Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.018%

Price spread now: Variational Omni against KuCoin−0.079%7-day average −0.040% · you buy dearer than you sell

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

Long on KuCoin Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.018%−$2 on $10k

Price spread, last 4 days (all we have)+0.638%+$64 · spread now −0.079%, 7d avg −0.040%

Together, before fees+0.621%+ Points / potential airdropVariational Omni: Active · farm board+$62 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: Variational Omni is 0.039% cheaper against KuCoin than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin VIRTUALUSDTM	0.7249	0.0100	pay 0.0050% / 4h	2h 22m	$3.0M	$4.5M	50x
Short	Variational Omni VIRTUAL	0.7243	0.0100	get 0.0050% / 4h	2h 22m	$539K	$909K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.079%Rate

Funding earned: $0
Price spread: −0.079% → −0.040%: −$3.9
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$15.9
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 1 min ago; Variational Omni: RFQ quote, 47 min ago. 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, 1 min ago	3.45 bp	24.4 bp −$24	61.1 bp −$611	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 47 min ago	4.06 bp	doesn't fit	21.7 bp −$217	doesn't fit	doesn't fit

VIRTUAL on 32 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	0.7249	+0.005%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0080%	1h	0.7246	−0.041%	$2K	$131	10x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	−0.0026%	1h	0.7243	−0.083%	$15K	$40K	10x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0001%	1h	0.7246	−0.046%	$4K	—	150x	as long as short
Phoenix VIRTUAL	+0.0011%	1h	0.7260	+0.146%	$11K	$46K	5x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.821%	$46	$88K	5.5x	as long as short
Lighter VIRTUAL	+0.0080%	1h	0.7238	−0.149%	$329K	$415K	5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0089%	4h	0.7242	−0.097%	$14K	$1.5M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7244	−0.076%	$8.9M	$4.1M	5x	as long as short
Aster VIRTUALUSDT	+0.0100%	4h	0.7246	−0.042%	$98K	$296K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7252	+0.042%	$71K	$45K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7232	−0.240%	$16.5M	$41.5M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7227	−0.303%	$16.6M	$18.4M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7224	−0.345%	$2.9M	$10.0M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7248	−0.014%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7237	−0.166%	$17.6M	$4.3M	100x	as long as short
KuCoin VIRTUALUSDTMlong	+0.0100%	4h	0.7249	long leg	$3.0M	$4.5M	50x
Bitget VIRTUALUSDT	+0.0100%	4h	0.7243	−0.083%	$6.2M	$6.0M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7237	−0.166%	—	$8.1M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7241	−0.110%	$244K	$170K	10x	as long as short
Variational Omni VIRTUALshort	+0.0100%	4h	0.7243	−0.079%	$539K	$909K	—
edgeX VIRTUALUSDC	+0.0100%	4h	0.7240	−0.129%	$19K	$259K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7244	−0.063%	$643K	$888K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7256	+0.097%	$41K	$240K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7257	+0.105%	$52K	$1.2M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7244	−0.069%	$2K	$1.4M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7239	−0.141%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7240	−0.126%	$57K	$275K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7242	−0.095%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0300% / S −0.0228%	1h	0.7246	−0.046%	$31K	—	100x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7261	+0.166%	$190K	$101K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.1018%	1h	0.7251	+0.025%	$599K	$668K	50x	as long as short