Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0239%/8h= +26.2% APRpaid last 24h +0.072%

Price spread now: KuCoin against Reya+0.002%49s7-day average — · you sell dearer than you buy

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

Long on Reya 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—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$7 a day on $10k at the current rate. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya VIRTUALRUSDPERP	0.7182	−0.0139	get 0.0017% / 1h	4m 39s	$24	—	10x
Short	KuCoin VIRTUALUSDTM	0.7182	0.0100	get 0.0050% / 4h	2h 04m	$3.0M	$4.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Reya. 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 ReyabpFee KuCoinbpOrdersPrice spread, now +0.002%Rate

Funding earned: $50.19
Price spread: +0.002% → 0.000%: $0.22
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $32.41
Costs to cover: 0.180%
Break-even: 2.5 days

Slippage unknown: Reya: no order-book sample; KuCoin: live order book, 3 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 Reya no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 3 min ago	2.79 bp	24.0 bp −$24	59.7 bp −$597	doesn't fit	doesn't fit

Reya: 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
Reya VIRTUALRUSDPERPlong	−0.0139%	1h	0.7182	long leg	$24	—	10x
01 Exchange VIRTUALUSD	−0.0120%	1h	0.7178	−0.053%	$2K	$106	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7178	−0.048%	$11K	$36K	5x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0028%	1h	0.7182	+0.002%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7185	+0.045%	$14K	—	150x	as long as short
Lighter VIRTUAL	+0.0008%	1h	0.7173	−0.118%	$326K	$403K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.903%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0075%	4h	0.7184	+0.030%	$14K	$1.5M	10x	as long as short
Bybit VIRTUALUSDT	+0.0094%	4h	0.7177	−0.067%	$16.4M	$19.1M	50x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7183	+0.012%	$93K	$302K	20x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7180	−0.029%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7180	−0.026%	$16.1M	$42.2M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7182	+0.002%	$2.9M	$10.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7183	+0.016%	$1.5M	$3.5M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7178	−0.053%	$15.5M	$5.0M	100x	as long as short
KuCoin VIRTUALUSDTMshort	+0.0100%	4h	0.7182	+0.002%	$3.0M	$4.4M	50x
Bitget VIRTUALUSDT	+0.0100%	4h	0.7179	−0.040%	$6.1M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7180	−0.026%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7188	+0.086%	$239K	$206K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7170	−0.161%	$533K	$914K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7175	−0.092%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7166	−0.225%	$638K	$1.0M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7180	−0.026%	$40K	$237K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7184	+0.024%	$53K	$1.0M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7184	+0.030%	$2K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7185	+0.044%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7176	−0.085%	$54K	$303K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7182	+0.003%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0106%	1h	0.7188	+0.089%	$8.8M	$4.1M	5x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0278%	1h	0.7189	+0.096%	$529K	$762K	50x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0313% / S −0.0258%	1h	0.7185	+0.044%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7181	−0.012%	$776K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0432%	1h	0.7193	+0.155%	$200K	$102K	50x	as long as short