VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0813%/8h= −89.0% APRnext payment −$1.02 per $10,000 · paid last 24h −0.069%

Price spread now: ApeX Omni against Kraken Futures+0.395%75s7-day average −0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$650.655% of the position

Long on Kraken Futures Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.042%+$4 on $10k

Price spread, last 4 days (all we have)−0.185%−$18 · spread now +0.395%, 7d avg −0.055%

Together, before fees−0.143%−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.450% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.395% now, against its 7-day average of −0.055%): +$45 on $10k if it goes back. Holding the pair costs −$24 a day in funding at the current rate, which eats that in about 44 hours. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.042% in total (about 2.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.02 per $10,000. 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	Kraken Futures PF_VIRTUALUSD	0.7168	0.0913	pay 0.0114% / 1h	5m 48s	$596K	$663K	50x
Short	ApeX Omni VIRTUALUSDT	0.7196	0.0100	get 0.0013% / 1h	5m 48s	$41K	$240K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Kraken Futures. 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 Kraken FuturesbpFee ApeX OmnibpOrdersPrice spread, now +0.395%Rate

Funding earned: −$170.74
Price spread: +0.395% → −0.055%: $45
Slippage, 4 orders: −$45.47
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$191.21
Costs to cover: 0.655%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 57 min ago; ApeX Omni: live order book, 56 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 Kraken Futures live order book, 57 min ago	7.62 bp	18.0 bp −$18	49.4 bp −$494	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 56 min ago	6.94 bp	15.1 bp −$15	112.9 bp −$1,129	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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0169%	1h	0.7157	−0.150%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7157	−0.153%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0064%	1h	0.7160	−0.108%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	0.0000%	1h	0.7210	+0.590%	$11K	$37K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7159	−0.127%	$4K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.708%	$46	$88K	5.5x	as long as short
Lighter VIRTUAL	+0.0080%	1h	0.7149	−0.254%	$325K	$413K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7156	−0.163%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7166	−0.023%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7157	−0.150%	$97K	$291K	20x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7155	−0.175%	$70K	$42K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7151	−0.233%	$16.3M	$40.3M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7150	−0.247%	$16.6M	$18.1M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7155	−0.177%	$2.8M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7156	−0.163%	$1.4M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7153	−0.205%	$17.7M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7155	−0.177%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7155	−0.177%	$6.1M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7156	−0.163%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7159	−0.122%	$237K	$202K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7153	−0.204%	$533K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7197	+0.412%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7190	+0.305%	$641K	$867K	10x	as long as short
ApeX Omni VIRTUALUSDTshort	+0.0100%	1h	0.7196	+0.395%	$41K	$240K	50x
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7166	−0.031%	$51K	$989K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7158	−0.136%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7157	−0.143%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7154	−0.196%	$54K	$270K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7157	−0.156%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0298% / S −0.0228%	1h	0.7159	−0.127%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7174	+0.088%	$810K	$893K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7190	+0.311%	$207K	$98K	50x	as long as short
Kraken Futures PF_VIRTUALUSDlong	+0.0913%	1h	0.7168	long leg	$596K	$663K	50x