Funding arb · Price arb /

VIRTUAL

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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 −0.018%

Price spread now: Variational Omni against KuCoin+0.016%7-day average −0.041% · you sell dearer than you buy

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

Long on KuCoin Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.018%−$2 on $10k

Price spread, last 4 days (all we have)+0.044%+$4 · spread now +0.016%, 7d avg −0.041%

Together, before fees+0.027%+ Points / potential airdropVariational Omni: Active · farm board+$3 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: Variational Omni is 0.058% dearer against KuCoin than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin VIRTUALUSDTM	0.7161	0.0100	pay 0.0050% / 4h	2h 00m	$3.0M	$4.4M	50x
Short	Variational Omni VIRTUAL	0.7162	0.0100	get 0.0050% / 4h	2h 00m	$533K	$914K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.016%Rate

Funding earned: $0
Price spread: +0.016% → −0.041%: $5.76
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$6.24
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 7 min ago; Variational Omni: RFQ quote, 49 min ago. 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, 7 min ago	2.79 bp	19.5 bp −$20	52.6 bp −$526	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 49 min ago	4.21 bp	doesn't fit	16.8 bp −$168	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	−0.0308%	1h	0.7159	−0.028%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7157	−0.062%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0120%	1h	0.7158	−0.042%	$2K	$106	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7172	+0.151%	$11K	$36K	5x	as long as short
Lighter VIRTUAL	0.0000%	1h	0.7153	−0.109%	$325K	$403K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7162	+0.011%	$14K	—	150x	as long as short
Bybit VIRTUALUSDT	+0.0022%	4h	0.7155	−0.084%	$16.3M	$19.0M	50x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.614%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0074%	4h	0.7162	+0.014%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7162	+0.014%	$93K	$302K	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	0.7166	+0.065%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7157	−0.054%	$16.1M	$42.3M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7156	−0.070%	$2.9M	$10.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7162	+0.014%	$1.5M	$3.5M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7154	−0.098%	$15.4M	$5.1M	100x	as long as short
KuCoin VIRTUALUSDTMlong	+0.0100%	4h	0.7161	long leg	$3.0M	$4.4M	50x
Bitget VIRTUALUSDT	+0.0100%	4h	0.7158	−0.042%	$6.0M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7156	−0.070%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7158	−0.042%	$238K	$206K	10x	as long as short
Variational Omni VIRTUALshort	+0.0100%	4h	0.7162	+0.016%	$533K	$914K	—
edgeX VIRTUALUSDC	+0.0100%	4h	0.7168	+0.096%	$19K	$262K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7168	+0.098%	$641K	$1.0M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7185	+0.335%	$40K	$237K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7159	−0.025%	$51K	$1.0M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7160	−0.014%	$2K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7158	−0.035%	$1K	$9K	5x	as long as short
Hyperliquid VIRTUAL	+0.0102%	1h	0.7166	+0.064%	$8.8M	$4.1M	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7157	−0.057%	$54K	$303K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7156	−0.075%	$18K	—	3x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0279%	1h	0.7164	+0.038%	$526K	$766K	50x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0313% / S −0.0258%	1h	0.7162	+0.012%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7164	+0.042%	$782K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0432%	1h	0.7192	+0.433%	$200K	$102K	50x	as long as short