VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0641%/8h= −70.2% APRnext payment −$0.80 per $10,000 · paid last 24h −0.083%

Price spread now: Phoenix against Kraken Futures−0.020%71s7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Phoenix

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$19 a day on $10k at the current rate. The two prices were read 71 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_VIRTUALUSD	0.7115	0.0529	pay 0.0066% / 1h	49m 42s	$519K	$518K	50x
Short	Phoenix VIRTUAL	0.7114	−0.0112	pay 0.0014% / 1h	49m 42s	$11K	$45K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.020%Rate

Funding earned: −$134.64
Price spread: −0.020% → 0.000%: −$1.98
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$153.62
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 38 min ago; Phoenix: no order-book sample. 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 Kraken Futures live order book, 38 min ago	4.91 bp	20.0 bp −$20	46.4 bp −$464	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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-PERPETUAL	−0.0172%	1h	0.7112	−0.047%	$15K	$40K	10x	as long as short
Injective VIRTUAL/USDC PERP	−0.0160%	1h	0.7117	+0.024%	$46	$88K	5.5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7111	−0.058%	$24	—	10x	as long as short
Phoenix VIRTUALshort	−0.0112%	1h	0.7114	−0.020%	$11K	$45K	5x
01 Exchange VIRTUALUSD	−0.0080%	1h	0.7115	−0.004%	$2K	$131	10x	as long as short
Variational Omni VIRTUAL	−0.0021%	4h	0.7104	−0.165%	$518K	$872K	—	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7111	−0.063%	$12K	—	150x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0081%	4h	0.7109	−0.089%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7103	−0.169%	$323K	$391K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7120	+0.063%	$8.7M	$3.6M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7113	−0.029%	$193K	$76K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7112	−0.050%	$73K	$41K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7110	−0.080%	$16.3M	$36.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7105	−0.145%	$15.3M	$15.4M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7106	−0.131%	$2.8M	$9.0M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7110	−0.075%	$1.5M	$2.8M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7109	−0.089%	$17.0M	$4.0M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7111	−0.061%	$3.1M	$3.9M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7110	−0.075%	$6.0M	$5.2M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7108	−0.103%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7111	−0.061%	$237K	$157K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7112	−0.040%	$19K	$256K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7122	+0.099%	$631K	$994K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7114	−0.018%	$40K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7120	+0.073%	$33K	$783K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7118	+0.038%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7104	−0.160%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7106	−0.128%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7112	−0.045%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0297% / S −0.0228%	1h	0.7111	−0.058%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7108	−0.103%	$813K	$799K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7152	+0.516%	$195K	$104K	50x	as long as short
Kraken Futures PF_VIRTUALUSDlong	+0.0529%	1h	0.7115	long leg	$519K	$518K	50x