Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0105%/8h= −11.5% APRpaid last 24h +0.099%

Price spread now: Kraken Futures against KuCoin+0.005%7-day average +0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$720.721% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%$0 on $10k

Price spread, last 4 days (all we have)+0.023%+$2 · spread now +0.005%, 7d avg +0.068%

Together, before fees+0.019%+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kraken Futures is 0.063% cheaper against KuCoin than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.068%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin VIRTUALUSDTM	0.7162	0.0100	pay 0.0050% / 4h	1h 07m	$3.0M	$4.4M	50x
Short	Kraken Futures PF_VIRTUALUSD	0.7162	−0.0005	pay 0.0001% / 1h	7m 01s	$523K	$762K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$22.02
Price spread: +0.005% → +0.068%: −$6.33
Slippage, 4 orders: −$50.08
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$100.43
Costs to cover: 0.721%
Break-even: never at this rate

Slippage from KuCoin: live order book, 1 min ago; Kraken Futures: live order book, 36 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, 1 min ago	3.49 bp	20.5 bp −$21	50.0 bp −$500	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 36 min ago	4.90 bp	18.0 bp −$18	49.0 bp −$490	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	0.7151	−0.148%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0101%	1h	0.7146	−0.226%	$11K	$36K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0080%	1h	0.7143	−0.265%	$2K	$106	10x	as long as short
Variational Omni VIRTUAL	−0.0049%	4h	0.7138	−0.333%	$530K	$903K	—	as long as short
Lighter VIRTUAL	−0.0008%	1h	0.7157	−0.077%	$323K	$404K	5x	as long as short
Kraken Futures PF_VIRTUALUSDshort	−0.0005%	1h	0.7162	+0.005%	$523K	$762K	50x
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7154	−0.111%	$14K	—	150x	as long as short
Bybit VIRTUALUSDT	+0.0018%	4h	0.7158	−0.056%	$16.2M	$18.9M	50x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	+0.0030%	1h	0.7155	−0.098%	$15K	$40K	10x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.628%	$46	$88K	5.5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_VIRTUAL_USDC	+0.0072%	4h	0.7152	−0.140%	$16K	$1.7M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7164	+0.024%	$93K	$302K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7140	−0.303%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7163	+0.012%	$16.1M	$42.3M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7157	−0.070%	$2.9M	$10.0M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7160	−0.028%	$1.5M	$3.4M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7161	−0.014%	$15.9M	$5.2M	100x	as long as short
KuCoin VIRTUALUSDTMlong	+0.0100%	4h	0.7162	long leg	$3.0M	$4.4M	50x
Bitget VIRTUALUSDT	+0.0100%	4h	0.7162	0.000%	$6.0M	$5.9M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7160	−0.028%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7160	−0.028%	$237K	$176K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7148	−0.199%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7144	−0.247%	$630K	$1.1M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7150	−0.168%	$40K	$236K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7150	−0.170%	$47K	$1.0M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7156	−0.084%	$1K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7157	−0.063%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7153	−0.122%	$55K	$259K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7152	−0.143%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0208%	1h	0.7167	+0.077%	$8.8M	$3.9M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0313% / S −0.0258%	1h	0.7155	−0.094%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7159	−0.042%	$784K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7175	+0.182%	$200K	$101K	50x	as long as short