VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0704%/8h= −77.1% APRnext payment −$0.88 per $10,000 · paid last 24h −0.078%

Price spread now: ApeX Omni against Kraken Futures−0.032%45s7-day average −0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$850.855% of the position

Long on Kraken Futures Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.030%+$3 on $10k

Price spread, last 4 days (all we have)+0.057%+$6 · spread now −0.032%, 7d avg −0.057%

Together, before fees+0.087%+$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.025% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.032% now, against its 7-day average of −0.057%): +$2 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 3 hours. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.030% in total (about 1.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.88 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_VIRTUALUSD	0.7132	0.0804	pay 0.0101% / 1h	49m 31s	$593K	$663K	50x
Short	ApeX Omni VIRTUALUSDT	0.7130	0.0100	get 0.0013% / 1h	49m 31s	$40K	$240K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Kraken Futures. 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 Kraken FuturesbpFee ApeX OmnibpOrdersPrice spread, now −0.032%Rate

Funding earned: −$147.91
Price spread: −0.032% → −0.057%: $2.49
Slippage, 4 orders: −$65.47
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$230.89
Costs to cover: 0.855%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 9 min ago; ApeX Omni: live order book, 7 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 Kraken Futures live order book, 9 min ago	21.00 bp	27.7 bp −$28	60.1 bp −$601	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 7 min ago	6.27 bp	14.2 bp −$14	93.9 bp −$939	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	0.7100	−0.455%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0104%	1h	0.7099	−0.467%	$2K	$131	10x	as long as short
Lighter VIRTUAL	−0.0064%	1h	0.7108	−0.342%	$323K	$413K	5x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7137	+0.062%	$11K	$37K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0031%	1h	0.7125	−0.102%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7126	−0.083%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.214%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7122	−0.144%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7124	−0.120%	$8.7M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7116	−0.224%	$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	0.7116	−0.225%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7104	−0.397%	$16.1M	$40.4M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7104	−0.397%	$16.4M	$18.3M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7105	−0.382%	$2.8M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7108	−0.340%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7107	−0.354%	$17.7M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7108	−0.340%	$2.9M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7104	−0.397%	$6.1M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7108	−0.340%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7121	−0.158%	$236K	$205K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7124	−0.120%	$531K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7153	+0.288%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7148	+0.214%	$634K	$868K	10x	as long as short
ApeX Omni VIRTUALUSDTshort	+0.0100%	1h	0.7130	−0.032%	$40K	$240K	50x
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7108	−0.345%	$68K	$1.0M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7123	−0.130%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7121	−0.158%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7106	−0.374%	$55K	$267K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7124	−0.112%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0315% / S −0.0266%	1h	0.7126	−0.095%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7128	−0.060%	$805K	$890K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0416%	1h	0.7179	+0.655%	$207K	$98K	50x	as long as short
Kraken Futures PF_VIRTUALUSDlong	+0.0804%	1h	0.7132	long leg	$593K	$663K	50x