Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0167%/8h= −18.2% APRpaid last 24h −0.090%

Price spread now: Binance against Backpack−0.379%7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$470.473% of the position

Long on Backpack Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.614%−$61 on $10k

Price spread, last 4 days (all we have)+0.382%+$38 · spread now −0.379%, 7d avg −0.040%

Together, before fees−0.231%−$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Binance is 0.339% cheaper against Backpack than usual: you would sell low and buy high (−$34 if the spread goes back to its 7-day average of −0.040%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack VVV_USDC_PERP	31.376	0.0267	pay 0.0033% / 1h	10m 34s	$121K	$316K	5x
Short	Binance VVVUSDT	31.257	0.0100	get 0.0050% / 4h	2h 10m	$33.2M	$148.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Backpack. 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 BackpackbpFee BinancebpOrdersPrice spread, now −0.379%Rate

Funding earned: −$34.99
Price spread: −0.379% → −0.040%: −$33.9
Slippage, 4 orders: −$27.28
Fee Backpack: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$116.16
Costs to cover: 0.473%
Break-even: never at this rate

Slippage from Backpack: live order book, 58 min ago; Binance: live order book, 3 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 Backpack live order book, 58 min ago	2.44 bp	14.7 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	0.16 bp	5.5 bp −$5	34.7 bp −$347	doesn't fit	doesn't fit

VVV 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
RISEx VVV/USDC	−0.0111%	1h	31.251	−0.398%	$384K	$641K	5x	as long as short
Gate VVV_USDT	−0.0054%	4h	31.227	−0.474%	$10.5M	$7.1M	25x	as long as short
Polymarket Perps VVV-USD	−0.0029%	1h	31.238	−0.439%	$133K	$1.2M	3x	as long as short
Phoenix VVV	0.0000%	1h	31.546	+0.542%	$42K	$289K	5x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.357	−0.059%	$87K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.335	−0.131%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.603%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	31.259	−0.371%	$2.1M	$5.6M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.293	−0.264%	$462K	$1.5M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.261	−0.366%	$3K	$73	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado VVV-PERP	+0.0100%	1h	31.233	−0.454%	$129K	$846K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.267	−0.347%	$72.1M	$53.8M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.307	−0.220%	$253K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.265	−0.355%	$187K	$162K	10x	as long as short
Binance VVVUSDTshort	+0.0100%	4h	31.257	−0.379%	$33.2M	$148.3M	25x
Bybit VVVUSDT	+0.0100%	4h	31.253	−0.391%	$38.3M	$50.3M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.248	−0.407%	$4.7M	$39.2M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.269	−0.340%	$6.3M	$6.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.218	−0.503%	$1.8M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.227	−0.474%	$5.6M	$8.5M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.264	−0.356%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.321	−0.176%	$2.0M	$185K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.354	−0.069%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.381	+0.017%	$2.0M	$2.1M	50x	as long as short
edgeX VVVUSDC	+0.0102%	4h	31.530	+0.492%	$78K	$336K	10x	as long as short
Extended VVV-USD	+0.0104%	1h	31.244	−0.421%	$296K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.314	−0.197%	$6K	—	3x	as long as short
Kalshi KXVVVPERP	+0.0111%	8h	31.379	+0.010%	$113K	$6.4M	1.7x	as long as short
01 Exchange VVVUSD	+0.0120%	1h	31.253	−0.391%	$11K	$3K	3x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0176% / S +0.0123%	1h	31.328	−0.153%	$567K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0208%	1h	31.333	−0.135%	$155K	$1.3M	25x	as long as short
Backpack VVV_USDC_PERPlong	+0.0267%	1h	31.376	long leg	$121K	$316K	5x