VVV

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0408%/8h= −44.6% APRnext payment −$0.51 per $10,000 · paid last 24h −0.079%

Price spread now: Lighter RH against Backpack−0.061%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

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

costs, in and out, $10k−$470.466% of the position

Long on Backpack Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.156%−$16 on $10k

Price spread, last 4 days (all we have)+0.176%+$18 · spread now −0.061%, 7d avg +0.015%

Together, before fees+0.020%+ Points / potential airdropLighter RH: Points live · farm board+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Lighter RH is 0.075% cheaper against Backpack than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.015%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.156% in total (about -8.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.51 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack VVV_USDC_PERP	31.488	0.0504	pay 0.0063% / 1h	38m 58s	$150K	$264K	5x
Short	Lighter RH VVV	31.469	0.0096	get 0.0012% / 1h	38m 58s	$462K	$1.6M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.061%Rate

Funding earned: −$85.59
Price spread: −0.061% → +0.015%: −$7.52
Slippage, 4 orders: −$36.6
Fee Backpack: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$139.7
Costs to cover: 0.466%
Break-even: never at this rate

Slippage from Backpack: live order book, 4 min ago; Lighter RH: live order book, 4 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, 4 min ago	2.62 bp	12.4 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Lighter RH live order book, 4 min ago	3.18 bp	10.9 bp −$11	27.3 bp −$273	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
Coinbase International VVV-PERP-INTX	−0.0088%	1h	31.588	+0.316%	$190K	$1.3M	25x	as long as short
RISEx VVV/USDC	−0.0085%	1h	31.455	−0.106%	$386K	$646K	5x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.482	−0.019%	$87K	$5.6M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.468	−0.064%	$88K	$22K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0003%	1h	31.467	−0.067%	$23K	—	150x	as long as short
01 Exchange VVVUSD	+0.0016%	1h	31.472	−0.051%	$11K	$3K	3x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.230%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	31.447	−0.132%	$2.0M	$4.5M	5x	as long as short
Lighter RH VVVshort	+0.0096%	1h	31.469	−0.061%	$462K	$1.6M	5x
BloFin VVV-USDT	+0.0099%	4h	31.479	−0.029%	$1.4M	$1.5M	25x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex VVV-USD-PERP	+0.0100%	8h	31.476	−0.039%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.488	+0.001%	$163K	$896K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.496	+0.025%	$70.8M	$47.7M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.497	+0.028%	$250K	$1.0M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.486	−0.007%	$186K	$128K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.473	−0.047%	$33.9M	$121.2M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.438	−0.158%	$38.6M	$41.6M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.438	−0.159%	$4.9M	$31.0M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.463	−0.080%	$11.2M	$5.4M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.457	−0.099%	$6.7M	$5.6M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.474	−0.045%	$1.8M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.463	−0.080%	$5.7M	$7.1M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.461	−0.086%	—	$4.9M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.470	−0.056%	$2.0M	$352K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.462	−0.083%	$122K	$1.4M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	31.468	−0.064%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.475	−0.042%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.450	−0.122%	$301K	$2.2M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.479	−0.029%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0118%	4h	31.503	+0.047%	$78K	$331K	10x	as long as short
Phoenix VVV	+0.0307%	1h	31.505	+0.054%	$33K	$232K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0429% / S −0.0201%	1h	31.466	−0.070%	$503K	—	100x	as long as short
Backpack VVV_USDC_PERPlong	+0.0504%	1h	31.488	long leg	$150K	$264K	5x