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: OKX against KuCoin−0.028%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$670.674% of the position

Long on KuCoin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 7 days+0.036%+$4 · spread now −0.028%, 7d avg −0.020%

Together, before fees+0.033%+$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin VIRTUALUSDTM	0.7167	0.0100	pay 0.0050% / 4h	41m 30s	$3.1M	$4.4M	50x
Short	OKX VIRTUAL-USDT-SWAP	0.7165	0.0100	get 0.0050% / 4h	41m 30s	$2.9M	$10.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.028%Rate

Funding earned: $0
Price spread: −0.028% → −0.020%: −$0.79
Slippage, 4 orders: −$45.35
Fee KuCoin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$68.14
Costs to cover: 0.674%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; OKX: live order book, 2 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, 6 min ago	0.70 bp	20.1 bp −$20	52.2 bp −$522	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.70 bp	13.4 bp −$13	37.0 bp −$370	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
Kraken Futures PF_VIRTUALUSD	−0.0335%	1h	0.7166	−0.017%	$521K	$742K	50x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7163	−0.062%	$24	—	10x	as long as short
Variational Omni VIRTUAL	−0.0122%	4h	0.7151	−0.222%	$536K	$908K	—	as long as short
01 Exchange VIRTUALUSD	−0.0080%	1h	0.7165	−0.028%	$2K	$106	10x	as long as short
Phoenix VIRTUAL	−0.0067%	1h	0.7161	−0.087%	$11K	$36K	5x	as long as short
Bybit VIRTUALUSDT	−0.0037%	4h	0.7160	−0.098%	$16.3M	$18.8M	50x	as long as short
Lighter VIRTUAL	0.0000%	1h	0.7162	−0.073%	$323K	$403K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7162	−0.074%	$14K	—	150x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	+0.0029%	1h	0.7164	−0.042%	$15K	$40K	10x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.698%	$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	+0.0074%	4h	0.7166	−0.014%	$16K	$1.7M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7168	+0.020%	$92K	$303K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7168	+0.010%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7164	−0.042%	$16.2M	$42.2M	75x	as long as short
OKX VIRTUAL-USDT-SWAPshort	+0.0100%	4h	0.7165	−0.028%	$2.9M	$10.0M	20x
Gate VIRTUAL_USDT	+0.0100%	4h	0.7167	0.000%	$1.5M	$3.4M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7165	−0.028%	$15.8M	$5.3M	100x	as long as short
KuCoin VIRTUALUSDTMlong	+0.0100%	4h	0.7167	long leg	$3.1M	$4.4M	50x
Bitget VIRTUALUSDT	+0.0100%	4h	0.7166	−0.014%	$6.0M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7168	+0.014%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7172	+0.070%	$237K	$175K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7153	−0.201%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7155	−0.171%	$638K	$1.1M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7152	−0.209%	$40K	$236K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7163	−0.057%	$48K	$1.0M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7164	−0.042%	$2K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7163	−0.063%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7162	−0.068%	$54K	$263K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7163	−0.054%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0312%	1h	0.7176	+0.131%	$8.8M	$3.9M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0313% / S −0.0258%	1h	0.7164	−0.046%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7150	−0.237%	$782K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0480%	1h	0.7170	+0.042%	$200K	$100K	50x	as long as short