VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0463%/8h= +50.7% APRnext payment +$0.58 per $10,000 · paid last 24h −0.008%

Price spread now: Kraken Futures against Coinbase International−0.059%7-day average −0.186% · you buy dearer than you sell

Net, funding: paid 7d − costs−$235as in the Funding arb table

Net, price: spread back to 7d avg − costs−$176as in the Price arb table

costs, in and out, $10k−$1881.884% of the position

Long on Coinbase International Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.469%−$47 on $10k

Price spread, last 4 days (all we have)−0.045%−$4 · spread now −0.059%, 7d avg −0.186%

Together, before fees−0.514%−$51 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Kraken Futures is 0.127% dearer against Coinbase International than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.186%. Mind the row above: over the last 7 days funding on this pair cost −0.469%, 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	Coinbase International VIRTUAL-PERP-INTX	0.7254	0.0440	pay 0.0055% / 1h	15m 46s	$190K	$79K	50x
Short	Kraken Futures PF_VIRTUALUSD	0.7250	0.0903	get 0.0113% / 1h	15m 46s	$605K	$661K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Coinbase International. 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 Coinbase InternationalbpFee Kraken FuturesbpOrdersPrice spread, now −0.059%Rate

Funding earned: $97.17
Price spread: −0.059% → −0.186%: $12.71
Slippage, 4 orders: −$168.44
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$78.56
Costs to cover: 1.884%
Break-even: 12.7 days

Slippage from Coinbase International: live order book, 47 min ago; Kraken Futures: live order book, 47 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 Coinbase International live order book, 47 min ago	6.93 bp	44.3 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 47 min ago	7.62 bp	17.9 bp −$18	42.5 bp −$425	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	0.7242	−0.169%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0064%	1h	0.7242	−0.165%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0026%	1h	0.7239	−0.207%	$15K	$40K	10x	as long as short
Phoenix VIRTUAL	0.0000%	1h	0.7244	−0.138%	$11K	$37K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7245	−0.123%	$4K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.889%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7240	−0.193%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7227	−0.376%	$328K	$413K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7243	−0.152%	$8.9M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7242	−0.164%	$98K	$291K	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	0.7233	−0.285%	$71K	$42K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7233	−0.289%	$16.5M	$40.1M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7231	−0.317%	$16.7M	$18.1M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7233	−0.289%	$2.9M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7240	−0.193%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7231	−0.317%	$17.8M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7234	−0.276%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7234	−0.276%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7231	−0.317%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7238	−0.221%	$239K	$203K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7240	−0.199%	$539K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7247	−0.097%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7245	−0.118%	$641K	$855K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7261	+0.096%	$41K	$239K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7247	−0.091%	$52K	$993K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7242	−0.165%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7238	−0.214%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7229	−0.340%	$54K	$270K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7238	−0.222%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0314% / S −0.0259%	1h	0.7245	−0.130%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7244	−0.138%	$817K	$851K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTXlong	+0.0440%	1h	0.7254	long leg	$190K	$79K	50x
Kraken Futures PF_VIRTUALUSDshort	+0.0903%	1h	0.7250	−0.059%	$605K	$661K	50x