VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0641%/8h= +70.2% APRnext payment +$0.80 per $10,000 · paid last 24h +0.065%

Price spread now: Kraken Futures against Polymarket Perps+0.089%7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$590.592% of the position

Long on Polymarket Perps Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.177%+$18 on $10k

Price spread, last 3 days (all we have)−0.059%−$6 · spread now +0.089%, 7d avg +0.069%

Together, before fees+0.119%+$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Kraken Futures is 0.020% dearer against Polymarket Perps than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.069%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.177% in total (about 9.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.80 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	Polymarket Perps VIRTUAL-USD	0.7295	0.0100	pay 0.0013% / 1h	30m 03s	$47K	$1.1M	5x
Short	Kraken Futures PF_VIRTUALUSD	0.7301	0.0741	get 0.0093% / 1h	30m 03s	$603K	$643K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Polymarket Perps. 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 Polymarket PerpsbpFee Kraken FuturesbpOrdersPrice spread, now +0.089%Rate

Funding earned: $134.65
Price spread: +0.089% → +0.069%: $2.02
Slippage, 4 orders: −$41.23
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $77.45
Costs to cover: 0.592%
Break-even: 3.0 days

Slippage from Polymarket Perps: live order book, 3 min ago; Kraken Futures: live order book, 43 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 Polymarket Perps live order book, 3 min ago	2.94 bp	6.9 bp −$7	7.3 bp −$73	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 43 min ago	10.97 bp	23.3 bp −$23	49.5 bp −$495	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	0.7287	−0.110%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0109%	1h	0.7316	+0.292%	$12K	$40K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0064%	1h	0.7287	−0.106%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0024%	1h	0.7288	−0.092%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7291	−0.050%	$4K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.436%	$46	$88K	5.5x	as long as short
Lighter VIRTUAL	+0.0064%	1h	0.7285	−0.133%	$330K	$417K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7289	−0.078%	$14K	$1.5M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7292	−0.043%	$199K	$155K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7291	−0.050%	$72K	$45K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VIRTUALUSDT	+0.0100%	4h	0.7295	+0.008%	$16.9M	$39.4M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7294	−0.010%	$16.5M	$17.0M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7292	−0.037%	$2.9M	$9.6M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7292	−0.037%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7292	−0.037%	$18.4M	$4.1M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7290	−0.064%	$4.3M	$4.2M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7295	+0.004%	$6.3M	$5.6M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7293	−0.023%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7294	−0.010%	$247K	$165K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7291	−0.053%	$546K	$885K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7326	+0.435%	$19K	$259K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7327	+0.445%	$651K	$889K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7311	+0.223%	$41K	$244K	50x	as long as short
Polymarket Perps VIRTUAL-USDlong	+0.0100%	1h	0.7295	long leg	$47K	$1.1M	5x
SunX VIRTUAL-USDT	+0.0100%	4h	0.7290	−0.064%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7289	−0.078%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7294	−0.003%	$55K	$321K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7288	−0.099%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0187%	1h	0.7305	+0.136%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7289	−0.085%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7297	+0.032%	$833K	$841K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7305	+0.141%	$198K	$91K	50x	as long as short
Kraken Futures PF_VIRTUALUSDshort	+0.0741%	1h	0.7301	+0.089%	$603K	$643K	50x