Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0172%/8h= +18.8% APRpaid last 24h +0.080%

Price spread now: KuCoin against 01 Exchange+0.056%7-day average — · you sell dearer than you buy

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

Long on 01 Exchange Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 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 0.056% dearer against 01 Exchange than usual: you sell high and buy low: +$6 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	01 Exchange VIRTUALUSD	0.7104	−0.0072	get 0.0009% / 1h	45m 25s	$2K	$131	10x
Short	KuCoin VIRTUALUSDTM	0.7108	0.0100	get 0.0050% / 4h	2h 45m	$3.1M	$3.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against 01 Exchange. 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 01 ExchangebpFee KuCoinbpOrdersPrice spread, now +0.056%Rate

Funding earned: $36.12
Price spread: +0.056% → 0.000%: $5.63
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $22.75
Costs to cover: 0.190%
Break-even: 2.6 days

Slippage unknown: 01 Exchange: no order-book sample; KuCoin: live order book, 2 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 01 Exchange no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 2 min ago	0.70 bp	22.7 bp −$23	56.2 bp −$562	doesn't fit	doesn't fit

01 Exchange: 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 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
Injective VIRTUAL/USDC PERP	−0.0160%	1h	0.7117	+0.183%	$46	$88K	5.5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7102	−0.032%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7112	+0.107%	$11K	$45K	5x	as long as short
01 Exchange VIRTUALUSDlong	−0.0072%	1h	0.7104	long leg	$2K	$131	10x
Deribit VIRTUAL_USDC-PERPETUAL	−0.0031%	1h	0.7105	+0.014%	$15K	$40K	10x	as long as short
Variational Omni VIRTUAL	−0.0011%	4h	0.7104	−0.007%	$518K	$872K	—	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7106	+0.034%	$12K	—	150x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0081%	4h	0.7105	+0.014%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7102	−0.031%	$323K	$391K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7111	+0.099%	$8.7M	$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	0.7110	+0.084%	$193K	$76K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7108	+0.061%	$73K	$41K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7103	−0.014%	$16.3M	$36.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7098	−0.084%	$15.3M	$15.3M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7100	−0.056%	$2.8M	$9.0M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7105	+0.014%	$1.5M	$2.8M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7101	−0.042%	$17.0M	$4.0M	100x	as long as short
KuCoin VIRTUALUSDTMshort	+0.0100%	4h	0.7108	+0.056%	$3.1M	$3.9M	50x
Bitget VIRTUALUSDT	+0.0100%	4h	0.7102	−0.028%	$6.0M	$5.2M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7101	−0.042%	—	$8.2M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7108	+0.056%	$236K	$155K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7114	+0.137%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7111	+0.099%	$630K	$994K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7115	+0.155%	$40K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7108	+0.051%	$33K	$783K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7106	+0.028%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7100	−0.059%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7100	−0.052%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7103	−0.014%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0296% / S −0.0228%	1h	0.7105	+0.010%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7113	+0.127%	$815K	$795K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7152	+0.676%	$195K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0529%	1h	0.7110	+0.080%	$520K	$522K	50x	as long as short