Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

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: Gate against MEXC+0.014%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$420.420% of the position

Long on MEXC Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 7 days+0.019%+$2 · spread now +0.014%, 7d avg +0.043%

Together, before fees+0.029%+$3 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: Gate is 0.029% cheaper against MEXC than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC VIRTUAL_USDT	0.7224	0.0100	pay 0.0050% / 4h	3h 54m	$17.2M	$4.6M	100x
Short	Gate VIRTUAL_USDT	0.7225	0.0100	get 0.0050% / 4h	3h 54m	$1.5M	$3.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against MEXC. 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 MEXCbpFee GatebpOrdersPrice spread, now +0.014%Rate

Funding earned: $0
Price spread: +0.014% → +0.043%: −$2.95
Slippage, 4 orders: −$27.03
Fee MEXC: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$44.97
Costs to cover: 0.420%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Gate: live order book, 3 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 MEXC live order book, 4 min ago	0.69 bp	2.8 bp −$3	7.0 bp −$70	67.4 bp −$6,742	254.4 bp −$127.2K
Sell Gate live order book, 3 min ago	3.47 bp	18.4 bp −$18	111.2 bp −$1,112	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	0.7218	−0.082%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0080%	1h	0.7212	−0.166%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7182	−0.584%	$11K	$37K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7219	−0.067%	$14K	—	150x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	+0.0027%	1h	0.7221	−0.042%	$15K	$40K	10x	as long as short
Lighter VIRTUAL	+0.0032%	1h	0.7221	−0.039%	$329K	$406K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.481%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0093%	4h	0.7219	−0.069%	$14K	$1.4M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7230	+0.078%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7222	−0.032%	$97K	$292K	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	0.7225	+0.020%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7225	+0.011%	$16.4M	$40.8M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7224	0.000%	$16.7M	$18.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7223	−0.014%	$2.9M	$10.0M	20x	as long as short
Gate VIRTUAL_USDTshort	+0.0100%	4h	0.7225	+0.014%	$1.5M	$3.3M	75x
MEXC VIRTUAL_USDTlong	+0.0100%	4h	0.7224	long leg	$17.2M	$4.6M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7223	−0.014%	$3.0M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7225	+0.014%	$6.2M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7224	0.000%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7229	+0.069%	$241K	$208K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7188	−0.495%	$537K	$913K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7194	−0.414%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7190	−0.467%	$642K	$913K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7196	−0.388%	$41K	$238K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7221	−0.044%	$55K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7210	−0.194%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7222	−0.021%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7219	−0.073%	$54K	$263K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7216	−0.116%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7217	−0.091%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7219	−0.069%	$802K	$911K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7210	−0.194%	$201K	$105K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0484%	1h	0.7229	+0.073%	$596K	$667K	50x	as long as short