Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.090%

Price spread now: BingX against Backpack−0.063%7-day average −0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$620.616% of the position

Long on Backpack Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.617%−$62 on $10k

Price spread, last 4 days (all we have)−0.002%$0 · spread now −0.063%, 7d avg −0.064%

Together, before fees−0.619%−$62 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack VVV_USDC_PERP	31.972	0.0104	pay 0.0013% / 1h	44m 10s	$124K	$336K	5x
Short	BingX VVV-USDT	31.952	0.0100	get 0.0050% / 4h	3h 44m	—	$5.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.063%Rate

Funding earned: −$0.81
Price spread: −0.063% → −0.064%: $0.06
Slippage, 4 orders: −$41.61
Fee Backpack: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$62.36
Costs to cover: 0.616%
Break-even: never at this rate

Slippage from Backpack: live order book, 29 min ago; BingX: live order book, 11 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, 29 min ago	3.50 bp	20.1 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 11 min ago	0.16 bp	12.4 bp −$12	38.6 bp −$386	221.7 bp −$22.2K	619.5 bp −$309.7K

VVV 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
Polymarket Perps VVV-USD	−0.0301%	1h	31.941	−0.098%	$146K	$1.2M	3x	as long as short
01 Exchange VVVUSD	−0.0080%	1h	31.950	−0.069%	$11K	$3K	3x	as long as short
Gate VVV_USDT	−0.0034%	4h	31.939	−0.104%	$10.7M	$7.3M	25x	as long as short
RISEx VVV/USDC	−0.0015%	1h	31.951	−0.065%	$393K	$601K	5x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	32.016	+0.137%	$107K	$6.7M	1.7x	as long as short
Phoenix VVV	0.0000%	1h	32.161	+0.591%	$56K	$298K	5x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.976	+0.011%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.652%	$2K	$1K	5.5x	as long as short
Deribit VVV_USDC-PERPETUAL	+0.0038%	1h	31.972	−0.001%	$91K	$23K	10x	as long as short
BloFin VVV-USDT	+0.0062%	4h	32.002	+0.093%	$1.3M	$1.8M	25x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter VVV	+0.0096%	1h	31.938	−0.106%	$2.2M	$5.9M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.935	−0.116%	$475K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.971	−0.005%	$125K	$850K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.976	+0.012%	$74.1M	$55.2M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.988	+0.049%	$261K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.028	+0.174%	$191K	$191K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.968	−0.012%	$33.6M	$155.5M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.966	−0.019%	$39.2M	$51.8M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.995	+0.071%	$4.7M	$41.8M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.964	−0.026%	$6.5M	$6.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.011	+0.121%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.933	−0.123%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDTshort	+0.0100%	4h	31.952	−0.063%	—	$5.5M	—
Variational Omni VVV	+0.0100%	4h	32.110	+0.430%	$2.1M	$187K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.954	−0.055%	$2K	$2K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.996	+0.074%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.943	−0.090%	$3K	$106	5x	as long as short
edgeX VVVUSDC	+0.0102%	4h	32.125	+0.478%	$80K	$335K	10x	as long as short
Backpack VVV_USDC_PERPlong	+0.0104%	1h	31.972	long leg	$124K	$336K	5x
Extended VVV-USD	+0.0104%	1h	31.949	−0.073%	$301K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.992	+0.061%	$6K	—	3x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0179% / S +0.0120%	1h	31.960	−0.037%	$578K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0320%	1h	31.953	−0.059%	$240K	$1.3M	25x	as long as short