Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against edgeX+0.314%7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$460.459% of the position

Long on edgeX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 4 days (all we have)−0.701%−$70 · spread now +0.314%, 7d avg −0.016%

Together, before fees−0.693%+ Points / potential airdropedgeX: Active · Extended: Active · farm board−$69 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: Extended is 0.330% dearer against edgeX than usual: you sell high and buy low, +$33 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX VIRTUALUSDC	0.7185	0.0100	pay 0.0050% / 4h	1h 35m	$19K	$260K	10x
Short	Extended VIRTUAL-USD	0.7208	0.0104	get 0.0013% / 1h	35m 21s	$54K	$274K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.314%Rate

Funding earned: $0.84
Price spread: +0.314% → −0.016%: $32.98
Slippage, 4 orders: −$31.88
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$12.06
Costs to cover: 0.459%
Break-even: 107.5 days

Slippage from edgeX: live order book, 27 min ago; Extended: live order book, 27 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 edgeX live order book, 27 min ago	2.77 bp	8.3 bp −$8	28.7 bp −$287	doesn't fit	doesn't fit
Sell Extended live order book, 27 min ago	1.94 bp	14.6 bp −$15	201.8 bp −$2,018	doesn't fit	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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7215	+0.415%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0064%	1h	0.7211	+0.356%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	0.0000%	1h	0.7179	−0.083%	$11K	$37K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7218	+0.453%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7218	+0.454%	$4K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.953%	$46	$88K	5.5x	as long as short
Lighter VIRTUAL	+0.0088%	1h	0.7202	+0.230%	$327K	$413K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7217	+0.439%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7227	+0.571%	$8.9M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7211	+0.350%	$98K	$291K	20x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7206	+0.282%	$71K	$42K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7217	+0.439%	$16.5M	$40.4M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7218	+0.453%	$16.7M	$18.1M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7218	+0.453%	$2.9M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7211	+0.356%	$1.4M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7213	+0.383%	$17.4M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7211	+0.356%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7219	+0.467%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7217	+0.439%	—	$8.0M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7214	+0.397%	$241K	$160K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7208	+0.315%	$536K	$909K	—	as long as short
edgeX VIRTUALUSDClong	+0.0100%	4h	0.7185	long leg	$19K	$260K	10x
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7191	+0.076%	$638K	$859K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7185	−0.006%	$41K	$239K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7221	+0.489%	$52K	$993K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7212	+0.369%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7212	+0.369%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USDshort	+0.0104%	1h	0.7208	+0.314%	$54K	$274K	10x
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7216	+0.426%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7218	+0.455%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7193	+0.105%	$809K	$846K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7204	+0.258%	$188K	$79K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0906%	1h	0.7223	+0.529%	$600K	$662K	50x	as long as short