Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0422%/8h= +46.2% APRpaid last 24h +0.017%

Price spread now: Kraken Futures against Gate+0.224%7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$710.712% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.078%−$8 on $10k

Price spread, last 3 days (all we have)−0.295%−$29 · spread now +0.224%, 7d avg +0.052%

Together, before fees−0.373%−$37 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Kraken Futures is 0.172% dearer against Gate than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.052%. Mind the row above: over the last 7 days funding on this pair cost −0.078%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.078% in total (about -4.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate VIRTUAL_USDT	0.7191	0.0100	pay 0.0050% / 4h	2h 22m	$1.5M	$2.9M	75x
Short	Kraken Futures PF_VIRTUALUSD	0.7207	0.0522	get 0.0065% / 1h	22m 12s	$539K	$543K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.224%Rate

Funding earned: $88.69
Price spread: +0.224% → +0.052%: $17.18
Slippage, 4 orders: −$46.2
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $34.67
Costs to cover: 0.712%
Break-even: 4.3 days

Slippage from Gate: live order book, 1 min ago; Kraken Futures: live order book, 1 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 Gate live order book, 1 min ago	3.48 bp	17.6 bp −$18	88.0 bp −$880	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 1 min ago	5.56 bp	16.8 bp −$17	49.0 bp −$490	doesn't fit	doesn't fit

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
Injective VIRTUAL/USDC PERP	−0.0160%	1h	0.7117	−1.029%	$46	$88K	5.5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7191	+0.007%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7187	−0.060%	$11K	$45K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0096%	1h	0.7191	0.000%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	0.0000%	1h	0.7198	+0.097%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7198	+0.099%	$13K	—	150x	as long as short
Variational Omni VIRTUAL	+0.0037%	4h	0.7192	+0.010%	$527K	$878K	—	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0082%	4h	0.7196	+0.070%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7192	+0.013%	$327K	$391K	5x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7200	+0.127%	$8.8M	$3.7M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VIRTUALUSDT	+0.0100%	4h	0.7194	+0.048%	$195K	$82K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7186	−0.064%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7197	+0.080%	$16.5M	$37.1M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7195	+0.056%	$15.6M	$15.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7194	+0.042%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDTlong	+0.0100%	4h	0.7191	long leg	$1.5M	$2.9M	75x
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7194	+0.042%	$17.2M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7198	+0.097%	$3.1M	$3.9M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7203	+0.167%	$6.2M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7195	+0.056%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7199	+0.111%	$236K	$159K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7187	−0.051%	$19K	$255K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7192	+0.014%	$637K	$974K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7193	+0.028%	$40K	$245K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7195	+0.061%	$33K	$790K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7198	+0.097%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7196	+0.064%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7193	+0.033%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7196	+0.075%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0298% / S −0.0228%	1h	0.7198	+0.094%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7183	−0.111%	$816K	$803K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7203	+0.167%	$196K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSDshort	+0.0522%	1h	0.7207	+0.224%	$539K	$543K	50x