VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0383%/8h= −41.9% APRnext payment −$0.48 per $10,000 · paid last 24h −0.092%

Price spread now: Extended against Kraken Futures−0.179%7-day average −0.129% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$810.807% of the position

Long on Kraken Futures Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.032%+$3 on $10k

Price spread, last 4 days (all we have)+0.067%+$7 · spread now −0.179%, 7d avg −0.129%

Together, before fees+0.099%+ Points / potential airdropExtended: Active · farm board+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Extended is 0.050% cheaper against Kraken Futures than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.129%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.032% in total (about 1.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.48 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	Kraken Futures PF_VIRTUALUSD	0.7187	0.0487	pay 0.0061% / 1h	26m 49s	$589K	$665K	50x
Short	Extended VIRTUAL-USD	0.7174	0.0104	get 0.0013% / 1h	26m 49s	$57K	$267K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Kraken Futures. 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 Kraken FuturesbpFee ExtendedbpOrdersPrice spread, now −0.179%Rate

Funding earned: −$80.38
Price spread: −0.179% → −0.129%: −$4.99
Slippage, 4 orders: −$65.69
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$166.07
Costs to cover: 0.807%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 26 min ago; Extended: live order book, 25 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 Kraken Futures live order book, 26 min ago	17.27 bp	29.9 bp −$30	53.9 bp −$539	doesn't fit	doesn't fit
Sell Extended live order book, 25 min ago	1.80 bp	14.4 bp −$14	126.5 bp −$1,265	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	0.7176	−0.153%	$15K	$40K	10x	as long as short
Lighter VIRTUAL	−0.0144%	1h	0.7172	−0.209%	$327K	$406K	5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7176	−0.154%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0128%	1h	0.7173	−0.195%	$2K	$106	10x	as long as short
Phoenix VIRTUAL	−0.0022%	1h	0.7210	+0.318%	$11K	$37K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7179	−0.112%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.974%	$46	$88K	5.5x	as long as short
SoDEX VIRTUAL-USD	+0.0040%	1h	0.7176	−0.160%	$1K	$9K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7174	−0.181%	$14K	$1.4M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7187	+0.004%	$8.8M	$4.1M	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	0.7176	−0.153%	$94K	$294K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7181	−0.086%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7174	−0.181%	$16.2M	$41.0M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7173	−0.195%	$16.6M	$18.6M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7179	−0.112%	$2.9M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7179	−0.112%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7177	−0.139%	$16.4M	$4.7M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7178	−0.125%	$3.0M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7178	−0.125%	$6.2M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7177	−0.139%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7180	−0.098%	$241K	$213K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7208	+0.288%	$539K	$913K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7188	+0.020%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7187	0.000%	$638K	$953K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7210	+0.320%	$41K	$238K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7178	−0.123%	$54K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7176	−0.153%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USDshort	+0.0104%	1h	0.7174	−0.179%	$57K	$267K	10x
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7174	−0.183%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7179	−0.117%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7177	−0.139%	$799K	$951K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7214	+0.375%	$201K	$104K	50x	as long as short
Kraken Futures PF_VIRTUALUSDlong	+0.0487%	1h	0.7187	long leg	$589K	$665K	50x