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: KuCoin against BingX−0.084%7-day average +0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$670.672% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.085%−$9 on $10k

Price spread, last 7 days+0.082%+$8 · spread now −0.084%, 7d avg +0.031%

Together, before fees−0.004%$0 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 0.115% cheaper against BingX than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX VIRTUAL-USDT	0.7106	0.0100	pay 0.0050% / 4h	2h 54m	—	$8.2M	—
Short	KuCoin VIRTUALUSDTM	0.7100	0.0100	get 0.0050% / 4h	2h 54m	$3.1M	$3.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against BingX. 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 BingXbpFee KuCoinbpOrdersPrice spread, now −0.084%Rate

Funding earned: $0
Price spread: −0.084% → +0.031%: −$11.52
Slippage, 4 orders: −$45.23
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$78.75
Costs to cover: 0.672%
Break-even: never at this rate

Slippage from BingX: live order book, 14 min ago; KuCoin: live order book, 3 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 BingX live order book, 14 min ago	1.41 bp	8.5 bp −$9	11.5 bp −$115	22.0 bp −$2,203	80.6 bp −$40.3K
Sell KuCoin live order book, 3 min ago	3.51 bp	20.6 bp −$21	53.2 bp −$532	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
Injective VIRTUAL/USDC PERP	−0.0160%	1h	0.7117	+0.155%	$46	$88K	5.5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7099	−0.103%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0096%	1h	0.7092	−0.197%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0079%	1h	0.7119	+0.179%	$11K	$45K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0031%	1h	0.7108	+0.028%	$15K	$40K	10x	as long as short
Variational Omni VIRTUAL	−0.0023%	4h	0.7121	+0.218%	$518K	$872K	—	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7107	+0.019%	$12K	—	150x	as long as short
Lighter VIRTUAL	+0.0072%	1h	0.7116	+0.134%	$324K	$391K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0081%	4h	0.7105	−0.014%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7106	−0.003%	$8.7M	$3.6M	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	0.7097	−0.127%	$193K	$76K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7114	+0.106%	$73K	$41K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7105	−0.014%	$16.3M	$36.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7102	−0.056%	$15.3M	$15.4M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7102	−0.056%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7099	−0.099%	$1.5M	$2.8M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7100	−0.084%	$17.0M	$4.0M	100x	as long as short
KuCoin VIRTUALUSDTMshort	+0.0100%	4h	0.7100	−0.084%	$3.1M	$3.9M	50x
Bitget VIRTUALUSDT	+0.0100%	4h	0.7108	+0.028%	$6.0M	$5.2M	25x	as long as short
BingX VIRTUAL-USDTlong	+0.0100%	4h	0.7106	long leg	—	$8.2M	—
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7136	+0.422%	$234K	$154K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7113	+0.105%	$19K	$255K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7124	+0.253%	$635K	$982K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7119	+0.183%	$40K	$243K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7097	−0.120%	$33K	$783K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7107	+0.014%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7104	−0.031%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7101	−0.067%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7108	+0.026%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0296% / S −0.0228%	1h	0.7106	−0.002%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7132	+0.366%	$814K	$801K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7152	+0.647%	$195K	$104K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0529%	1h	0.7112	+0.083%	$518K	$518K	50x	as long as short