Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0369%/8h= +40.4% APRpaid last 24h +0.085%

Price spread now: Backpack against BingX+0.114%7-day average +0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs+$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$570.571% of the position

Long on BingX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.630%+$63 on $10k

Price spread, last 4 days (all we have)−0.082%−$8 · spread now +0.114%, 7d avg +0.065%

Together, before fees+0.548%+$55 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Backpack is 0.049% dearer against BingX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX VVV-USDT	32.524	0.0100	pay 0.0050% / 4h	1h 56m	—	$5.4M	—
Short	Backpack VVV_USDC_PERP	32.561	0.0469	get 0.0059% / 1h	56m 08s	$125K	$377K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against BingX. 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 BingXbpFee BackpackbpOrdersPrice spread, now +0.114%Rate

Funding earned: $77.39
Price spread: +0.114% → +0.065%: $4.92
Slippage, 4 orders: −$37.13
Fee BingX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: $25.17
Costs to cover: 0.571%
Break-even: 4.7 days

Slippage from BingX: live order book, 9 min ago; Backpack: 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 BingX live order book, 9 min ago	0.46 bp	13.6 bp −$14	30.4 bp −$304	247.0 bp −$24.7K	602.9 bp −$301.5K
Sell Backpack live order book, 28 min ago	3.23 bp	16.4 bp −$16	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	−0.0002%	1h	32.514	−0.029%	$92K	$23K	10x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	32.560	+0.111%	$107K	$6.8M	1.7x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.519	−0.015%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+0.910%	$2K	$1K	5.5x	as long as short
Phoenix VVV	+0.0077%	1h	32.498	−0.080%	$57K	$291K	5x	as long as short
Lighter VVV	+0.0096%	1h	32.544	+0.061%	$2.2M	$5.4M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.523	−0.003%	$486K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.494	−0.092%	$150K	$781K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.526	+0.005%	$276K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.514	−0.030%	$193K	$176K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VVVUSDT	+0.0100%	4h	32.519	−0.014%	$34.3M	$155.7M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.495	−0.089%	$40.0M	$52.3M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.522	−0.006%	$4.8M	$42.8M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.502	−0.068%	$11.0M	$7.7M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.538	+0.043%	$17.6M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.531	+0.022%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.515	−0.028%	$5.9M	$8.8M	20x	as long as short
BingX VVV-USDTlong	+0.0100%	4h	32.524	long leg	—	$5.4M	—
Variational Omni VVV	+0.0100%	4h	32.611	+0.268%	$2.1M	$180K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.492	−0.098%	$151K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.511	−0.039%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.492	−0.098%	$2.1M	$2.0M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.507	−0.053%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.523	−0.002%	$321K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.516	−0.023%	$7K	$13K	3x	as long as short
BloFin VVV-USDT	+0.0112%	4h	32.521	−0.009%	$1.4M	$1.8M	25x	as long as short
edgeX VVVUSDC	+0.0112%	4h	32.506	−0.057%	$81K	$330K	10x	as long as short
Coinbase International VVV-PERP-INTX	+0.0144%	1h	32.490	−0.105%	$200K	$1.1M	25x	as long as short
RISEx VVV/USDC	+0.0175%	1h	32.490	−0.105%	$404K	$582K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0191% / S +0.0097%	1h	32.520	−0.013%	$567K	—	100x	as long as short
Backpack VVV_USDC_PERPshort	+0.0469%	1h	32.561	+0.114%	$125K	$377K	5x
01 Exchange VVVUSD	+0.0616%	1h	32.531	+0.022%	$12K	$3K	3x	as long as short
Hyperliquid VVV	+0.0830%	1h	32.556	+0.098%	$75.4M	$55.3M	3x	as long as short