Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: KuCoin against ApeX Omni−0.382%52s7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$670.673% of the position

Long on ApeX Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$2 on $10k

Price spread, last 3 days (all we have)+0.318%+$32 · spread now −0.382%, 7d avg −0.016%

Together, before fees+0.303%+$30 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: KuCoin is 0.366% cheaper against ApeX Omni than usual: you would sell low and buy high, −$37 on $10k if it goes back to its 7-day average of −0.016%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni VIRTUALUSDT	0.7330	0.0100	pay 0.0013% / 1h	38m 42s	$40K	$243K	50x
Short	KuCoin VIRTUALUSDTM	0.7302	0.0100	get 0.0050% / 4h	3h 38m	$4.3M	$4.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against ApeX Omni. 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 ApeX OmnibpFee KuCoinbpOrdersPrice spread, now −0.382%Rate

Funding earned: $0
Price spread: −0.382% → −0.016%: −$36.57
Slippage, 4 orders: −$45.3
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$103.86
Costs to cover: 0.673%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 33 min ago; KuCoin: live order book, 9 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 ApeX Omni live order book, 33 min ago	6.88 bp	14.0 bp −$14	102.5 bp −$1,025	doesn't fit	doesn't fit
Sell KuCoin live order book, 9 min ago	3.42 bp	16.2 bp −$16	49.4 bp −$494	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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0298%	1h	0.7302	−0.382%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7308	−0.295%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0109%	1h	0.7327	−0.042%	$12K	$40K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0088%	1h	0.7308	−0.300%	$2K	$131	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7311	−0.258%	$9K	—	150x	as long as short
Lighter VIRTUAL	+0.0024%	1h	0.7295	−0.480%	$331K	$417K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.906%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0088%	4h	0.7307	−0.314%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7309	−0.287%	$199K	$157K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7305	−0.336%	$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	0.7303	−0.368%	$16.9M	$39.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7301	−0.396%	$16.4M	$16.9M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7299	−0.423%	$2.9M	$9.6M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7302	−0.382%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7304	−0.355%	$18.4M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTMshort	+0.0100%	4h	0.7302	−0.382%	$4.3M	$4.2M	50x
Bitget VIRTUALUSDT	+0.0100%	4h	0.7308	−0.300%	$6.3M	$5.6M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7300	−0.409%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7302	−0.382%	$248K	$166K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7333	+0.046%	$548K	$885K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7329	−0.020%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7318	−0.169%	$650K	$916K	10x	as long as short
ApeX Omni VIRTUALUSDTlong	+0.0100%	1h	0.7330	long leg	$40K	$243K	50x
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7316	−0.196%	$44K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7310	−0.273%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7299	−0.416%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7300	−0.413%	$58K	$249K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7299	−0.417%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0132%	1h	0.7312	−0.243%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0300% / S −0.0228%	1h	0.7308	−0.299%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7307	−0.314%	$831K	$842K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7366	+0.491%	$200K	$92K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0740%	1h	0.7315	−0.204%	$604K	$634K	50x	as long as short