Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against KuCoin+0.014%7-day average −0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$580.582% of the position

Long on KuCoin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.071%+$7 on $10k

Price spread, last 7 days−0.036%−$4 · spread now +0.014%, 7d avg −0.032%

Together, before fees+0.035%+$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.046% dearer against KuCoin than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin VIRTUALUSDTM	0.7051	0.0100	pay 0.0050% / 4h	2h 39m	$3.0M	$4.4M	50x
Short	BingX VIRTUAL-USDT	0.7052	0.0100	get 0.0050% / 4h	2h 39m	—	$7.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against KuCoin. 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 KuCoinbpFee BingXbpOrdersPrice spread, now +0.014%Rate

Funding earned: $0
Price spread: +0.014% → −0.032%: $4.57
Slippage, 4 orders: −$36.21
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$53.64
Costs to cover: 0.582%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; BingX: live order book, 8 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 KuCoin live order book, 3 min ago	2.11 bp	19.9 bp −$20	62.0 bp −$620	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	2.10 bp	7.9 bp −$8	12.5 bp −$125	21.3 bp −$2,131	87.0 bp −$43.5K

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	−0.0175%	1h	0.7060	+0.128%	$15K	$40K	10x	as long as short
01 Exchange VIRTUALUSD	−0.0144%	1h	0.7053	+0.028%	$2K	$106	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7057	+0.081%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7126	+1.059%	$11K	$36K	5x	as long as short
Lighter VIRTUAL	−0.0072%	1h	0.7049	−0.033%	$320K	$402K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7063	+0.170%	$14K	—	150x	as long as short
SoDEX VIRTUAL-USD	+0.0011%	1h	0.7058	+0.095%	$1K	$9K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	+0.936%	$46	$88K	5.5x	as long as short
Bybit VIRTUALUSDT	+0.0053%	4h	0.7048	−0.043%	$16.2M	$18.9M	50x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0076%	4h	0.7063	+0.170%	$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	0.7061	+0.145%	$8.7M	$4.0M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7058	+0.092%	$92K	$299K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7056	+0.071%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7051	+0.006%	$15.9M	$41.6M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7055	+0.057%	$2.8M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7058	+0.099%	$1.4M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7052	+0.014%	$15.4M	$4.9M	100x	as long as short
KuCoin VIRTUALUSDTMlong	+0.0100%	4h	0.7051	long leg	$3.0M	$4.4M	50x
Bitget VIRTUALUSDT	+0.0100%	4h	0.7056	+0.071%	$6.0M	$6.0M	25x	as long as short
BingX VIRTUAL-USDTshort	+0.0100%	4h	0.7052	+0.014%	—	$7.9M	—
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7060	+0.128%	$236K	$210K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7080	+0.416%	$530K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7101	+0.706%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7115	+0.902%	$628K	$987K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7103	+0.737%	$40K	$237K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7061	+0.146%	$52K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7070	+0.269%	$2K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7050	−0.018%	$56K	$302K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7057	+0.088%	$18K	—	3x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0283%	1h	0.7066	+0.209%	$577K	$676K	50x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0316% / S −0.0269%	1h	0.7062	+0.150%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7082	+0.440%	$787K	$988K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0432%	1h	0.7162	+1.574%	$199K	$104K	50x	as long as short