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 −0.002%

Price spread now: Bybit against edgeX−0.808%81s7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as 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−$450.454% of the position

Long on edgeX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 4 days (all we have)+0.621%+$62 · spread now −0.808%, 7d avg −0.007%

Together, before fees+0.609%+ Points / potential airdropedgeX: Active · farm board+$61 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: Bybit is 0.802% cheaper against edgeX than usual: you would sell low and buy high, −$80 on $10k if it goes back to its 7-day average of −0.007%. The two prices were read 81 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	edgeX VIRTUALUSDC	0.7153	0.0100	pay 0.0050% / 4h	48m 07s	$19K	$260K	10x
Short	Bybit VIRTUALUSDT	0.7095	0.0100	get 0.0050% / 4h	48m 07s	$16.3M	$18.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against edgeX. 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 edgeXbpFee BybitbpOrdersPrice spread, now −0.808%Rate

Funding earned: $0
Price spread: −0.808% → −0.007%: −$80.16
Slippage, 4 orders: −$25.37
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$125.53
Costs to cover: 0.454%
Break-even: never at this rate

Slippage from edgeX: live order book, 9 min ago; Bybit: live order book, just now.

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 edgeX live order book, 9 min ago	3.50 bp	9.1 bp −$9	32.1 bp −$321	doesn't fit	doesn't fit
Sell Bybit live order book, just now	1.41 bp	16.5 bp −$17	27.2 bp −$272	138.7 bp −$13.9K	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	−0.0313%	1h	0.7098	−0.766%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7099	−0.755%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0112%	1h	0.7099	−0.752%	$2K	$131	10x	as long as short
Lighter VIRTUAL	−0.0088%	1h	0.7093	−0.843%	$323K	$414K	5x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7137	−0.225%	$11K	$37K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7103	−0.694%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.501%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7098	−0.766%	$14K	$1.5M	10x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7094	−0.825%	$1K	$9K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7106	−0.653%	$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	0.7106	−0.658%	$96K	$292K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7106	−0.659%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7095	−0.808%	$16.1M	$40.5M	75x	as long as short
Bybit VIRTUALUSDTshort	+0.0100%	4h	0.7095	−0.808%	$16.3M	$18.4M	50x
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7097	−0.780%	$2.8M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7100	−0.738%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7098	−0.766%	$17.6M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7099	−0.752%	$2.9M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7097	−0.780%	$6.1M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7102	−0.710%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7100	−0.738%	$238K	$207K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7124	−0.406%	$531K	$909K	—	as long as short
edgeX VIRTUALUSDClong	+0.0100%	4h	0.7153	long leg	$19K	$260K	10x
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7148	−0.074%	$634K	$868K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7130	−0.319%	$40K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7108	−0.621%	$68K	$1.0M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7096	−0.794%	$2K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7093	−0.831%	$55K	$267K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7098	−0.771%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0315% / S −0.0266%	1h	0.7101	−0.720%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7102	−0.710%	$800K	$887K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0416%	1h	0.7179	+0.366%	$207K	$98K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0807%	1h	0.7106	−0.656%	$589K	$665K	50x	as long as short