Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0059%/8h= −6.5% APRpaid last 24h −0.115%

Price spread now: KuCoin against Backpack−0.101%7-day average −0.100% · you buy dearer than you sell

Net, funding: paid 7d − costs−$180as in the Funding arb table

Net, price: spread back to 7d avg − costs−$112as in the Price arb table

costs, in and out, $10k−$1121.118% of the position

Long on Backpack Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.686%−$69 on $10k

Price spread, last 4 days (all we have)+0.001%$0 · spread now −0.101%, 7d avg −0.100%

Together, before fees−0.685%−$69 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.100%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack VVV_USDC_PERP	32.242	0.0159	pay 0.0020% / 1h	55m 44s	$122K	$361K	5x
Short	KuCoin VVVUSDTM	32.209	0.0100	get 0.0050% / 4h	55m 44s	$2.0M	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.101%Rate

Funding earned: −$12.49
Price spread: −0.101% → −0.100%: −$0.08
Slippage, 4 orders: −$89.84
Fee Backpack: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$124.41
Costs to cover: 1.118%
Break-even: never at this rate

Slippage from Backpack: live order book, 23 min ago; KuCoin: 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, 23 min ago	2.36 bp	17.8 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 1 min ago	7.31 bp	47.3 bp −$47	232.2 bp −$2,322	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
Kalshi KXVVVPERP	0.0000%	8h	32.159	−0.256%	$113K	$6.9M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.220	−0.066%	$91K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.203	−0.121%	$19K	—	150x	as long as short
Polymarket Perps VVV-USD	+0.0009%	1h	32.174	−0.209%	$146K	$1.2M	3x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.794%	$2K	$1K	5.5x	as long as short
RISEx VVV/USDC	+0.0040%	1h	32.224	−0.054%	$396K	$604K	5x	as long as short
01 Exchange VVVUSD	+0.0088%	1h	32.191	−0.157%	$12K	$3K	3x	as long as short
Lighter VVV	+0.0096%	1h	32.221	−0.063%	$2.3M	$5.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.201	−0.126%	$478K	$1.6M	5x	as long as short
BloFin VVV-USDT	+0.0098%	4h	32.195	−0.144%	$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
Phoenix VVV	+0.0098%	1h	32.054	−0.582%	$56K	$299K	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.204	−0.115%	$125K	$796K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	32.238	−0.011%	$74.6M	$56.0M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.231	−0.033%	$265K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.233	−0.027%	$193K	$191K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.221	−0.063%	$33.7M	$157.1M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.210	−0.098%	$39.5M	$52.6M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.221	−0.064%	$4.7M	$42.8M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.216	−0.079%	$10.8M	$7.5M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.226	−0.048%	$6.3M	$7.0M	50x	as long as short
KuCoin VVVUSDTMshort	+0.0100%	4h	32.209	−0.101%	$2.0M	$2.8M	20x
Bitget VVVUSDT	+0.0100%	4h	32.210	−0.098%	$5.9M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.235	−0.020%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.134	−0.333%	$2.1M	$183K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	32.214	−0.086%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.216	−0.079%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.228	−0.041%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.221	−0.064%	$323K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.201	−0.124%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0114%	4h	32.042	−0.619%	$80K	$332K	10x	as long as short
Backpack VVV_USDC_PERPlong	+0.0159%	1h	32.242	long leg	$122K	$361K	5x
GMX VVV/USD [ETH-USDC]	L +0.0184% / S +0.0170%	1h	32.192	−0.153%	$619K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0192%	1h	32.193	−0.150%	$242K	$1.4M	25x	as long as short