Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against edgeX−0.208%68s7-day average +0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as 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−$220.225% of the position

Long on edgeX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.079%+$8 · spread now −0.208%, 7d avg +0.018%

Together, before fees+0.078%+ Points / potential airdropedgeX: Active · farm board+$8 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 0.226% cheaper against edgeX than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of +0.018%. The two prices were read 68 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	0.7198	0.0100	pay 0.0050% / 4h	3h 28m	$19K	$262K	10x
Short	MEXC VIRTUAL_USDT	0.7183	0.0100	get 0.0050% / 4h	3h 28m	$16.5M	$4.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.208%Rate

Funding earned: $0
Price spread: −0.208% → +0.018%: −$22.58
Slippage, 4 orders: −$13.48
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee MEXC: 0 bp × 2 orders: $0
Net: −$45.07
Costs to cover: 0.225%
Break-even: never at this rate

Slippage from edgeX: live order book, 24 min ago; MEXC: live order book, 5 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, 24 min ago	2.77 bp	8.3 bp −$8	24.3 bp −$243	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	1.39 bp	4.5 bp −$4	14.4 bp −$144	90.4 bp −$9,045	260.2 bp −$130.1K

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	−0.0445%	1h	0.7190	−0.111%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7180	−0.251%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0120%	1h	0.7171	−0.375%	$2K	$106	10x	as long as short
Lighter VIRTUAL	−0.0112%	1h	0.7181	−0.229%	$327K	$406K	5x	as long as short
Phoenix VIRTUAL	−0.0022%	1h	0.7210	+0.166%	$11K	$37K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7195	−0.043%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.125%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0091%	4h	0.7192	−0.083%	$14K	$1.4M	10x	as long as short
SoDEX VIRTUAL-USD	+0.0093%	1h	0.7191	−0.100%	$1K	$9K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7193	−0.071%	$8.8M	$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	0.7190	−0.104%	$94K	$294K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7191	−0.097%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7183	−0.208%	$16.3M	$41.0M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7179	−0.264%	$16.6M	$18.6M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7183	−0.208%	$2.9M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7192	−0.083%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDTshort	+0.0100%	4h	0.7183	−0.208%	$16.5M	$4.7M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7189	−0.125%	$3.0M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7187	−0.153%	$6.2M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7189	−0.125%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7192	−0.083%	$241K	$213K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7208	+0.135%	$539K	$913K	—	as long as short
edgeX VIRTUALUSDClong	+0.0100%	4h	0.7198	long leg	$19K	$262K	10x
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7206	+0.117%	$640K	$941K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7210	+0.167%	$41K	$238K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7185	−0.183%	$54K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7188	−0.139%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7183	−0.206%	$57K	$267K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7189	−0.125%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7194	−0.056%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7185	−0.180%	$800K	$952K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7214	+0.222%	$201K	$104K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0486%	1h	0.7197	−0.017%	$590K	$665K	50x	as long as short