Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.014%

Price spread now: Polymarket Perps against KuCoin+0.029%7-day average −0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$590.588% of the position

Long on KuCoin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.231%−$23 on $10k

Price spread, last 7 days−0.018%−$2 · spread now +0.029%, 7d avg −0.043%

Together, before fees−0.248%−$25 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: Polymarket Perps is 0.072% dearer against KuCoin than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin VIRTUALUSDTM	0.7156	0.0100	pay 0.0050% / 4h	1h 50m	$3.0M	$4.4M	50x
Short	Polymarket Perps VIRTUAL-USD	0.7158	0.0100	get 0.0013% / 1h	50m 20s	$51K	$1.0M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against KuCoin. 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 KuCoinbpFee Polymarket PerpsbpOrdersPrice spread, now +0.029%Rate

Funding earned: $0
Price spread: +0.029% → −0.043%: $7.2
Slippage, 4 orders: −$38.75
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$51.55
Costs to cover: 0.588%
Break-even: never at this rate

Slippage from KuCoin: live order book, 7 min ago; Polymarket Perps: live order book, 3 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 KuCoin live order book, 7 min ago	3.49 bp	21.2 bp −$21	59.1 bp −$591	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	2.45 bp	6.5 bp −$6	7.1 bp −$71	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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7157	+0.012%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0120%	1h	0.7155	−0.014%	$2K	$106	10x	as long as short
Phoenix VIRTUAL	−0.0101%	1h	0.7135	−0.293%	$11K	$36K	5x	as long as short
Lighter VIRTUAL	−0.0056%	1h	0.7149	−0.101%	$325K	$400K	5x	as long as short
Bybit VIRTUALUSDT	−0.0048%	4h	0.7153	−0.042%	$16.3M	$19.0M	50x	as long as short
Kraken Futures PF_VIRTUALUSD	−0.0005%	1h	0.7159	+0.040%	$525K	$758K	50x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7158	+0.027%	$14K	—	150x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	+0.0030%	1h	0.7157	+0.014%	$15K	$40K	10x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.545%	$46	$88K	5.5x	as long as short
Variational Omni VIRTUAL	+0.0050%	4h	0.7137	−0.261%	$530K	$914K	—	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX VIRTUAL-USD	+0.0058%	1h	0.7155	−0.017%	$1K	$9K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0073%	4h	0.7152	−0.056%	$16K	$1.6M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7169	+0.184%	$8.8M	$4.0M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7161	+0.076%	$93K	$302K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7154	−0.026%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7158	+0.028%	$16.1M	$42.3M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7156	0.000%	$2.9M	$10.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7158	+0.028%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7156	0.000%	$16.1M	$5.1M	100x	as long as short
KuCoin VIRTUALUSDTMlong	+0.0100%	4h	0.7156	long leg	$3.0M	$4.4M	50x
Bitget VIRTUALUSDT	+0.0100%	4h	0.7157	+0.014%	$6.0M	$5.9M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7156	0.000%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7148	−0.112%	$237K	$176K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7130	−0.358%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7138	−0.257%	$641K	$1.1M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7135	−0.293%	$40K	$237K	50x	as long as short
Polymarket Perps VIRTUAL-USDshort	+0.0100%	1h	0.7158	+0.029%	$51K	$1.0M	5x
SunX VIRTUAL-USDT	+0.0100%	4h	0.7154	−0.028%	$2K	$1.4M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7152	−0.058%	$55K	$304K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7154	−0.029%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0313% / S −0.0258%	1h	0.7157	+0.011%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7146	−0.140%	$789K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7192	+0.503%	$200K	$102K	50x	as long as short