Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.081%

Price spread now: Deribit against KuCoin+0.098%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.098% dearer against KuCoin than usual: you sell high and buy low (spread +0.098% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin VIRTUALUSDTM	0.7153	0.0100	pay 0.0050% / 4h	2h 03m	$4.3M	$4.2M	50x
Short	Deribit VIRTUAL_USDC-PERPETUAL	0.7160	0	get 0.0000% / 1h	3m 17s	$15K	$40K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.098%Rate

Funding earned: −$21
Price spread: +0.098% → 0.000%: $9.79
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$30.21
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 4 min ago; Deribit: no order-book sample. Net counts fees only.

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, 4 min ago	2.79 bp	30.7 bp −$31	63.5 bp −$635	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.503%	$46	$88K	5.5x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7156	+0.041%	$24	—	10x	as long as short
Phoenix VIRTUAL	−0.0112%	1h	0.7162	+0.130%	$11K	$45K	5x	as long as short
01 Exchange VIRTUALUSD	−0.0096%	1h	0.7155	+0.028%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUALshort	0.0000%	1h	0.7160	+0.098%	$15K	$40K	10x
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0004%	1h	0.7158	+0.073%	$12K	—	150x	as long as short
Lighter VIRTUAL	+0.0072%	1h	0.7153	0.000%	$325K	$391K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0088%	4h	0.7157	+0.056%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7166	+0.180%	$8.7M	$3.7M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7155	+0.029%	$194K	$83K	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	0.7153	+0.003%	$72K	$44K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7157	+0.058%	$16.4M	$37.3M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7152	−0.014%	$15.4M	$15.6M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7156	+0.042%	$2.8M	$9.1M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7151	−0.028%	$1.4M	$3.0M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7155	+0.028%	$17.2M	$4.2M	100x	as long as short
KuCoin VIRTUALUSDTMlong	+0.0100%	4h	0.7153	long leg	$4.3M	$4.2M	50x
Bitget VIRTUALUSDT	+0.0100%	4h	0.7159	+0.084%	$6.1M	$5.3M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7155	+0.028%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7162	+0.126%	$235K	$159K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7159	+0.086%	$525K	$878K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7157	+0.054%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7145	−0.109%	$633K	$965K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7159	+0.084%	$40K	$246K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7160	+0.098%	$27K	$815K	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7158	+0.070%	$2K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7157	+0.049%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7155	+0.033%	$53K	$246K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7156	+0.043%	$18K	$505	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0297% / S −0.0228%	1h	0.7160	+0.099%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7150	−0.042%	$818K	$790K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0472%	1h	0.7203	+0.699%	$196K	$95K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0525%	1h	0.7170	+0.234%	$536K	$544K	50x	as long as short