Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0183%/8h= +20.0% APRpaid last 24h +0.099%

Price spread now: Kraken Futures against Gate+0.178%7-day average +0.061% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$770.772% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 4 days (all we have)−0.179%−$18 · spread now +0.178%, 7d avg +0.061%

Together, before fees−0.215%−$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Kraken Futures is 0.116% dearer against Gate than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.061%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate VIRTUAL_USDT	0.7052	0.0100	pay 0.0050% / 4h	2h 39m	$1.4M	$3.3M	75x
Short	Kraken Futures PF_VIRTUALUSD	0.7065	0.0283	get 0.0035% / 1h	39m 07s	$576K	$676K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.178%Rate

Funding earned: $38.34
Price spread: +0.178% → +0.061%: $11.65
Slippage, 4 orders: −$52.19
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$27.2
Costs to cover: 0.772%
Break-even: 12.0 days

Slippage from Gate: live order book, 4 min ago; Kraken Futures: live order book, 9 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 Gate live order book, 4 min ago	3.52 bp	19.0 bp −$19	97.7 bp −$977	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 9 min ago	12.60 bp	21.4 bp −$21	47.3 bp −$473	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
01 Exchange VIRTUALUSD	−0.0152%	1h	0.7035	−0.241%	$2K	$106	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7052	0.000%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7092	+0.562%	$11K	$36K	5x	as long as short
Lighter VIRTUAL	−0.0072%	1h	0.7047	−0.068%	$320K	$402K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0033%	1h	0.7058	+0.085%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7059	+0.106%	$14K	—	150x	as long as short
SoDEX VIRTUAL-USD	+0.0022%	1h	0.7054	+0.026%	$1K	$9K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	+0.922%	$46	$88K	5.5x	as long as short
Bybit VIRTUALUSDT	+0.0039%	4h	0.7048	−0.057%	$16.2M	$19.0M	50x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0075%	4h	0.7056	+0.057%	$14K	$1.4M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VIRTUAL	+0.0100%	1h	0.7066	+0.197%	$8.7M	$4.0M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7058	+0.086%	$92K	$299K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7056	+0.057%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7052	+0.005%	$15.9M	$41.6M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7055	+0.043%	$2.8M	$9.7M	20x	as long as short
Gate VIRTUAL_USDTlong	+0.0100%	4h	0.7052	long leg	$1.4M	$3.3M	75x
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7052	0.000%	$15.4M	$4.9M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7057	+0.071%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7059	+0.099%	$6.0M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7055	+0.043%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7056	+0.057%	$236K	$210K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7080	+0.402%	$530K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7101	+0.692%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7065	+0.189%	$630K	$998K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7086	+0.482%	$40K	$237K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7053	+0.009%	$52K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7063	+0.156%	$1K	$1.4M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7055	+0.049%	$56K	$302K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7054	+0.033%	$18K	—	3x	as long as short
Kraken Futures PF_VIRTUALUSDshort	+0.0283%	1h	0.7065	+0.178%	$576K	$676K	50x
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0316% / S −0.0269%	1h	0.7057	+0.077%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7052	0.000%	$784K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0432%	1h	0.7162	+1.560%	$199K	$104K	50x	as long as short