Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against BingX+0.056%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$610.606% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.076%−$8 on $10k

Price spread, last 7 days−0.028%−$3 · spread now +0.056%, 7d avg +0.032%

Together, before fees−0.104%−$10 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: KuCoin is 0.024% dearer against BingX than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX VIRTUAL-USDT	0.7200	0.0100	pay 0.0050% / 4h	2h 20m	—	$8.1M	—
Short	KuCoin VIRTUALUSDTM	0.7204	0.0100	get 0.0050% / 4h	2h 20m	$3.0M	$4.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against BingX. 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 BingXbpFee KuCoinbpOrdersPrice spread, now +0.056%Rate

Funding earned: $0
Price spread: +0.056% → +0.032%: $2.39
Slippage, 4 orders: −$38.59
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$58.2
Costs to cover: 0.606%
Break-even: never at this rate

Slippage from BingX: live order book, 3 min ago; KuCoin: live order book, 2 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 BingX live order book, 3 min ago	0.69 bp	8.1 bp −$8	11.1 bp −$111	20.9 bp −$2,090	83.9 bp −$41.9K
Sell KuCoin live order book, 2 min ago	3.45 bp	19.8 bp −$20	46.8 bp −$468	doesn't fit	doesn't fit

VIRTUAL on 32 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	−0.0304%	1h	0.7220	+0.278%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7195	−0.073%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0080%	1h	0.7199	−0.014%	$2K	$131	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7222	+0.307%	$4K	—	150x	as long as short
Phoenix VIRTUAL	+0.0011%	1h	0.7260	+0.828%	$11K	$46K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.153%	$46	$88K	5.5x	as long as short
Lighter VIRTUAL	+0.0080%	1h	0.7194	−0.078%	$327K	$415K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7221	+0.292%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7205	+0.068%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7207	+0.092%	$98K	$296K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7202	+0.026%	$71K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7198	−0.028%	$16.4M	$41.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7196	−0.056%	$16.4M	$18.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7196	−0.056%	$2.9M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7200	0.000%	$1.4M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7195	−0.069%	$17.5M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTMshort	+0.0100%	4h	0.7204	+0.056%	$3.0M	$4.5M	50x
Bitget VIRTUALUSDT	+0.0100%	4h	0.7200	0.000%	$6.2M	$6.1M	25x	as long as short
BingX VIRTUAL-USDTlong	+0.0100%	4h	0.7200	long leg	—	$8.1M	—
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7218	+0.250%	$244K	$170K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7218	+0.252%	$537K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7229	+0.402%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7248	+0.668%	$643K	$888K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7229	+0.403%	$41K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7202	+0.028%	$52K	$1.2M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7225	+0.347%	$2K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7219	+0.269%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7194	−0.086%	$56K	$275K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7219	+0.259%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7220	+0.285%	$30K	—	100x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7261	+0.847%	$190K	$101K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.1021%	1h	0.7232	+0.438%	$598K	$668K	50x	as long as short