Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: ApeX Omni against KuCoin−0.014%7-day average +0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$760.755% of the position

Long on KuCoin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 3 days (all we have)+0.078%+$8 · spread now −0.014%, 7d avg +0.016%

Together, before fees+0.093%+$9 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: ApeX Omni is 0.030% cheaper against KuCoin than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin VIRTUALUSDTM	0.7297	0.0100	pay 0.0050% / 4h	3h 26m	$4.3M	$4.2M	50x
Short	ApeX Omni VIRTUALUSDT	0.7296	0.0100	get 0.0013% / 1h	26m 59s	$41K	$244K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against KuCoin. 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 KuCoinbpFee ApeX OmnibpOrdersPrice spread, now −0.014%Rate

Funding earned: $0
Price spread: −0.014% → +0.016%: −$3
Slippage, 4 orders: −$53.53
Fee KuCoin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$78.53
Costs to cover: 0.755%
Break-even: never at this rate

Slippage from KuCoin: live order book, 1 min ago; ApeX Omni: live order book, 44 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 KuCoin live order book, 1 min ago	3.43 bp	28.5 bp −$29	59.6 bp −$596	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 44 min ago	6.88 bp	14.2 bp −$14	98.4 bp −$984	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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7296	−0.019%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0109%	1h	0.7301	+0.053%	$11K	$40K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0056%	1h	0.7298	+0.014%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0024%	1h	0.7295	−0.027%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7295	−0.033%	$4K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−2.467%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7293	−0.055%	$14K	$1.5M	10x	as long as short
Lighter VIRTUAL	+0.0096%	1h	0.7287	−0.143%	$331K	$417K	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7299	+0.028%	$199K	$155K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7297	−0.005%	$72K	$45K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VIRTUALUSDT	+0.0100%	4h	0.7294	−0.041%	$16.9M	$39.4M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7295	−0.027%	$16.5M	$17.0M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7294	−0.041%	$2.9M	$9.6M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7297	0.000%	$1.5M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7291	−0.082%	$18.3M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTMlong	+0.0100%	4h	0.7297	long leg	$4.3M	$4.2M	50x
Bitget VIRTUALUSDT	+0.0100%	4h	0.7298	+0.014%	$6.3M	$5.6M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7294	−0.041%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7295	−0.027%	$247K	$164K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7291	−0.084%	$546K	$885K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7293	−0.050%	$19K	$258K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7297	−0.004%	$648K	$889K	10x	as long as short
ApeX Omni VIRTUALUSDTshort	+0.0100%	1h	0.7296	−0.014%	$41K	$244K	50x
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7302	+0.073%	$47K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7294	−0.041%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7292	−0.071%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7292	−0.063%	$55K	$321K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7293	−0.055%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0196%	1h	0.7302	+0.073%	$9.1M	$4.0M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7296	−0.018%	$31K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7287	−0.137%	$832K	$841K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0448%	1h	0.7313	+0.219%	$198K	$92K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0741%	1h	0.7304	+0.091%	$603K	$643K	50x	as long as short