Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0207%/8h= −22.7% APRpaid last 24h −0.074%

Price spread now: BloFin against Backpack−0.100%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$460.459% of the position

Long on Backpack Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.480%−$48 on $10k

Price spread, last 4 days (all we have)+0.463%+$46 · spread now −0.100%, 7d avg −0.018%

Together, before fees−0.017%−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and BloFin is 0.082% cheaper against Backpack than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.018%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack VVV_USDC_PERP	31.768	0.0352	pay 0.0044% / 1h	16m 50s	$125K	$286K	5x
Short	BloFin VVV-USDT	31.736	0.0145	get 0.0073% / 4h	1h 16m	$1.2M	$1.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.100%Rate

Funding earned: −$43.45
Price spread: −0.100% → −0.018%: −$8.23
Slippage, 4 orders: −$23.89
Fee Backpack: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$97.57
Costs to cover: 0.459%
Break-even: never at this rate

Slippage from Backpack: live order book, 47 min ago; BloFin: live order book, 1 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, 47 min ago	3.22 bp	13.7 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 1 min ago	0.16 bp	9.1 bp −$9	28.9 bp −$289	doesn't fit	doesn't fit

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
RISEx VVV/USDC	−0.0152%	1h	31.704	−0.201%	$399K	$643K	5x	as long as short
Gate VVV_USDT	−0.0008%	4h	31.726	−0.132%	$10.6M	$6.3M	25x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0002%	1h	31.707	−0.190%	$23K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+3.312%	$2K	$1K	5.5x	as long as short
Deribit VVV_USDC-PERPETUAL	+0.0056%	1h	31.719	−0.153%	$88K	$24K	10x	as long as short
Lighter VVV	+0.0096%	1h	31.741	−0.085%	$2.1M	$5.4M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.727	−0.128%	$470K	$1.5M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.722	−0.143%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.715	−0.165%	$147K	$848K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.782	+0.045%	$73.6M	$50.7M	3x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster VVVUSDT	+0.0100%	4h	31.743	−0.078%	$256K	$1.4M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.758	−0.031%	$190K	$135K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.749	−0.059%	$33.7M	$139.2M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.735	−0.104%	$39.0M	$45.7M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.777	+0.029%	$4.8M	$37.6M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.754	−0.043%	$6.4M	$6.7M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.728	−0.125%	$1.9M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.729	−0.122%	$5.8M	$8.0M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.764	−0.012%	—	$5.2M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.678	−0.284%	$2.0M	$241K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.714	−0.169%	$137K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	31.699	−0.215%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.700	−0.213%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.736	−0.099%	$300K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.727	−0.127%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0109%	4h	31.738	−0.095%	$79K	$335K	10x	as long as short
BloFin VVV-USDTshort	+0.0145%	4h	31.736	−0.100%	$1.2M	$1.7M	25x
Phoenix VVV	+0.0153%	1h	31.735	−0.103%	$37K	$264K	5x	as long as short
01 Exchange VVVUSD	+0.0168%	1h	31.756	−0.037%	$11K	$3K	3x	as long as short
Coinbase International VVV-PERP-INTX	+0.0168%	1h	31.655	−0.354%	$145K	$1.2M	25x	as long as short
Kalshi KXVVVPERP	+0.0171%	8h	31.730	−0.119%	$105K	$5.9M	1.7x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0174% / S +0.0126%	1h	31.706	−0.196%	$571K	—	100x	as long as short
Backpack VVV_USDC_PERPlong	+0.0352%	1h	31.768	long leg	$125K	$286K	5x