Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against KuCoin−0.180%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

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

costs, in and out, $10k−$610.609% of the position

Long on KuCoin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 7 days+0.164%+$16 · spread now −0.180%, 7d avg −0.001%

Together, before fees+0.213%+$21 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: Bitget is 0.179% cheaper against KuCoin than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin VIRTUALUSDTM	0.7213	0.0100	pay 0.0050% / 4h	3h 54m	$3.0M	$4.3M	50x
Short	Bitget VIRTUALUSDT	0.7200	0.0100	get 0.0050% / 4h	3h 54m	$6.2M	$5.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.180%Rate

Funding earned: $0
Price spread: −0.180% → −0.001%: −$17.88
Slippage, 4 orders: −$36.95
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$78.82
Costs to cover: 0.609%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Bitget: live order book, 4 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, 3 min ago	2.09 bp	22.3 bp −$22	61.8 bp −$618	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	2.78 bp	11.9 bp −$12	32.5 bp −$325	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	−0.0167%	1h	0.7199	−0.194%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7198	−0.203%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0064%	1h	0.7210	−0.042%	$2K	$131	10x	as long as short
Lighter VIRTUAL	−0.0048%	1h	0.7192	−0.287%	$328K	$406K	5x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7182	−0.433%	$11K	$37K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7205	−0.115%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.331%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0093%	4h	0.7198	−0.208%	$14K	$1.4M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7209	−0.060%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7225	+0.171%	$97K	$292K	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	0.7225	+0.172%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7199	−0.196%	$16.3M	$40.8M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7198	−0.208%	$16.6M	$18.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7199	−0.194%	$2.9M	$10.0M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7216	+0.042%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7203	−0.139%	$17.2M	$4.6M	100x	as long as short
KuCoin VIRTUALUSDTMlong	+0.0100%	4h	0.7213	long leg	$3.0M	$4.3M	50x
Bitget VIRTUALUSDTshort	+0.0100%	4h	0.7200	−0.180%	$6.2M	$5.8M	25x
BingX VIRTUAL-USDT	+0.0100%	4h	0.7208	−0.069%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7229	+0.222%	$241K	$208K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7188	−0.343%	$537K	$913K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7194	−0.262%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7190	−0.316%	$642K	$913K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7196	−0.236%	$41K	$238K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7213	+0.001%	$55K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7193	−0.277%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7195	−0.252%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7194	−0.267%	$57K	$268K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7196	−0.229%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7202	−0.159%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7219	+0.083%	$802K	$911K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7234	+0.291%	$202K	$106K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0486%	1h	0.7205	−0.118%	$594K	$667K	50x	as long as short