Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against Bitget−0.191%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$620.620% of the position

Long on Bitget Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.049%−$5 on $10k

Price spread, last 7 days+0.183%+$18 · spread now −0.191%, 7d avg +0.001%

Together, before fees+0.134%+$13 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 0.192% cheaper against Bitget than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget VIRTUALUSDT	0.7324	0.0100	pay 0.0050% / 4h	3h 43m	$6.4M	$5.6M	25x
Short	KuCoin VIRTUALUSDTM	0.7310	0.0100	get 0.0050% / 4h	3h 43m	$4.3M	$4.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bitget. 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 BitgetbpFee KuCoinbpOrdersPrice spread, now −0.191%Rate

Funding earned: $0
Price spread: −0.191% → +0.001%: −$19.22
Slippage, 4 orders: −$37.96
Fee Bitget: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$81.17
Costs to cover: 0.620%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; KuCoin: live order book, 5 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 Bitget live order book, 5 min ago	2.05 bp	12.3 bp −$12	29.8 bp −$298	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7307	−0.230%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0109%	1h	0.7302	−0.298%	$11K	$40K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0088%	1h	0.7305	−0.259%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7313	−0.150%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7312	−0.169%	$9K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.826%	$46	$88K	5.5x	as long as short
Lighter VIRTUAL	+0.0056%	1h	0.7305	−0.255%	$331K	$417K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0088%	4h	0.7314	−0.137%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7309	−0.199%	$200K	$157K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7304	−0.266%	$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	0.7313	−0.150%	$16.8M	$39.8M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7315	−0.123%	$16.4M	$17.0M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7316	−0.109%	$2.9M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7311	−0.177%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7304	−0.273%	$18.4M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTMshort	+0.0100%	4h	0.7310	−0.191%	$4.3M	$4.2M	50x
Bitget VIRTUALUSDTlong	+0.0100%	4h	0.7324	long leg	$6.4M	$5.6M	25x
BingX VIRTUAL-USDT	+0.0100%	4h	0.7308	−0.218%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7313	−0.150%	$248K	$166K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7302	−0.302%	$546K	$888K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7295	−0.393%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7303	−0.286%	$648K	$916K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7299	−0.341%	$40K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7312	−0.158%	$45K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7314	−0.137%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7311	−0.171%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7311	−0.181%	$58K	$249K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7313	−0.154%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0133%	1h	0.7318	−0.076%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0300% / S −0.0228%	1h	0.7313	−0.146%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7310	−0.191%	$827K	$846K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7366	+0.573%	$200K	$92K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0739%	1h	0.7324	−0.002%	$604K	$634K	50x	as long as short