VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0762%/8h= +83.5% APRnext payment +$0.95 per $10,000 · paid last 24h +0.052%

Price spread now: Kraken Futures against Polymarket Perps+0.083%7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$550.546% of the position

Long on Polymarket Perps Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.167%+$17 on $10k

Price spread, last 3 days (all we have)−0.056%−$6 · spread now +0.083%, 7d avg +0.069%

Together, before fees+0.111%+$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.069%, so right now this pair is about funding alone: +$23 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.167% in total (about 8.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.95 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps VIRTUAL-USD	0.7299	0.0100	pay 0.0013% / 1h	27m 58s	$36K	$955K	5x
Short	Kraken Futures PF_VIRTUALUSD	0.7306	0.0862	get 0.0108% / 1h	27m 58s	$597K	$582K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Polymarket Perps. 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 Polymarket PerpsbpFee Kraken FuturesbpOrdersPrice spread, now +0.083%Rate

Funding earned: $160.08
Price spread: +0.083% → +0.069%: $1.37
Slippage, 4 orders: −$36.61
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $106.84
Costs to cover: 0.546%
Break-even: 2.3 days

Slippage from Polymarket Perps: live order book, 50 min ago; Kraken Futures: live order book, 50 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 Polymarket Perps live order book, 50 min ago	3.48 bp	7.5 bp −$8	7.7 bp −$77	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 50 min ago	11.81 bp	18.0 bp −$18	44.8 bp −$448	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	−0.0435%	1h	0.7293	−0.089%	$15K	$40K	10x	as long as short
01 Exchange VIRTUALUSD	−0.0144%	1h	0.7290	−0.130%	$2K	$131	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7291	−0.111%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0066%	1h	0.7326	+0.362%	$12K	$40K	5x	as long as short
Lighter VIRTUAL	−0.0032%	1h	0.7283	−0.222%	$331K	$415K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0010%	1h	0.7298	−0.025%	$9K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.500%	$46	$88K	5.5x	as long as short
SoDEX VIRTUAL-USD	+0.0072%	1h	0.7288	−0.164%	$1K	$9K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0092%	4h	0.7292	−0.103%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7290	−0.130%	$200K	$101K	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	0.7300	+0.010%	$73K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7281	−0.253%	$16.6M	$38.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7281	−0.253%	$16.2M	$16.6M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7280	−0.267%	$2.9M	$9.5M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7283	−0.226%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7282	−0.240%	$18.1M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7291	−0.116%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7291	−0.116%	$6.3M	$5.5M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7284	−0.212%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7287	−0.171%	$246K	$169K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7306	+0.084%	$537K	$878K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7325	+0.352%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7300	+0.007%	$648K	$915K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7332	+0.445%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USDlong	+0.0100%	1h	0.7299	long leg	$36K	$955K	5x
SunX VIRTUAL-USDT	+0.0100%	4h	0.7285	−0.199%	$2K	$1.3M	20x	as long as short
Hyperliquid VIRTUAL	+0.0103%	1h	0.7297	−0.037%	$9.1M	$4.0M	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7281	−0.255%	$54K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7290	−0.124%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7297	−0.033%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7291	−0.116%	$816K	$847K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7339	+0.541%	$199K	$94K	50x	as long as short
Kraken Futures PF_VIRTUALUSDshort	+0.0862%	1h	0.7306	+0.083%	$597K	$582K	50x