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: MEXC against KuCoin−0.042%7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$460.464% of the position

Long on KuCoin Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.013%+$1 on $10k

Price spread, last 7 days+0.004%$0 · spread now −0.042%, 7d avg −0.041%

Together, before fees+0.017%+$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin VIRTUALUSDTM	0.7107	0.0100	pay 0.0050% / 4h	1h 35m	$3.0M	$4.4M	50x
Short	MEXC VIRTUAL_USDT	0.7104	0.0100	get 0.0050% / 4h	1h 35m	$15.9M	$5.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.042%Rate

Funding earned: $0
Price spread: −0.042% → −0.041%: −$0.15
Slippage, 4 orders: −$34.4
Fee KuCoin: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$46.55
Costs to cover: 0.464%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; MEXC: live order book, 3 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, 2 min ago	2.11 bp	20.9 bp −$21	50.3 bp −$503	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.70 bp	2.6 bp −$3	9.5 bp −$95	77.0 bp −$7,699	258.3 bp −$129.1K

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
Lighter VIRTUAL	−0.0168%	1h	0.7098	−0.124%	$323K	$402K	5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7100	−0.093%	$24	—	10x	as long as short
Bybit VIRTUALUSDT	−0.0120%	4h	0.7099	−0.113%	$16.1M	$19.0M	50x	as long as short
01 Exchange VIRTUALUSD	−0.0120%	1h	0.7102	−0.070%	$2K	$106	10x	as long as short
Phoenix VIRTUAL	−0.0101%	1h	0.7113	+0.079%	$11K	$36K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0031%	1h	0.7104	−0.042%	$15K	$40K	10x	as long as short
Variational Omni VIRTUAL	−0.0031%	4h	0.7100	−0.095%	$528K	$908K	—	as long as short
Kraken Futures PF_VIRTUALUSD	−0.0005%	1h	0.7107	+0.005%	$520K	$763K	50x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7106	−0.010%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	+0.141%	$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	0.7102	−0.070%	$15K	$1.6M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7115	+0.107%	$8.7M	$4.0M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7106	−0.007%	$92K	$302K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7106	−0.020%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7104	−0.042%	$16.0M	$42.3M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7104	−0.042%	$2.9M	$10.0M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7105	−0.028%	$1.5M	$3.4M	75x	as long as short
MEXC VIRTUAL_USDTshort	+0.0100%	4h	0.7104	−0.042%	$15.9M	$5.2M	100x
KuCoin VIRTUALUSDTMlong	+0.0100%	4h	0.7107	long leg	$3.0M	$4.4M	50x
Bitget VIRTUALUSDT	+0.0100%	4h	0.7104	−0.042%	$6.0M	$5.9M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7101	−0.084%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7106	−0.014%	$235K	$178K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7117	+0.140%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7111	+0.052%	$634K	$1.1M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7117	+0.141%	$40K	$236K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7103	−0.058%	$47K	$1.0M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7102	−0.070%	$2K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7103	−0.056%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7098	−0.123%	$55K	$281K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7102	−0.075%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0312% / S −0.0258%	1h	0.7105	−0.026%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7114	+0.098%	$783K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7144	+0.521%	$199K	$101K	50x	as long as short