VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0583%/8h= +63.9% APRnext payment +$0.73 per $10,000 · paid last 24h −0.015%

Price spread now: Kraken Futures against Coinbase International+0.088%7-day average −0.189% · you sell dearer than you buy

Net, funding: paid 7d − costs−$236as in the Funding arb table

Net, price: spread back to 7d avg − costs−$161as in the Price arb table

costs, in and out, $10k−$1881.884% of the position

Long on Coinbase International Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.476%−$48 on $10k

Price spread, last 3 days (all we have)−0.283%−$28 · spread now +0.088%, 7d avg −0.189%

Together, before fees−0.760%−$76 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Kraken Futures is 0.277% dearer against Coinbase International than usual: you sell high and buy low: +$28 more if the spread goes back to its 7-day average of −0.189%. Mind the row above: over the last 7 days funding on this pair cost −0.476%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International VIRTUAL-PERP-INTX	0.7209	0.0440	pay 0.0055% / 1h	0m 23s	$188K	$83K	50x
Short	Kraken Futures PF_VIRTUALUSD	0.7215	0.1023	get 0.0128% / 1h	0m 23s	$596K	$670K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Coinbase International. 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 Coinbase InternationalbpFee Kraken FuturesbpOrdersPrice spread, now +0.088%Rate

Funding earned: $122.46
Price spread: +0.088% → −0.189%: $27.71
Slippage, 4 orders: −$168.44
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$38.27
Costs to cover: 1.884%
Break-even: 9.2 days

Slippage from Coinbase International: live order book, 2 min ago; Kraken Futures: 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 Coinbase International live order book, 2 min ago	6.93 bp	44.3 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	7.62 bp	17.9 bp −$18	42.5 bp −$425	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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7191	−0.253%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0056%	1h	0.7196	−0.180%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7203	−0.083%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7194	−0.211%	$4K	—	150x	as long as short
Phoenix VIRTUAL	+0.0011%	1h	0.7193	−0.225%	$11K	$46K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.276%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7192	−0.236%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7198	−0.146%	$327K	$415K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7205	−0.058%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7203	−0.083%	$98K	$291K	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	0.7204	−0.076%	$71K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7192	−0.240%	$16.4M	$40.7M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7190	−0.264%	$16.5M	$18.1M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7189	−0.277%	$2.8M	$9.8M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7202	−0.097%	$1.4M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7187	−0.305%	$17.3M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7200	−0.125%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7195	−0.194%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7191	−0.250%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7206	−0.042%	$243K	$159K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7200	−0.122%	$536K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7212	+0.048%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7203	−0.083%	$638K	$870K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7217	+0.111%	$41K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7202	−0.094%	$52K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7196	−0.180%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7204	−0.076%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7195	−0.197%	$54K	$275K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7190	−0.266%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7192	−0.241%	$30K	—	100x	as long as short
Coinbase International VIRTUAL-PERP-INTXlong	+0.0440%	1h	0.7209	long leg	$188K	$83K	50x
Kraken Futures PF_VIRTUALUSDshort	+0.1023%	1h	0.7215	+0.088%	$596K	$670K	50x