VIRTUAL

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0803%/8h= −88.0% APRnext payment −$1.00 per $10,000 · paid last 24h −0.068%

Price spread now: Extended against Kraken Futures−0.193%7-day average −0.129% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$650.651% of the position

Long on Kraken Futures Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.048%+$5 on $10k

Price spread, last 4 days (all we have)+0.260%+$26 · spread now −0.193%, 7d avg −0.129%

Together, before fees+0.309%+ Points / potential airdropExtended: Active · farm board+$31 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$24 a day on $10k at the current rate, and Extended is 0.064% cheaper against Kraken Futures than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.129%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.048% in total (about 2.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.00 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	0.7213	0.0907	pay 0.0113% / 1h	13m 03s	$602K	$662K	50x
Short	Extended VIRTUAL-USD	0.7199	0.0104	get 0.0013% / 1h	13m 03s	$54K	$270K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.193%Rate

Funding earned: −$168.71
Price spread: −0.193% → −0.129%: −$6.39
Slippage, 4 orders: −$50.09
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$240.18
Costs to cover: 0.651%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 50 min ago; Extended: live order book, 49 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, 50 min ago	7.62 bp	18.0 bp −$18	49.4 bp −$494	doesn't fit	doesn't fit
Sell Extended live order book, 49 min ago	1.94 bp	14.6 bp −$15	201.8 bp −$2,018	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	−0.0166%	1h	0.7200	−0.174%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7206	−0.087%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0064%	1h	0.7210	−0.035%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	0.0000%	1h	0.7202	−0.145%	$11K	$37K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7204	−0.116%	$4K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.325%	$46	$88K	5.5x	as long as short
Lighter VIRTUAL	+0.0072%	1h	0.7198	−0.198%	$327K	$413K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0090%	4h	0.7199	−0.188%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7211	−0.021%	$8.9M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7207	−0.074%	$98K	$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	0.7212	−0.006%	$71K	$42K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7200	−0.174%	$16.5M	$40.2M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7202	−0.146%	$16.7M	$18.1M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7201	−0.160%	$2.9M	$9.7M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7206	−0.091%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7200	−0.174%	$17.8M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7204	−0.119%	$3.0M	$4.4M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7204	−0.119%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7201	−0.160%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7203	−0.132%	$238K	$203K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7240	+0.375%	$539K	$909K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7238	+0.350%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7242	+0.402%	$640K	$855K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7238	+0.353%	$41K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7214	+0.021%	$52K	$993K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7205	−0.105%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7199	−0.192%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USDshort	+0.0104%	1h	0.7199	−0.193%	$54K	$270K	10x
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7199	−0.194%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0314% / S −0.0259%	1h	0.7204	−0.118%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7199	−0.188%	$818K	$846K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7254	+0.575%	$190K	$79K	50x	as long as short
Kraken Futures PF_VIRTUALUSDlong	+0.0907%	1h	0.7213	long leg	$602K	$662K	50x