Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0153%/8h= +16.7% APRpaid last 24h +0.009%

Price spread now: KuCoin against SoDEX+0.049%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and KuCoin is 0.049% dearer against SoDEX than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX VIRTUAL-USD	0.7108	−0.0053	get 0.0007% / 1h	52m 00s	$1K	$9K	5x
Short	KuCoin VIRTUALUSDTM	0.7112	0.0100	get 0.0050% / 4h	52m 00s	$3.4M	$4.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against SoDEX. 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 SoDEXbpFee KuCoinbpOrdersPrice spread, now +0.049%Rate

Funding earned: $32.05
Price spread: +0.049% → 0.000%: $4.92
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $16.98
Costs to cover: 0.200%
Break-even: 3.3 days

Slippage unknown: SoDEX: no order-book sample; KuCoin: live order book, 4 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 SoDEX no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 4 min ago	2.10 bp	14.1 bp −$14	41.6 bp −$416	doesn't fit	doesn't fit

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

VIRTUAL on 33 exchanges

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	−0.0172%	1h	0.7109	+0.007%	$25K	$40K	10x	as long as short
Phoenix VIRTUAL	−0.0146%	1h	0.7123	+0.201%	$11K	$32K	5x	as long as short
Lighter VIRTUAL	−0.0144%	1h	0.7106	−0.038%	$323K	$365K	5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7107	−0.023%	$24	—	10x	as long as short
ApeX Omni VIRTUALUSDT	−0.0054%	1h	0.7126	+0.246%	$40K	$234K	50x	as long as short
SoDEX VIRTUAL-USDlong	−0.0053%	1h	0.7108	long leg	$1K	$9K	5x
Kraken Futures PF_VIRTUALUSD	−0.0010%	1h	0.7118	+0.136%	$563K	$745K	50x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0006%	1h	0.7112	+0.050%	$22K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	+0.120%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0080%	4h	0.7108	−0.007%	$14K	$1.7M	10x	as long as short

Show all 33 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7111	+0.035%	$99K	$306K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7109	+0.011%	$70K	$39K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7107	−0.019%	$15.8M	$40.2M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7108	−0.007%	$16.7M	$18.3M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7107	−0.021%	$2.8M	$9.6M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7112	+0.049%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7110	+0.021%	$14.4M	$5.0M	100x	as long as short
KuCoin VIRTUALUSDTMshort	+0.0100%	4h	0.7112	+0.049%	$3.4M	$4.5M	50x
Bitget VIRTUALUSDT	+0.0100%	4h	0.7113	+0.063%	$6.1M	$5.1M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7111	+0.035%	—	$7.7M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7113	+0.063%	$242K	$180K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7121	+0.170%	$675K	$550K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7122	+0.185%	$19K	$253K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7121	+0.176%	$636K	$1.6M	10x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7114	+0.070%	$35K	$1.0M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7115	+0.091%	$2K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7107	−0.024%	$53K	$337K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7109	+0.003%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0178%	1h	0.7121	+0.179%	$8.8M	$3.3M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0311% / S −0.0258%	1h	0.7112	+0.046%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7115	+0.091%	$771K	$903K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0520%	1h	0.7167	+0.823%	$201K	$94K	50x	as long as short
01 Exchange VIRTUALUSD	+1.3944%	1h	0.7431	+4.537%	$2K	$393	10x	as long as short