Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0165%/8h= −18.1% APRpaid last 24h −0.090%

Price spread now: MEXC against Backpack−0.003%7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$390.391% of the position

Long on Backpack Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.615%−$61 on $10k

Price spread, last 4 days (all we have)−0.057%−$6 · spread now −0.003%, 7d avg −0.041%

Together, before fees−0.671%−$67 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.038% dearer against Backpack than usual: you sell high and buy low (spread −0.003% now, against its 7-day average of −0.041%): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack VVV_USDC_PERP	31.294	0.0265	pay 0.0033% / 1h	7m 19s	$121K	$316K	5x
Short	MEXC VVV_USDT	31.293	0.0100	get 0.0050% / 4h	2h 07m	$6.3M	$6.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.003%Rate

Funding earned: −$34.64
Price spread: −0.003% → −0.041%: $3.83
Slippage, 4 orders: −$29.15
Fee Backpack: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$69.96
Costs to cover: 0.391%
Break-even: never at this rate

Slippage from Backpack: live order book, 61 min ago; MEXC: live order book, just now.

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, 61 min ago	2.44 bp	14.7 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, just now	0.48 bp	5.3 bp −$5	62.2 bp −$622	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
RISEx VVV/USDC	−0.0111%	1h	31.273	−0.068%	$384K	$639K	5x	as long as short
Gate VVV_USDT	−0.0034%	4h	31.271	−0.073%	$10.5M	$7.1M	25x	as long as short
Polymarket Perps VVV-USD	−0.0025%	1h	31.278	−0.051%	$134K	$1.2M	3x	as long as short
Phoenix VVV	0.0000%	1h	31.344	+0.160%	$42K	$289K	5x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.320	+0.082%	$87K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0005%	1h	31.304	+0.034%	$20K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.877%	$2K	$1K	5.5x	as long as short
Lighter VVV	+0.0096%	1h	31.332	+0.120%	$2.1M	$5.6M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	31.314	+0.064%	$462K	$1.5M	5x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.274	−0.065%	$3K	$73	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado VVV-PERP	+0.0100%	1h	31.295	+0.005%	$130K	$849K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.301	+0.023%	$72.2M	$53.2M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.267	−0.086%	$253K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.291	−0.010%	$187K	$162K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.338	+0.140%	$33.3M	$148.0M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.314	+0.064%	$38.4M	$50.1M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.329	+0.112%	$4.7M	$39.2M	20x	as long as short
MEXC VVV_USDTshort	+0.0100%	4h	31.293	−0.003%	$6.3M	$6.9M	50x
KuCoin VVVUSDTM	+0.0100%	4h	31.243	−0.163%	$1.8M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.299	+0.016%	$5.7M	$8.5M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.313	+0.061%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.321	+0.085%	$2.0M	$185K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.310	+0.052%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.336	+0.135%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.315	+0.068%	$296K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.285	−0.027%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0107%	4h	31.228	−0.209%	$78K	$335K	10x	as long as short
Kalshi KXVVVPERP	+0.0109%	8h	31.283	−0.035%	$111K	$6.3M	1.7x	as long as short
01 Exchange VVVUSD	+0.0120%	1h	31.287	−0.022%	$11K	$3K	3x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0176% / S +0.0124%	1h	31.292	−0.006%	$563K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0208%	1h	31.333	+0.126%	$155K	$1.3M	25x	as long as short
Backpack VVV_USDC_PERPlong	+0.0265%	1h	31.294	long leg	$121K	$316K	5x