Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0357%/8h= −39.1% APRpaid last 24h −0.083%

Price spread now: edgeX against Backpack−0.171%7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$152as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$910.911% of the position

Long on Backpack Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.609%−$61 on $10k

Price spread, last 3 days (all we have)+0.156%+$16 · spread now −0.171%, 7d avg −0.046%

Together, before fees−0.453%+ Points / potential airdropedgeX: Active · farm board−$45 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and edgeX is 0.125% cheaper against Backpack than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.046%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack VVV_USDC_PERP	32.561	0.0469	pay 0.0059% / 1h	55m 22s	$125K	$377K	5x
Short	edgeX VVVUSDC	32.506	0.0112	get 0.0056% / 4h	1h 55m	$81K	$330K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.171%Rate

Funding earned: −$74.9
Price spread: −0.171% → −0.046%: −$12.52
Slippage, 4 orders: −$72.13
Fee Backpack: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$178.55
Costs to cover: 0.911%
Break-even: never at this rate

Slippage from Backpack: live order book, 28 min ago; edgeX: live order book, 28 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, 28 min ago	3.23 bp	12.9 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 28 min ago	0.94 bp	34.2 bp −$34	doesn't fit	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
Deribit VVV_USDC-PERPETUAL	−0.0055%	1h	32.495	−0.203%	$92K	$23K	10x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	32.560	−0.004%	$107K	$6.8M	1.7x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.506	−0.170%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+0.795%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0067%	4h	32.502	−0.182%	$1.4M	$1.8M	25x	as long as short
Phoenix VVV	+0.0077%	1h	32.539	−0.068%	$57K	$294K	5x	as long as short
Lighter VVV	+0.0096%	1h	32.500	−0.189%	$2.2M	$5.4M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.505	−0.173%	$485K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.516	−0.139%	$150K	$781K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.515	−0.142%	$276K	$1.8M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VVV	+0.0100%	1h	32.497	−0.197%	$193K	$176K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.500	−0.187%	$34.3M	$155.7M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.482	−0.243%	$40.0M	$52.3M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.496	−0.200%	$4.8M	$42.7M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.510	−0.157%	$11.0M	$7.7M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.516	−0.139%	$17.6M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.515	−0.142%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.515	−0.142%	$5.9M	$8.8M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.520	−0.127%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.467	−0.290%	$2.1M	$180K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.501	−0.185%	$150K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.488	−0.225%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.496	−0.200%	$2.1M	$2.0M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.500	−0.188%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.496	−0.201%	$321K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.511	−0.153%	$7K	$13K	3x	as long as short
edgeX VVVUSDCshort	+0.0112%	4h	32.506	−0.171%	$81K	$330K	10x
Coinbase International VVV-PERP-INTX	+0.0144%	1h	32.490	−0.219%	$200K	$1.1M	25x	as long as short
RISEx VVV/USDC	+0.0175%	1h	32.498	−0.193%	$402K	$583K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0191% / S +0.0097%	1h	32.501	−0.185%	$567K	—	100x	as long as short
Backpack VVV_USDC_PERPlong	+0.0469%	1h	32.561	long leg	$125K	$377K	5x
01 Exchange VVVUSD	+0.0600%	1h	32.546	−0.047%	$12K	$3K	3x	as long as short
Hyperliquid VVV	+0.0885%	1h	32.567	+0.018%	$75.5M	$55.3M	3x	as long as short