298% / S −0.0228%	1h	0.7195	+0.018%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7193	−0.014%	$817K	$804K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7203	+0.125%	$196K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0523%	1h	0.7204	+0.145%	$538K	$543K	50x	as long as short