Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.018%

Price spread now: KuCoin against Variational Omni−0.251%7-day average +0.036% · you buy dearer than you sell

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

Long on Variational Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.018%+$2 on $10k

Price spread, last 3 days (all we have)+0.127%+$13 · spread now −0.251%, 7d avg +0.036%

Together, before fees+0.145%+ Points / potential airdropVariational Omni: Active · farm board+$14 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: KuCoin is 0.287% cheaper against Variational Omni than usual: you would sell low and buy high, −$29 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni VIRTUAL	0.7202	0.0100	pay 0.0050% / 4h	1h 17m	$527K	$877K	—
Short	KuCoin VIRTUALUSDTM	0.7184	0.0100	get 0.0050% / 4h	1h 17m	$4.3M	$4.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee KuCoinbpOrdersPrice spread, now −0.251%Rate

Funding earned: $0
Price spread: −0.251% → +0.036%: −$28.75
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$40.75
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; KuCoin: live order book, just now. 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 Variational Omni RFQ quote, 2 min ago	5.55 bp	doesn't fit	20.8 bp −$208	doesn't fit	doesn't fit
Sell KuCoin live order book, just now	2.79 bp	18.3 bp −$18	46.1 bp −$461	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	−0.0446%	1h	0.7183	−0.265%	$15K	$40K	10x	as long as short
Lighter VIRTUAL	−0.0168%	1h	0.7179	−0.318%	$327K	$414K	5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7181	−0.292%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0128%	1h	0.7182	−0.279%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0045%	1h	0.7207	+0.074%	$11K	$40K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7187	−0.214%	$12K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.182%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0093%	4h	0.7182	−0.279%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7192	−0.133%	$8.8M	$3.8M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7189	−0.177%	$196K	$88K	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	0.7189	−0.182%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7181	−0.293%	$16.3M	$37.7M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7179	−0.321%	$15.5M	$15.8M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7183	−0.265%	$2.8M	$9.2M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7184	−0.251%	$1.5M	$2.9M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7180	−0.307%	$17.2M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTMshort	+0.0100%	4h	0.7184	−0.251%	$4.3M	$4.1M	50x
Bitget VIRTUALUSDT	+0.0100%	4h	0.7188	−0.196%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7183	−0.265%	—	$8.0M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7183	−0.265%	$239K	$159K	10x	as long as short
Variational Omni VIRTUALlong	+0.0100%	4h	0.7202	long leg	$527K	$877K	—
edgeX VIRTUALUSDC	+0.0100%	4h	0.7208	+0.079%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7200	−0.029%	$638K	$918K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7211	+0.124%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7189	−0.180%	$29K	$882K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7182	−0.279%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7179	−0.314%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7180	−0.312%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7182	−0.273%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0298% / S −0.0228%	1h	0.7185	−0.242%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7186	−0.224%	$805K	$822K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7180	−0.307%	$195K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0510%	1h	0.7195	−0.096%	$585K	$596K	50x	as long as short