VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0147%/8h= +16.1% APRnext payment +$0.74 per $10,000 · paid last 24h +0.002%

Price spread now: KuCoin against Bybit+0.028%7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$640.645% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 7 days−0.044%−$4 · spread now +0.028%, 7d avg +0.051%

Together, before fees−0.036%−$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.023% cheaper against Bybit than usual: you would sell low and buy high (spread +0.028% now, against its 7-day average of +0.051%). If the spread goes back, that is −$2 on $10k: about 12 hours of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.008% in total) that is about 19 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit VIRTUALUSDT	0.7144	−0.0047	get 0.0024% / 4h	3h 24m	$16.3M	$18.7M	50x
Short	KuCoin VIRTUALUSDTM	0.7146	0.0100	get 0.0050% / 4h	3h 24m	$3.3M	$4.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bybit. 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 BybitbpFee KuCoinbpOrdersPrice spread, now +0.028%Rate

Funding earned: $30.97
Price spread: +0.028% → +0.051%: −$2.26
Slippage, 4 orders: −$41.5
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$35.79
Costs to cover: 0.645%
Break-even: 15.1 days

Slippage from Bybit: live order book, 4 min ago; KuCoin: live order book, 4 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 Bybit live order book, 4 min ago	0.70 bp	11.7 bp −$12	21.7 bp −$217	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	2.11 bp	17.1 bp −$17	46.2 bp −$462	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
Kraken Futures PF_VIRTUALUSD	−0.0225%	1h	0.7145	+0.017%	$514K	$739K	50x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7145	+0.011%	$24	—	10x	as long as short
Lighter VIRTUAL	−0.0088%	1h	0.7140	−0.056%	$323K	$402K	5x	as long as short
Variational Omni VIRTUAL	−0.0062%	4h	0.7097	−0.656%	$532K	$753K	—	as long as short
Bybit VIRTUALUSDTlong	−0.0047%	4h	0.7144	long leg	$16.3M	$18.7M	50x
SoDEX VIRTUAL-USD	−0.0039%	1h	0.7145	+0.007%	$1K	$9K	5x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7122	−0.308%	$11K	$36K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7146	+0.028%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0006%	1h	0.7125	−0.269%	$22K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.378%	$46	$88K	5.5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_VIRTUAL_USDC	+0.0073%	4h	0.7145	+0.014%	$15K	$1.8M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7151	+0.097%	$92K	$303K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7134	−0.146%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7153	+0.124%	$16.0M	$41.7M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7146	+0.028%	$2.9M	$10.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7146	+0.028%	$1.5M	$3.2M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7146	+0.028%	$15.3M	$5.2M	100x	as long as short
KuCoin VIRTUALUSDTMshort	+0.0100%	4h	0.7146	+0.028%	$3.3M	$4.5M	50x
Bitget VIRTUALUSDT	+0.0100%	4h	0.7147	+0.042%	$6.0M	$5.7M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7146	+0.028%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7155	+0.154%	$238K	$176K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7103	−0.572%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7115	−0.408%	$629K	$1.2M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7107	−0.518%	$40K	$234K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7145	+0.014%	$47K	$1.0M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7141	−0.042%	$2K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7144	+0.001%	$53K	$308K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7143	−0.010%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0147%	1h	0.7157	+0.175%	$8.8M	$3.8M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0312% / S −0.0258%	1h	0.7146	+0.027%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7122	−0.308%	$777K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0512%	1h	0.7168	+0.336%	$200K	$101K	50x	as long as short
01 Exchange VIRTUALUSD	+0.6248%	1h	0.7278	+1.876%	$2K	$106	10x	as long as short