VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1033%/8h= +113.1% APRnext payment +$1.29 per $10,000 · paid last 24h +0.105%

Price spread now: Kraken Futures against Deribit+0.199%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$31 a day on $10k at the current rate, and Kraken Futures is 0.199% dearer against Deribit than usual: you sell high and buy low: +$20 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit VIRTUAL_USDC-PERPETUAL	0.7239	−0.0164	get 0.0021% / 1h	57m 19s	$15K	$40K	10x
Short	Kraken Futures PF_VIRTUALUSD	0.7253	0.0868	get 0.0109% / 1h	57m 19s	$591K	$595K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Deribit. 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 DeribitbpFee Kraken FuturesbpOrdersPrice spread, now +0.199%Rate

Funding earned: $216.87
Price spread: +0.199% → 0.000%: $19.95
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $219.82
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Deribit: no order-book sample; Kraken Futures: live order book, 21 min ago. Net counts fees only.

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 Deribit no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 21 min ago	11.81 bp	18.0 bp −$18	44.8 bp −$448	doesn't fit	doesn't fit

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-PERPETUALlong	−0.0164%	1h	0.7239	long leg	$15K	$40K	10x
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7240	+0.013%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0064%	1h	0.7241	+0.028%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0045%	1h	0.7230	−0.127%	$11K	$39K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7242	+0.038%	$13K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.685%	$46	$88K	5.5x	as long as short
Lighter VIRTUAL	+0.0040%	1h	0.7234	−0.075%	$329K	$413K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0092%	4h	0.7240	+0.014%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7244	+0.069%	$191K	$91K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7242	+0.041%	$72K	$44K	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	0.7239	−0.005%	$16.5M	$37.9M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7237	−0.028%	$15.8M	$16.0M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7239	0.000%	$2.8M	$9.3M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7243	+0.055%	$1.5M	$2.9M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7238	−0.014%	$17.7M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7243	+0.055%	$4.4M	$4.1M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7244	+0.069%	$6.2M	$5.4M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7240	+0.014%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7244	+0.069%	$241K	$159K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7215	−0.338%	$528K	$876K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7229	−0.144%	$19K	$256K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7227	−0.165%	$640K	$918K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7229	−0.138%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7245	+0.088%	$33K	$906K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7240	+0.014%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7238	−0.010%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7236	−0.041%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7237	−0.031%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7242	+0.043%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7244	+0.069%	$809K	$822K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7244	+0.069%	$197K	$96K	50x	as long as short
Hyperliquid VIRTUAL	+0.0473%	1h	0.7253	+0.191%	$8.9M	$3.9M	5x	as long as short
Kraken Futures PF_VIRTUALUSDshort	+0.0868%	1h	0.7253	+0.199%	$591K	$595K	50x