Funding arb · Price arb /

VIRTUAL

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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 0.000%

Price spread now: KuCoin against edgeX−0.092%7-day average +0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$530.528% of the position

Long on edgeX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.017%−$2 on $10k

Price spread, last 4 days (all we have)−0.050%−$5 · spread now −0.092%, 7d avg +0.047%

Together, before fees−0.067%+ Points / potential airdropedgeX: Active · farm board−$7 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 0.139% cheaper against edgeX than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX VIRTUALUSDC	0.7172	0.0100	pay 0.0050% / 4h	1h 55m	$19K	$256K	10x
Short	KuCoin VIRTUALUSDTM	0.7165	0.0100	get 0.0050% / 4h	1h 55m	$3.4M	$4.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against edgeX. 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 edgeXbpFee KuCoinbpOrdersPrice spread, now −0.092%Rate

Funding earned: $0
Price spread: −0.092% → +0.047%: −$13.86
Slippage, 4 orders: −$31.79
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$66.64
Costs to cover: 0.528%
Break-even: never at this rate

Slippage from edgeX: live order book, 55 min ago; KuCoin: live order book, 5 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 edgeX live order book, 55 min ago	2.79 bp	8.2 bp −$8	18.9 bp −$189	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	3.47 bp	14.9 bp −$15	54.1 bp −$541	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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0447%	1h	0.7165	−0.092%	$25K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7164	−0.102%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0132%	1h	0.7188	+0.223%	$11K	$32K	5x	as long as short
Lighter VIRTUAL	−0.0112%	1h	0.7158	−0.184%	$326K	$368K	5x	as long as short
SoDEX VIRTUAL-USD	−0.0058%	1h	0.7164	−0.110%	$1K	$9K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0006%	1h	0.7175	+0.049%	$22K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.761%	$46	$88K	5.5x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0063%	1h	0.7176	+0.062%	$561K	$749K	50x	as long as short
Variational Omni VIRTUAL	+0.0076%	4h	0.7163	−0.124%	$680K	$816K	—	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0085%	4h	0.7166	−0.078%	$15K	$1.8M	10x	as long as short

Show all 33 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VIRTUAL	+0.0100%	1h	0.7173	+0.018%	$8.9M	$3.6M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7170	−0.024%	$92K	$297K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7164	−0.106%	$70K	$42K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7163	−0.126%	$16.1M	$40.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7162	−0.133%	$16.6M	$18.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7163	−0.120%	$2.8M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7166	−0.078%	$1.5M	$3.1M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7164	−0.106%	$14.8M	$5.1M	100x	as long as short
KuCoin VIRTUALUSDTMshort	+0.0100%	4h	0.7165	−0.092%	$3.4M	$4.5M	50x
Bitget VIRTUALUSDT	+0.0100%	4h	0.7169	−0.036%	$6.1M	$5.4M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7165	−0.092%	—	$7.8M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7168	−0.050%	$245K	$177K	10x	as long as short
edgeX VIRTUALUSDClong	+0.0100%	4h	0.7172	long leg	$19K	$256K	10x
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7185	+0.190%	$638K	$1.4M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7188	+0.229%	$40K	$234K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7170	−0.022%	$47K	$996K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7166	−0.078%	$1K	$1.3M	20x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7159	−0.173%	$54K	$310K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7166	−0.077%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0312% / S −0.0258%	1h	0.7168	−0.054%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7174	+0.034%	$779K	$961K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0480%	1h	0.7193	+0.299%	$202K	$97K	50x	as long as short
01 Exchange VIRTUALUSD	+0.6232%	1h	0.7275	+1.442%	$2K	$27	10x	as long as short