Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: KuCoin against Bybit+0.070%7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$580.579% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 7 days−0.069%−$7 · spread now +0.070%, 7d avg +0.052%

Together, before fees−0.061%−$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit VIRTUALUSDT	0.7170	0.0100	pay 0.0050% / 4h	2h 17m	$16.5M	$18.7M	50x
Short	KuCoin VIRTUALUSDTM	0.7175	0.0100	get 0.0050% / 4h	2h 17m	$3.3M	$4.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bybit. 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 BybitbpFee KuCoinbpOrdersPrice spread, now +0.070%Rate

Funding earned: $0
Price spread: +0.070% → +0.052%: $1.77
Slippage, 4 orders: −$34.94
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$56.17
Costs to cover: 0.579%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; KuCoin: live order book, 4 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 Bybit live order book, 4 min ago	0.70 bp	9.5 bp −$9	22.5 bp −$225	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	3.48 bp	17.6 bp −$18	55.4 bp −$554	doesn't fit	doesn't fit

VIRTUAL on 33 exchanges

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
Polymarket Perps VIRTUAL-USD	−0.0710%	1h	0.7174	+0.049%	$47K	$996K	5x	as long as short
Kraken Futures PF_VIRTUALUSD	−0.0239%	1h	0.7179	+0.129%	$536K	$737K	50x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0168%	1h	0.7173	+0.042%	$25K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7170	0.000%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0132%	1h	0.7185	+0.215%	$11K	$35K	5x	as long as short
Lighter VIRTUAL	−0.0096%	1h	0.7168	−0.024%	$327K	$384K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0006%	1h	0.7176	+0.081%	$22K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.739%	$46	$88K	5.5x	as long as short
Variational Omni VIRTUAL	+0.0069%	4h	0.7176	+0.084%	$681K	$889K	—	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0084%	4h	0.7171	+0.014%	$15K	$1.9M	10x	as long as short

Show all 33 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7177	+0.097%	$92K	$297K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7177	+0.094%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7172	+0.028%	$16.1M	$41.2M	75x	as long as short
Bybit VIRTUALUSDTlong	+0.0100%	4h	0.7170	long leg	$16.5M	$18.7M	50x
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7170	0.000%	$2.8M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7175	+0.070%	$1.6M	$3.2M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7172	+0.028%	$15.1M	$5.3M	100x	as long as short
KuCoin VIRTUALUSDTMshort	+0.0100%	4h	0.7175	+0.070%	$3.3M	$4.6M	50x
Bitget VIRTUALUSDT	+0.0100%	4h	0.7178	+0.112%	$6.1M	$5.5M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7171	+0.014%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7177	+0.098%	$247K	$175K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7169	−0.016%	$19K	$259K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7169	−0.014%	$635K	$1.3M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7183	+0.181%	$40K	$235K	50x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7170	0.000%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7172	+0.025%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7169	−0.010%	$54K	$309K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7171	+0.012%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0170%	1h	0.7185	+0.206%	$8.9M	$3.7M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0312% / S −0.0258%	1h	0.7173	+0.037%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7173	+0.042%	$778K	$997K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7217	+0.656%	$203K	$101K	50x	as long as short
01 Exchange VIRTUALUSD	+0.6288%	1h	0.7306	+1.897%	$2K	$53	10x	as long as short