Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0135%/8hpaid last 24h +0.087%

Price spread now: MEXC against Deribit0.000%52s7-day average — · you sell dearer than you buy

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

Long on Deribit Short on MEXC

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—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$4 a day on $10k at the current rate. The two prices were read 52 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	Deribit VIRTUAL_USDC-PERPETUAL	0.7013	−0.0035	get 0.0004% / 1h	6m 24s	$15K	$40K	10x
Short	MEXC VIRTUAL_USDT	0.7013	0.0100	get 0.0050% / 4h	6m 24s	$16.3M	$3.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now 0.000%Rate

Funding earned: $28.37
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee MEXC: 0 bp × 2 orders: $0
Net: $21.37
Costs to cover: 0.070%
Break-even: 1.7 days

Slippage unknown: Deribit: no order-book sample; MEXC: 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 MEXC live order book, 2 min ago	1.43 bp	3.5 bp −$4	8.2 bp −$82	79.4 bp −$7,942	261.3 bp −$130.6K

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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7013	+0.006%	$23	—	10x	as long as short
Variational Omni VIRTUAL	−0.0122%	4h	0.7010	−0.043%	$508K	$867K	—	as long as short
01 Exchange VIRTUALUSD	−0.0120%	1h	0.7015	+0.029%	$2K	$131	10x	as long as short
Injective VIRTUAL/USDC PERP	−0.0086%	1h	0.7011	−0.029%	$45	$64K	5.5x	as long as short
Phoenix VIRTUAL	−0.0080%	1h	0.7013	−0.003%	$11K	$45K	5x	as long as short
Lighter VIRTUAL	−0.0040%	1h	0.7010	−0.044%	$319K	$390K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUALlong	−0.0035%	1h	0.7013	long leg	$15K	$40K	10x
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7016	+0.037%	$12K	—	150x	as long as short
Bybit VIRTUALUSDT	+0.0023%	4h	0.7014	+0.014%	$15.2M	$15.2M	50x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0068%	4h	0.7014	+0.014%	$14K	$1.5M	10x	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	0.7024	+0.151%	$8.6M	$3.6M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7020	+0.099%	$191K	$77K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7017	+0.053%	$72K	$42K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7016	+0.042%	$16.0M	$35.9M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7014	+0.014%	$2.7M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7015	+0.029%	$1.4M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDTshort	+0.0100%	4h	0.7013	0.000%	$16.3M	$3.9M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7014	+0.014%	$3.0M	$4.0M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7018	+0.071%	$6.0M	$5.2M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7013	0.000%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7015	+0.029%	$230K	$163K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7014	+0.019%	$18K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7013	0.000%	$622K	$929K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7019	+0.086%	$40K	$241K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7019	+0.090%	$33K	$763K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7012	−0.014%	$2K	$1.2M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7010	−0.036%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7012	−0.015%	$55K	$243K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7017	+0.051%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0295% / S −0.0228%	1h	0.7015	+0.030%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7009	−0.057%	$811K	$732K	75x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0389%	1h	0.7023	+0.150%	$511K	$494K	50x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7040	+0.385%	$191K	$106K	50x	as long as short