Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0458%/8h= +50.1% APRpaid last 24h +0.006%

Price spread now: Kraken Futures against BloFin+0.073%7-day average +0.100% · you sell dearer than you buy

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$780.776% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.435%−$43 on $10k

Price spread, last 4 days (all we have)+0.014%+$1 · spread now +0.073%, 7d avg +0.100%

Together, before fees−0.420%−$42 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.026% cheaper against BloFin than usual: you would sell low and buy high (spread +0.073% now, against its 7-day average of +0.100%). If the spread goes back, that is −$3 on $10k: about 5 hours of funding at the current rate (+$14 a day). Mind the row above: over the last 7 days funding on this pair cost −0.435%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin VIRTUAL-USDT	0.7186	0.0340	pay 0.0170% / 4h	0m 30s	$801K	$901K	75x
Short	Kraken Futures PF_VIRTUALUSD	0.7191	0.0798	get 0.0100% / 1h	0m 30s	$593K	$664K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now +0.073%Rate

Funding earned: $96.13
Price spread: +0.073% → +0.100%: −$2.63
Slippage, 4 orders: −$55.65
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $15.85
Costs to cover: 0.776%
Break-even: 5.8 days

Slippage from BloFin: live order book, 36 min ago; Kraken Futures: live order book, 58 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 BloFin live order book, 36 min ago	0.70 bp	11.9 bp −$12	23.6 bp −$236	63.4 bp −$6,343	doesn't fit
Sell Kraken Futures live order book, 58 min ago	21.00 bp	28.6 bp −$29	55.2 bp −$552	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	0.7183	−0.040%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0064%	1h	0.7187	+0.014%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7155	−0.427%	$11K	$37K	5x	as long as short
Lighter VIRTUAL	−0.0024%	1h	0.7185	−0.008%	$327K	$415K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7184	−0.034%	$14K	—	150x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	+0.0028%	1h	0.7186	0.000%	$15K	$40K	10x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.960%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0093%	4h	0.7183	−0.042%	$14K	$1.4M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7195	+0.124%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7189	+0.044%	$97K	$292K	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	0.7192	+0.084%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7190	+0.058%	$16.3M	$40.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7189	+0.042%	$16.6M	$18.4M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7190	+0.056%	$2.8M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7188	+0.028%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7188	+0.028%	$17.5M	$4.5M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7188	+0.028%	$3.0M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7192	+0.083%	$6.2M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7191	+0.070%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7190	+0.056%	$240K	$208K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7181	−0.066%	$537K	$913K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7161	−0.346%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7166	−0.278%	$640K	$913K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7165	−0.292%	$41K	$239K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7189	+0.043%	$55K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7187	+0.014%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7183	−0.049%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7187	+0.007%	$54K	$263K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7184	−0.033%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0316% / S −0.0265%	1h	0.7182	−0.049%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDTlong	+0.0340%	4h	0.7186	long leg	$801K	$901K	75x
Coinbase International VIRTUAL-PERP-INTX	+0.0416%	1h	0.7184	−0.028%	$201K	$105K	50x	as long as short
Kraken Futures PF_VIRTUALUSDshort	+0.0798%	1h	0.7191	+0.073%	$593K	$664K	50x