Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: KuCoin against Aevo+0.329%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.329% dearer against Aevo than usual: you sell high and buy low, +$33 on $10k if it 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	Aevo VIRTUAL-PERP	0.7329	0.0104	pay 0.0013% / 1h	16m 53s	$18K	—	3x
Short	KuCoin VIRTUALUSDTM	0.7353	0.0100	get 0.0050% / 4h	3h 16m	$4.4M	$4.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Aevo. 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 AevobpFee KuCoinbpOrdersPrice spread, now +0.329%Rate

Funding earned: −$0.84
Price spread: +0.329% → 0.000%: $32.9
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $4.06
Costs to cover: 0.280%
Break-even: from the start

Slippage unknown: Aevo: no order-book sample; KuCoin: 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 Aevo no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 1 min ago	3.41 bp	26.5 bp −$26	68.0 bp −$680	doesn't fit	doesn't fit

Aevo: 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 VIRTUALRUSDPERP	−0.0139%	1h	0.7341	+0.171%	$25	—	10x	as long as short
Phoenix VIRTUAL	−0.0109%	1h	0.7292	−0.502%	$11K	$40K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0048%	1h	0.7330	+0.015%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7331	+0.029%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7335	+0.090%	$4K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.891%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7327	−0.026%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7332	+0.042%	$332K	$418K	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7340	+0.145%	$200K	$156K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7320	−0.121%	$72K	$45K	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	0.7355	+0.356%	$17.0M	$39.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7355	+0.356%	$16.7M	$17.1M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7351	+0.302%	$2.9M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7356	+0.370%	$1.5M	$3.1M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7353	+0.329%	$18.5M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTMshort	+0.0100%	4h	0.7353	+0.329%	$4.4M	$4.2M	50x
Bitget VIRTUALUSDT	+0.0100%	4h	0.7356	+0.370%	$6.3M	$5.7M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7355	+0.356%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7354	+0.343%	$249K	$164K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7286	−0.581%	$545K	$885K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7290	−0.537%	$19K	$259K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7294	−0.482%	$649K	$890K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7289	−0.544%	$41K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7333	+0.055%	$50K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7340	+0.152%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7338	+0.117%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7351	+0.307%	$55K	$277K	10x	as long as short
Aevo VIRTUAL-PERPlong	+0.0104%	1h	0.7329	long leg	$18K	—	3x
Hyperliquid VIRTUAL	+0.0217%	1h	0.7357	+0.389%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0300% / S −0.0228%	1h	0.7334	+0.067%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7349	+0.274%	$836K	$846K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7313	−0.217%	$198K	$92K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0736%	1h	0.7350	+0.291%	$610K	$645K	50x	as long as short