Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8hpaid last 24h −0.014%

Price spread now: Polymarket Perps against MEXC+0.026%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$210.206% of the position

Long on MEXC Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.234%−$23 on $10k

Price spread, last 3 days (all we have)+1.023%+$102 · spread now +0.026%, 7d avg +0.030%

Together, before fees+0.789%+$79 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC VIRTUAL_USDT	0.7014	0.0100	pay 0.0050% / 4h	6m 51s	$16.3M	$3.9M	100x
Short	Polymarket Perps VIRTUAL-USD	0.7016	0.0100	get 0.0013% / 1h	6m 51s	$33K	$763K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.026%Rate

Funding earned: $0
Price spread: +0.026% → +0.030%: −$0.44
Slippage, 4 orders: −$12.62
Fee MEXC: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$21.05
Costs to cover: 0.206%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Polymarket Perps: live order book, 25 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, 1 min ago	1.43 bp	2.7 bp −$3	8.8 bp −$88	87.6 bp −$8,756	259.4 bp −$129.7K
Sell Polymarket Perps live order book, 25 min ago	2.35 bp	7.0 bp −$7	7.1 bp −$71	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	0.7011	−0.040%	$23	—	10x	as long as short
Variational Omni VIRTUAL	−0.0122%	4h	0.7010	−0.058%	$508K	$867K	—	as long as short
01 Exchange VIRTUALUSD	−0.0120%	1h	0.7011	−0.043%	$2K	$131	10x	as long as short
Injective VIRTUAL/USDC PERP	−0.0086%	1h	0.7011	−0.043%	$45	$64K	5.5x	as long as short
Phoenix VIRTUAL	−0.0080%	1h	0.7013	−0.017%	$11K	$45K	5x	as long as short
Lighter VIRTUAL	−0.0040%	1h	0.7007	−0.093%	$318K	$390K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0035%	1h	0.7013	−0.014%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7016	+0.022%	$12K	—	150x	as long as short
Bybit VIRTUALUSDT	+0.0016%	4h	0.7016	+0.029%	$15.2M	$15.2M	50x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0068%	4h	0.7014	0.000%	$14K	$1.5M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VIRTUAL	+0.0100%	1h	0.7025	+0.150%	$8.6M	$3.6M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7015	+0.016%	$191K	$77K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7014	−0.003%	$72K	$42K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7018	+0.057%	$16.0M	$35.9M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7016	+0.029%	$2.7M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7016	+0.029%	$1.4M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDTlong	+0.0100%	4h	0.7014	long leg	$16.3M	$3.9M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7012	−0.029%	$3.0M	$4.0M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7018	+0.057%	$6.0M	$5.2M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7019	+0.071%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7015	+0.014%	$230K	$163K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7014	+0.004%	$18K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7013	−0.014%	$622K	$929K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7019	+0.071%	$40K	$241K	50x	as long as short
Polymarket Perps VIRTUAL-USDshort	+0.0100%	1h	0.7016	+0.026%	$33K	$763K	5x
SunX VIRTUAL-USDT	+0.0100%	4h	0.7012	−0.029%	$2K	$1.2M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7010	−0.050%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7016	+0.025%	$55K	$243K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7017	+0.037%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0295% / S −0.0228%	1h	0.7015	+0.016%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7009	−0.071%	$811K	$732K	75x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0389%	1h	0.7023	+0.135%	$511K	$494K	50x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7040	+0.371%	$191K	$106K	50x	as long as short