Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.122%

Price spread now: Backpack against Bybit+0.111%7-day average +0.120% · you sell dearer than you buy

Net, funding: paid 7d − costs+$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$700.700% of the position

Long on Bybit Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.746%+$75 on $10k

Price spread, last 4 days (all we have)−0.082%−$8 · spread now +0.111%, 7d avg +0.120%

Together, before fees+0.664%+$66 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit VVVUSDT	32.210	0.0100	pay 0.0050% / 4h	34m 35s	$39.5M	$52.5M	20x
Short	Backpack VVV_USDC_PERP	32.246	0.0100	get 0.0013% / 1h	34m 35s	$122K	$358K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bybit. 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 BybitbpFee BackpackbpOrdersPrice spread, now +0.111%Rate

Funding earned: $0
Price spread: +0.111% → +0.120%: −$0.9
Slippage, 4 orders: −$49.04
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$70.94
Costs to cover: 0.700%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Backpack: live order book, 44 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 Bybit live order book, 4 min ago	0.47 bp	19.1 bp −$19	55.5 bp −$555	doesn't fit	doesn't fit
Sell Backpack live order book, 44 min ago	2.36 bp	14.0 bp −$14	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
Kalshi KXVVVPERP	0.0000%	8h	32.147	−0.196%	$113K	$6.9M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	32.159	−0.158%	$91K	$23K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.156	−0.169%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.894%	$2K	$1K	5.5x	as long as short
RISEx VVV/USDC	+0.0040%	1h	32.217	+0.021%	$396K	$603K	5x	as long as short
Polymarket Perps VVV-USD	+0.0046%	1h	32.205	−0.016%	$147K	$1.2M	3x	as long as short
01 Exchange VVVUSD	+0.0064%	1h	32.225	+0.046%	$12K	$3K	3x	as long as short
Lighter VVV	+0.0096%	1h	32.239	+0.089%	$2.3M	$5.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.216	+0.018%	$479K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.237	+0.085%	$157K	$835K	3x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid VVV	+0.0100%	1h	32.259	+0.152%	$74.7M	$55.7M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.202	−0.025%	$264K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.235	+0.078%	$193K	$191K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.226	+0.049%	$33.7M	$156.9M	25x	as long as short
Bybit VVVUSDTlong	+0.0100%	4h	32.210	long leg	$39.5M	$52.5M	20x
OKX VVV-USDT-SWAP	+0.0100%	4h	32.226	+0.049%	$4.7M	$42.6M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.198	−0.038%	$10.8M	$7.5M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.218	+0.025%	$6.5M	$7.0M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.182	−0.087%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.203	−0.022%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.226	+0.049%	—	$5.5M	—	as long as short
Backpack VVV_USDC_PERPshort	+0.0100%	1h	32.246	+0.111%	$122K	$358K	5x
Variational Omni VVV	+0.0100%	4h	32.201	−0.029%	$2.1M	$183K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	32.163	−0.147%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.181	−0.090%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.221	+0.034%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.219	+0.028%	$323K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.156	−0.167%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0115%	4h	32.226	+0.049%	$80K	$333K	10x	as long as short
Phoenix VVV	+0.0124%	1h	32.236	+0.080%	$56K	$299K	5x	as long as short
BloFin VVV-USDT	+0.0149%	4h	32.165	−0.140%	$1.3M	$1.8M	25x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0181% / S +0.0172%	1h	32.152	−0.181%	$618K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0192%	1h	32.278	+0.210%	$242K	$1.3M	25x	as long as short