Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: MEXC against OKX−0.070%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$320.319% of the position

Long on OKX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

Price spread, last 7 days+0.059%+$6 · spread now −0.070%, 7d avg −0.021%

Together, before fees+0.078%+$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 0.049% cheaper against OKX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX VIRTUAL-USDT-SWAP	0.7169	0.0100	pay 0.0050% / 4h	2h 07m	$2.8M	$9.1M	20x
Short	MEXC VIRTUAL_USDT	0.7164	0.0100	get 0.0050% / 4h	2h 07m	$17.3M	$4.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against OKX. 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 OKXbpFee MEXCbpOrdersPrice spread, now −0.070%Rate

Funding earned: $0
Price spread: −0.070% → −0.021%: −$4.92
Slippage, 4 orders: −$21.91
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$36.84
Costs to cover: 0.319%
Break-even: never at this rate

Slippage from OKX: live order book, 6 min ago; MEXC: live order book, 1 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 OKX live order book, 6 min ago	0.70 bp	15.5 bp −$15	40.2 bp −$402	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.70 bp	2.4 bp −$2	7.1 bp −$71	65.4 bp −$6,543	253.2 bp −$126.6K

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	−0.0307%	1h	0.7172	+0.042%	$15K	$40K	10x	as long as short
Injective VIRTUAL/USDC PERP	−0.0160%	1h	0.7117	−0.725%	$46	$88K	5.5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7169	+0.001%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7176	+0.100%	$11K	$45K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0088%	1h	0.7173	+0.056%	$2K	$131	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7174	+0.071%	$12K	—	150x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0085%	4h	0.7173	+0.056%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0088%	1h	0.7170	+0.013%	$326K	$391K	5x	as long as short
Variational Omni VIRTUAL	+0.0094%	4h	0.7166	−0.036%	$526K	$878K	—	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7176	+0.098%	$8.7M	$3.7M	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	0.7179	+0.137%	$195K	$82K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7179	+0.139%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7167	−0.024%	$16.4M	$37.3M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7168	−0.014%	$15.5M	$15.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAPlong	+0.0100%	4h	0.7169	long leg	$2.8M	$9.1M	20x
Gate VIRTUAL_USDT	+0.0100%	4h	0.7176	+0.098%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDTshort	+0.0100%	4h	0.7164	−0.070%	$17.3M	$4.2M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7176	+0.098%	$4.4M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7173	+0.056%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7173	+0.056%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7172	+0.042%	$236K	$159K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7169	0.000%	$19K	$256K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7170	+0.014%	$635K	$965K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7177	+0.112%	$40K	$246K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7178	+0.127%	$27K	$815K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7173	+0.056%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7167	−0.021%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7167	−0.027%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7174	+0.066%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0297% / S −0.0228%	1h	0.7174	+0.068%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7165	−0.056%	$816K	$794K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7203	+0.474%	$196K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0524%	1h	0.7181	+0.170%	$537K	$544K	50x	as long as short