Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0046%/8h= −5.1% APRpaid last 24h −0.007%

Price spread now: SoDEX against edgeX−0.146%75s7-day average — · you buy dearer than you sell

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

Long on edgeX Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and SoDEX is 0.146% cheaper against edgeX than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 75 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 27m	$19K	$262K	10x
Short	SoDEX VIRTUAL-USD	0.7188	0.0054	get 0.0007% / 1h	27m 56s	$1K	$9K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.146%Rate

Funding earned: −$9.71
Price spread: −0.146% → 0.000%: −$14.57
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$41.27
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 25 min ago; SoDEX: no order-book sample. 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 edgeX live order book, 25 min ago	2.77 bp	8.3 bp −$8	24.3 bp −$243	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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-PERPETUAL	−0.0724%	1h	0.7180	−0.250%	$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	0.7178	−0.283%	$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	0.7185	−0.183%	$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
SoDEX VIRTUAL-USDshort	+0.0054%	1h	0.7188	−0.146%	$1K	$9K	5x
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7180	−0.250%	$14K	$1.4M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7190	−0.111%	$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	0.7178	−0.282%	$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	0.7177	−0.292%	$16.2M	$41.0M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7174	−0.333%	$16.6M	$18.6M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7179	−0.264%	$2.9M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7185	−0.180%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7176	−0.305%	$16.4M	$4.7M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7179	−0.264%	$3.0M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7181	−0.236%	$6.2M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7177	−0.292%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7183	−0.208%	$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	0.7180	−0.250%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7175	−0.324%	$57K	$267K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7179	−0.257%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7184	−0.197%	$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	+0.0487%	1h	0.7191	−0.102%	$589K	$665K	50x	as long as short