Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.014%

Price spread now: Polymarket Perps against KuCoin+0.067%49s7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$630.630% of the position

Long on KuCoin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.211%−$21 on $10k

Price spread, last 3 days (all we have)+0.257%+$26 · spread now +0.067%, 7d avg +0.008%

Together, before fees+0.046%+$5 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: Polymarket Perps is 0.059% dearer against KuCoin than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.008%. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin VIRTUALUSDTM	0.7158	0.0100	pay 0.0050% / 4h	2h 34m	$3.1M	$3.9M	50x
Short	Polymarket Perps VIRTUAL-USD	0.7163	0.0100	get 0.0013% / 1h	34m 40s	$33K	$783K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.067%Rate

Funding earned: $0
Price spread: +0.067% → +0.008%: $5.91
Slippage, 4 orders: −$43.05
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$57.14
Costs to cover: 0.630%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Polymarket Perps: live order book, 53 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	1.40 bp	19.3 bp −$19	50.0 bp −$500	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 53 min ago	2.60 bp	7.1 bp −$7	7.2 bp −$72	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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0588%	1h	0.7156	−0.028%	$15K	$40K	10x	as long as short
Injective VIRTUAL/USDC PERP	−0.0160%	1h	0.7117	−0.573%	$46	$88K	5.5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7160	+0.021%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7134	−0.332%	$11K	$45K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0104%	1h	0.7164	+0.084%	$2K	$131	10x	as long as short
Variational Omni VIRTUAL	+0.0005%	4h	0.7142	−0.220%	$521K	$874K	—	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7160	+0.031%	$12K	—	150x	as long as short
Lighter VIRTUAL	+0.0072%	1h	0.7152	−0.081%	$325K	$391K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0082%	4h	0.7157	−0.014%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7163	+0.063%	$8.8M	$3.6M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7159	+0.012%	$195K	$81K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7165	+0.091%	$74K	$42K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7163	+0.070%	$16.4M	$36.7M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7159	+0.014%	$15.5M	$15.4M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7161	+0.042%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7159	+0.014%	$1.5M	$2.9M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7159	+0.014%	$17.1M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTMlong	+0.0100%	4h	0.7158	long leg	$3.1M	$3.9M	50x
Bitget VIRTUALUSDT	+0.0100%	4h	0.7166	+0.112%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7162	+0.056%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7160	+0.028%	$235K	$158K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7134	−0.341%	$19K	$256K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7148	−0.143%	$633K	$974K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7151	−0.098%	$40K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USDshort	+0.0100%	1h	0.7163	+0.067%	$33K	$783K	5x
SunX VIRTUAL-USDT	+0.0100%	4h	0.7163	+0.070%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7155	−0.043%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7161	+0.044%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7157	−0.015%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0297% / S −0.0228%	1h	0.7160	+0.033%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7152	−0.084%	$812K	$802K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7168	+0.140%	$195K	$94K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0525%	1h	0.7166	+0.114%	$536K	$541K	50x	as long as short