Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0239%/8h= +26.2% APRpaid last 24h +0.072%

Price spread now: MEXC against Reya+0.072%7-day average — · you sell dearer than you buy

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

Long on Reya Short on MEXC

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 airdropReya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and MEXC is 0.072% dearer against Reya than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya VIRTUALRUSDPERP	0.7158	−0.0139	get 0.0017% / 1h	17m 27s	$24	—	10x
Short	MEXC VIRTUAL_USDT	0.7163	0.0100	get 0.0050% / 4h	17m 27s	$17.4M	$4.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Reya. 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 ReyabpFee MEXCbpOrdersPrice spread, now +0.072%Rate

Funding earned: $50.2
Price spread: +0.072% → 0.000%: $7.2
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee MEXC: 0 bp × 2 orders: $0
Net: $51.4
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; MEXC: live order book, 1 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 Reya no order-book sample	—	—	—	—	—
Sell MEXC live order book, 1 min ago	0.70 bp	1.8 bp −$2	8.7 bp −$87	67.9 bp −$6,789	259.0 bp −$129.5K

Reya: 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
Reya VIRTUALRUSDPERPlong	−0.0139%	1h	0.7158	long leg	$24	—	10x
01 Exchange VIRTUALUSD	−0.0088%	1h	0.7158	+0.002%	$2K	$131	10x	as long as short
Lighter VIRTUAL	−0.0080%	1h	0.7147	−0.146%	$325K	$415K	5x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7161	+0.047%	$11K	$37K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0030%	1h	0.7143	−0.207%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7143	−0.204%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.571%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7142	−0.221%	$14K	$1.4M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7161	+0.047%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7152	−0.076%	$96K	$293K	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	0.7156	−0.024%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7159	+0.016%	$16.2M	$40.7M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7156	−0.026%	$16.5M	$18.4M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7159	+0.016%	$2.8M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7151	−0.096%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDTshort	+0.0100%	4h	0.7163	+0.072%	$17.4M	$4.5M	100x
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7154	−0.054%	$2.9M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7158	+0.002%	$6.1M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7154	−0.054%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7149	−0.124%	$239K	$209K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7150	−0.107%	$535K	$913K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7150	−0.114%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7144	−0.198%	$633K	$890K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7151	−0.096%	$40K	$239K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7162	+0.052%	$54K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7142	−0.221%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7143	−0.214%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7156	−0.032%	$54K	$265K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7141	−0.233%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0316% / S −0.0265%	1h	0.7142	−0.221%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7144	−0.193%	$793K	$894K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0416%	1h	0.7184	+0.365%	$201K	$105K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0802%	1h	0.7152	−0.075%	$591K	$662K	50x	as long as short