Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against KuCoin−0.084%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.084% cheaper against KuCoin than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin VIRTUALUSDTM	0.7156	0.0100	pay 0.0050% / 4h	1h 33m	$4.3M	$4.1M	50x
Short	gTrade (Gains Network) VIRTUAL/USD	0.7150	L +0.0007% / S −0.0004%	get 0.0000% / 1h	33m 12s	$12K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.084%Rate

Funding earned: −$20.18
Price spread: −0.084% → 0.000%: −$8.4
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$50.57
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 4 min ago; gTrade (Gains Network): 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 KuCoin live order book, 4 min ago	2.80 bp	40.4 bp −$40	74.0 bp −$740	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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	−0.0309%	1h	0.7148	−0.112%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7147	−0.125%	$24	—	10x	as long as short
Lighter VIRTUAL	−0.0120%	1h	0.7144	−0.162%	$325K	$414K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0120%	1h	0.7150	−0.084%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0045%	1h	0.7150	−0.077%	$11K	$40K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USDshort	L +0.0007% / S −0.0004%	1h	0.7150	−0.084%	$12K	—	150x
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.545%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0092%	4h	0.7146	−0.140%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7158	+0.032%	$8.7M	$3.8M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7153	−0.036%	$193K	$83K	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	0.7157	+0.011%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7145	−0.151%	$16.3M	$37.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7143	−0.182%	$15.5M	$15.7M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7141	−0.210%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7153	−0.042%	$1.5M	$2.8M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7153	−0.042%	$17.2M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTMlong	+0.0100%	4h	0.7156	long leg	$4.3M	$4.1M	50x
Bitget VIRTUALUSDT	+0.0100%	4h	0.7152	−0.056%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7151	−0.070%	—	$8.0M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7154	−0.028%	$238K	$159K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7146	−0.144%	$523K	$877K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7148	−0.107%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7147	−0.126%	$633K	$930K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7151	−0.070%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7154	−0.029%	$31K	$869K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7146	−0.140%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7143	−0.186%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7144	−0.164%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7151	−0.068%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0297% / S −0.0228%	1h	0.7150	−0.083%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7143	−0.182%	$806K	$788K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7164	+0.112%	$195K	$94K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0512%	1h	0.7156	0.000%	$534K	$543K	50x	as long as short