VVV

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0064%/8h= −7.0% APRnext payment −$0.08 per $10,000 · paid last 24h −0.115%

Price spread now: Coinbase International against Backpack+0.077%7-day average −0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$130as in the Funding arb table

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

costs, in and out, $10k−$720.717% of the position

Long on Backpack Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.579%−$58 on $10k

Price spread, last 3 days (all we have)−0.554%−$55 · spread now +0.077%, 7d avg −0.051%

Together, before fees−1.133%−$113 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.128% dearer against Backpack than usual: you sell high and buy low (spread +0.077% now, against its 7-day average of −0.051%): +$13 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 6.7 days. At the pace of the last 7 days (−0.579% in total) that is about 37 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack VVV_USDC_PERP	31.885	0.0272	pay 0.0034% / 1h	32m 50s	$123K	$319K	5x
Short	Coinbase International VVV-PERP-INTX	31.910	0.0208	get 0.0026% / 1h	32m 50s	$232K	$1.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.077%Rate

Funding earned: −$13.38
Price spread: +0.077% → −0.051%: $12.83
Slippage, 4 orders: −$51.69
Fee Backpack: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$72.23
Costs to cover: 0.717%
Break-even: never at this rate

Slippage from Backpack: live order book, 36 min ago; Coinbase International: 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, 36 min ago	2.44 bp	14.7 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	13.06 bp	18.1 bp −$18	27.7 bp −$277	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
Bybit VVVUSDT	−0.0138%	4h	31.882	−0.009%	$39.0M	$51.0M	20x	as long as short
RISEx VVV/USDC	−0.0111%	1h	31.854	−0.096%	$397K	$620K	5x	as long as short
Gate VVV_USDT	−0.0082%	4h	31.879	−0.019%	$10.7M	$7.1M	25x	as long as short
Polymarket Perps VVV-USD	−0.0061%	1h	31.866	−0.060%	$146K	$1.2M	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.913	+0.088%	$120K	$6.4M	1.7x	as long as short
Phoenix VVV	0.0000%	1h	31.859	−0.082%	$49K	$289K	5x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0005%	1h	31.869	−0.051%	$20K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.932%	$2K	$1K	5.5x	as long as short
01 Exchange VVVUSD	+0.0064%	1h	31.869	−0.050%	$11K	$3K	3x	as long as short
Lighter VVV	+0.0096%	1h	31.862	−0.071%	$2.2M	$5.6M	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH VVV	+0.0096%	1h	31.842	−0.135%	$470K	$1.5M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.891	+0.019%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.876	−0.028%	$127K	$844K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.883	−0.006%	$73.5M	$53.7M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.910	+0.078%	$259K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.904	+0.061%	$191K	$177K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.893	+0.024%	$33.9M	$150.6M	25x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.888	+0.009%	$4.7M	$40.5M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.896	+0.034%	$6.5M	$6.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.870	−0.047%	$1.8M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.871	−0.044%	$5.7M	$8.6M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.901	+0.050%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.679	−0.647%	$2.1M	$185K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.877	−0.024%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.874	−0.034%	$2.1M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.883	−0.006%	$302K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.880	−0.014%	$6K	—	3x	as long as short
Deribit VVV_USDC-PERPETUAL	+0.0105%	1h	31.884	−0.003%	$89K	$24K	10x	as long as short
edgeX VVVUSDC	+0.0108%	4h	31.831	−0.168%	$79K	$336K	10x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0176% / S +0.0122%	1h	31.874	−0.034%	$576K	—	100x	as long as short
Coinbase International VVV-PERP-INTXshort	+0.0208%	1h	31.910	+0.077%	$232K	$1.2M	25x
Backpack VVV_USDC_PERPlong	+0.0272%	1h	31.885	long leg	$123K	$319K	5x