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% APRpaid last 24h −0.014%

Price spread now: Polymarket Perps against KuCoin−0.017%7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$610.615% of the position

Long on KuCoin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.231%−$23 on $10k

Price spread, last 7 days+0.043%+$4 · spread now −0.017%, 7d avg −0.043%

Together, before fees−0.188%−$19 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: Polymarket Perps is 0.026% dearer against KuCoin than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin VIRTUALUSDTM	0.7134	0.0100	pay 0.0050% / 4h	19m 00s	$3.0M	$4.5M	50x
Short	Polymarket Perps VIRTUAL-USD	0.7133	0.0100	get 0.0013% / 1h	19m 00s	$45K	$1.1M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.017%Rate

Funding earned: $0
Price spread: −0.017% → −0.043%: $2.6
Slippage, 4 orders: −$41.46
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$58.86
Costs to cover: 0.615%
Break-even: never at this rate

Slippage from KuCoin: live order book, 9 min ago; Polymarket Perps: 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, 9 min ago	2.10 bp	29.1 bp −$29	60.1 bp −$601	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 4 min ago	2.67 bp	7.7 bp −$8	7.8 bp −$78	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
Kraken Futures PF_VIRTUALUSD	−0.0337%	1h	0.7140	+0.081%	$518K	$741K	50x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7134	−0.002%	$24	—	10x	as long as short
Variational Omni VIRTUAL	−0.0104%	4h	0.7100	−0.473%	$532K	$837K	—	as long as short
01 Exchange VIRTUALUSD	−0.0096%	1h	0.7136	+0.028%	$2K	$106	10x	as long as short
Phoenix VIRTUAL	−0.0067%	1h	0.7113	−0.301%	$11K	$36K	5x	as long as short
Lighter VIRTUAL	−0.0064%	1h	0.7128	−0.088%	$322K	$403K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0006%	1h	0.7135	+0.009%	$22K	—	150x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	+0.0030%	1h	0.7136	+0.028%	$15K	$40K	10x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.238%	$46	$88K	5.5x	as long as short
Bybit VIRTUALUSDT	+0.0056%	4h	0.7129	−0.070%	$16.2M	$18.8M	50x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_VIRTUAL_USDC	+0.0073%	4h	0.7135	+0.014%	$16K	$1.7M	10x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7134	+0.006%	$92K	$303K	20x	as long as short
Pacifica VIRTUAL	+0.0100%	1h	0.7130	−0.062%	$70K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7134	+0.006%	$16.1M	$42.1M	75x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7136	+0.028%	$2.9M	$10.0M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7135	+0.014%	$1.5M	$3.4M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7131	−0.042%	$15.6M	$5.3M	100x	as long as short
KuCoin VIRTUALUSDTMlong	+0.0100%	4h	0.7134	long leg	$3.0M	$4.5M	50x
Bitget VIRTUALUSDT	+0.0100%	4h	0.7133	−0.014%	$6.0M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7134	0.000%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7140	+0.084%	$236K	$175K	10x	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7105	−0.410%	$19K	$257K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7106	−0.387%	$633K	$1.1M	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7110	−0.336%	$40K	$235K	50x	as long as short
Polymarket Perps VIRTUAL-USDshort	+0.0100%	1h	0.7133	−0.017%	$45K	$1.1M	5x
SunX VIRTUAL-USDT	+0.0100%	4h	0.7129	−0.070%	$1K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7134	−0.007%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7133	−0.015%	$53K	$304K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7135	+0.015%	$18K	—	3x	as long as short
Hyperliquid VIRTUAL	+0.0302%	1h	0.7147	+0.177%	$8.8M	$3.8M	5x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0313% / S −0.0258%	1h	0.7133	−0.015%	$32K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7131	−0.042%	$786K	$1.0M	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0480%	1h	0.7170	+0.505%	$200K	$100K	50x	as long as short