Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.018%

Price spread now: Variational Omni against MEXC−0.287%7-day average −0.013% · you buy dearer than you sell

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

Long on MEXC Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.049%−$5 on $10k

Price spread, last 3 days (all we have)+0.365%+$37 · spread now −0.287%, 7d avg −0.013%

Together, before fees+0.316%+ Points / potential airdropVariational Omni: Active · farm board+$32 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: Variational Omni is 0.274% cheaper against MEXC than usual: you would sell low and buy high, −$27 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC VIRTUAL_USDT	0.7390	0.0100	pay 0.0050% / 4h	3h 09m	$18.6M	$4.2M	100x
Short	Variational Omni VIRTUAL	0.7369	0.0100	get 0.0050% / 4h	3h 09m	$552K	$885K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against MEXC. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.287%Rate

Funding earned: $0
Price spread: −0.287% → −0.013%: −$27.43
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$27.43
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 4 min ago; Variational Omni: RFQ quote, 65 min ago. 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 MEXC live order book, 4 min ago	1.35 bp	3.5 bp −$3	7.1 bp −$71	82.3 bp −$8,229	256.8 bp −$128.4K
Sell Variational Omni RFQ quote, 65 min ago	3.43 bp	doesn't fit	18.5 bp −$185	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	0.7394	+0.059%	$25	—	10x	as long as short
Phoenix VIRTUAL	−0.0109%	1h	0.7384	−0.077%	$12K	$40K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0048%	1h	0.7393	+0.041%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7388	−0.027%	$16K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7407	+0.228%	$4K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−3.694%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7406	+0.217%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7387	−0.045%	$334K	$420K	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7400	+0.135%	$202K	$162K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7392	+0.023%	$73K	$44K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VIRTUALUSDT	+0.0100%	4h	0.7408	+0.237%	$17.3M	$39.8M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7406	+0.217%	$16.8M	$17.2M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7403	+0.176%	$3.0M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7406	+0.217%	$1.5M	$3.1M	75x	as long as short
MEXC VIRTUAL_USDTlong	+0.0100%	4h	0.7390	long leg	$18.6M	$4.2M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7399	+0.122%	$4.4M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7401	+0.149%	$6.4M	$5.7M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7407	+0.230%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7391	+0.014%	$251K	$165K	10x	as long as short
Variational Omni VIRTUALshort	+0.0100%	4h	0.7369	−0.287%	$552K	$885K	—
edgeX VIRTUALUSDC	+0.0100%	4h	0.7368	−0.301%	$19K	$259K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7375	−0.204%	$656K	$890K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7372	−0.244%	$41K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7401	+0.143%	$51K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7384	−0.081%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7382	−0.114%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7398	+0.106%	$55K	$277K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7384	−0.080%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0205%	1h	0.7405	+0.196%	$9.2M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0301% / S −0.0228%	1h	0.7388	−0.032%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7376	−0.189%	$830K	$859K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7390	0.000%	$201K	$93K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0732%	1h	0.7390	−0.005%	$612K	$651K	50x	as long as short