Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0134%/8h= +14.7% APRpaid last 24h +0.073%

Price spread now: Backpack against BloFin+0.109%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$530.527% of the position

Long on BloFin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.494%+$49 on $10k

Price spread, last 3 days (all we have)−0.294%−$29 · spread now +0.109%, 7d avg +0.018%

Together, before fees+0.200%+$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Backpack is 0.091% dearer against BloFin than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin VVV-USDT	31.374	0.0050	pay 0.0025% / 4h	2h 38m	$1.3M	$1.7M	25x
Short	Backpack VVV_USDC_PERP	31.408	0.0185	get 0.0023% / 1h	38m 52s	$119K	$379K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against BloFin. 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 BloFinbpFee BackpackbpOrdersPrice spread, now +0.109%Rate

Funding earned: $28.23
Price spread: +0.109% → +0.018%: $9.14
Slippage, 4 orders: −$30.74
Fee BloFin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$15.37
Costs to cover: 0.527%
Break-even: 10.8 days

Slippage from BloFin: live order book, 4 min ago; Backpack: live order book, 49 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 BloFin live order book, 4 min ago	0.16 bp	10.3 bp −$10	23.4 bp −$234	doesn't fit	doesn't fit
Sell Backpack live order book, 49 min ago	3.00 bp	11.3 bp −$11	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
01 Exchange VVVUSD	−0.0048%	1h	31.366	−0.025%	$11K	$3K	3x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.377	+0.010%	$117K	$6.8M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.373	−0.004%	$90K	$22K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	31.376	+0.005%	$18K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.609%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDTlong	+0.0050%	4h	31.374	long leg	$1.3M	$1.7M	25x
Polymarket Perps VVV-USD	+0.0059%	1h	31.345	−0.092%	$134K	$1.2M	3x	as long as short
Phoenix VVV	+0.0077%	1h	31.382	+0.025%	$55K	$292K	5x	as long as short
RISEx VVV/USDC	+0.0078%	1h	31.359	−0.048%	$384K	$572K	5x	as long as short
Lighter VVV	+0.0096%	1h	31.378	+0.011%	$2.2M	$5.4M	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	31.365	−0.029%	$462K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.370	−0.011%	$144K	$781K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.422	+0.153%	$71.7M	$54.1M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.389	+0.048%	$275K	$1.8M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.377	+0.010%	$186K	$176K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.389	+0.048%	$33.2M	$154.3M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	31.394	+0.064%	$38.7M	$51.7M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	31.404	+0.096%	$4.7M	$40.9M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.384	+0.032%	$10.6M	$7.7M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.389	+0.048%	$16.8M	$6.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.374	0.000%	$2.3M	$2.6M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.372	−0.006%	$5.7M	$8.6M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.398	+0.076%	—	$5.4M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.327	−0.149%	$2.1M	$184K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	31.369	−0.016%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.366	−0.025%	$2.1M	$2.0M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	31.354	−0.063%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	31.381	+0.021%	$312K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.381	+0.022%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0114%	4h	31.349	−0.079%	$78K	$330K	10x	as long as short
Backpack VVV_USDC_PERPshort	+0.0185%	1h	31.408	+0.109%	$119K	$379K	5x
Coinbase International VVV-PERP-INTX	+0.0232%	1h	31.325	−0.157%	$172K	$1.2M	25x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0442% / S −0.0195%	1h	31.373	−0.003%	$536K	—	100x	as long as short