Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0037%/8h= +4.0% APRpaid last 24h −0.082%

Price spread now: SunX against Kraken Futures−0.186%7-day average −0.077% · you buy dearer than you sell

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

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.082%+$8 on $10k

Price spread, last 4 days (all we have)+0.083%+$8 · spread now −0.186%, 7d avg −0.077%

Together, before fees+0.164%+$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.108% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.186% now, against its 7-day average of −0.077%). If the spread goes back, that is −$11 on $10k: about 9.8 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_VIRTUALUSD	0.7190	0.0063	pay 0.0008% / 1h	57m 37s	$562K	$749K	50x
Short	SunX VIRTUAL-USDT	0.7177	0.0100	get 0.0050% / 4h	1h 57m	$1K	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 SunXbpOrdersPrice spread, now −0.186%Rate

Funding earned: $7.73
Price spread: −0.186% → −0.077%: −$10.82
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$21.09
Costs to cover: 0.180%
Break-even: 26.1 days

Slippage unknown: Kraken Futures: live order book, 53 min ago; SunX: live order book, 10 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 Kraken Futures live order book, 53 min ago	9.06 bp	16.2 bp −$16	42.0 bp −$420	doesn't fit	doesn't fit
Sell SunX live order book, 10 min ago	501.39 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

VIRTUAL on 33 exchanges

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	−0.0307%	1h	0.7179	−0.158%	$25K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7173	−0.238%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0132%	1h	0.7188	−0.038%	$11K	$32K	5x	as long as short
SoDEX VIRTUAL-USD	−0.0122%	1h	0.7177	−0.188%	$1K	$9K	5x	as long as short
Lighter VIRTUAL	−0.0120%	1h	0.7170	−0.281%	$326K	$368K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0006%	1h	0.7180	−0.148%	$22K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.020%	$46	$88K	5.5x	as long as short
Kraken Futures PF_VIRTUALUSDlong	+0.0063%	1h	0.7190	long leg	$562K	$749K	50x
Variational Omni VIRTUAL	+0.0072%	4h	0.7173	−0.237%	$681K	$816K	—	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0085%	4h	0.7178	−0.172%	$15K	$1.8M	10x	as long as short

Show all 33 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VIRTUAL	+0.0100%	1h	0.7183	−0.101%	$8.9M	$3.6M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7179	−0.155%	$92K	$297K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7177	−0.181%	$71K	$42K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7174	−0.227%	$16.1M	$40.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7174	−0.227%	$16.7M	$18.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7175	−0.213%	$2.8M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7178	−0.172%	$1.5M	$3.1M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7172	−0.255%	$14.9M	$5.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7177	−0.186%	$3.4M	$4.5M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7179	−0.158%	$6.1M	$5.5M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7174	−0.227%	—	$7.8M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7182	−0.116%	$246K	$177K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7174	−0.222%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7185	−0.071%	$638K	$1.4M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7188	−0.033%	$40K	$234K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7182	−0.116%	$47K	$996K	5x	as long as short
SunX VIRTUAL-USDTshort	+0.0100%	4h	0.7177	−0.186%	$1K	$1.3M	20x
Extended VIRTUAL-USD	+0.0104%	1h	0.7172	−0.257%	$54K	$312K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7182	−0.111%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0312% / S −0.0258%	1h	0.7185	−0.071%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7181	−0.130%	$779K	$974K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0480%	1h	0.7193	+0.037%	$202K	$99K	50x	as long as short
01 Exchange VIRTUALUSD	+0.6224%	1h	0.7310	+1.664%	$2K	$27	10x	as long as short