Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.5% APRpaid last 24h −0.116%

Price spread now: OKX against Backpack−0.058%7-day average −0.085% · you buy dearer than you sell

Net, funding: paid 7d − costs−$147as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$790.792% of the position

Long on Backpack Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.677%−$68 on $10k

Price spread, last 4 days (all we have)+0.046%+$5 · spread now −0.058%, 7d avg −0.085%

Together, before fees−0.632%−$63 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.027% dearer against Backpack than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack VVV_USDC_PERP	32.079	0.0104	pay 0.0013% / 1h	42m 01s	$124K	$333K	5x
Short	OKX VVV-USDT-SWAP	32.060	0.0100	get 0.0050% / 4h	3h 42m	$4.7M	$41.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.058%Rate

Funding earned: −$0.92
Price spread: −0.058% → −0.085%: $2.66
Slippage, 4 orders: −$59.18
Fee Backpack: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$77.44
Costs to cover: 0.792%
Break-even: never at this rate

Slippage from Backpack: live order book, 32 min ago; OKX: live order book, 2 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, 32 min ago	3.50 bp	20.1 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	1.56 bp	19.2 bp −$19	71.7 bp −$717	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
Polymarket Perps VVV-USD	−0.0289%	1h	32.046	−0.102%	$146K	$1.2M	3x	as long as short
01 Exchange VVVUSD	−0.0096%	1h	32.067	−0.036%	$11K	$3K	3x	as long as short
RISEx VVV/USDC	−0.0015%	1h	32.064	−0.045%	$394K	$602K	5x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	32.100	+0.066%	$109K	$6.7M	1.7x	as long as short
Phoenix VVV	0.0000%	1h	32.014	−0.202%	$56K	$298K	5x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.082	+0.009%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.311%	$2K	$1K	5.5x	as long as short
Gate VVV_USDT	+0.0070%	4h	32.037	−0.130%	$10.8M	$7.3M	25x	as long as short
BloFin VVV-USDT	+0.0095%	4h	32.091	+0.038%	$1.3M	$1.8M	25x	as long as short
Lighter VVV	+0.0096%	1h	32.036	−0.132%	$2.2M	$5.9M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH VVV	+0.0096%	1h	32.029	−0.155%	$476K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.067	−0.035%	$126K	$850K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	32.081	+0.007%	$74.3M	$55.2M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.076	−0.008%	$262K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.092	+0.042%	$192K	$191K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.065	−0.041%	$33.7M	$155.1M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.058	−0.064%	$39.4M	$51.6M	20x	as long as short
OKX VVV-USDT-SWAPshort	+0.0100%	4h	32.060	−0.058%	$4.7M	$41.8M	20x
MEXC VVV_USDT	+0.0100%	4h	32.080	+0.004%	$6.5M	$6.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.090	+0.035%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.041	−0.118%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.064	−0.046%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.110	+0.096%	$2.1M	$187K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	32.066	−0.040%	$2K	$2K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.066	−0.040%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.061	−0.054%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.054	−0.076%	$302K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.065	−0.043%	$6K	—	3x	as long as short
Backpack VVV_USDC_PERPlong	+0.0104%	1h	32.079	long leg	$124K	$333K	5x
edgeX VVVUSDC	+0.0117%	4h	32.009	−0.217%	$80K	$335K	10x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0179% / S +0.0120%	1h	32.065	−0.041%	$580K	—	100x	as long as short
Deribit VVV_USDC-PERPETUAL	+0.0208%	1h	32.077	−0.004%	$91K	$23K	10x	as long as short
Coinbase International VVV-PERP-INTX	+0.0320%	1h	32.051	−0.086%	$241K	$1.3M	25x	as long as short