Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.009%

Price spread now: Kalshi against Bybit0.000%7-day average +0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$620.620% of the position

Long on Bybit Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.090%+$9 on $10k

Price spread, last 7 days+0.052%+$5 · spread now 0.000%, 7d avg +0.063%

Together, before fees+0.142%+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kalshi is 0.063% cheaper against Bybit than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.063%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.090%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit VVVUSDT	30.692	0.0100	pay 0.0050% / 4h	3h 52m	$38.2M	$42.6M	20x
Short	Kalshi KXVVVPERP	30.692	0	get 0.0000% / 8h	7h 52m	$104K	$5.6M	1.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi 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 KalshibpOrdersPrice spread, now 0.000%Rate

Funding earned: −$21
Price spread: 0.000% → +0.063%: −$6.27
Slippage, 4 orders: −$40.97
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$89.23
Costs to cover: 0.620%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Kalshi: 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 Bybit live order book, 2 min ago	0.16 bp	14.9 bp −$15	54.8 bp −$548	doesn't fit	doesn't fit
Sell Kalshi live order book, 2 min ago	4.87 bp	18.5 bp −$18	24.1 bp −$241	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
RISEx VVV/USDC	−0.0417%	1h	30.699	+0.021%	$376K	$642K	5x	as long as short
Polymarket Perps VVV-USD	−0.0117%	1h	30.671	−0.068%	$128K	$1.2M	3x	as long as short
Coinbase International VVV-PERP-INTX	−0.0088%	1h	30.832	+0.457%	$145K	$1.2M	25x	as long as short
Kalshi KXVVVPERPshort	0.0000%	8h	30.692	0.000%	$104K	$5.6M	1.7x
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	30.661	−0.101%	$85K	$24K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0002%	1h	30.682	−0.032%	$23K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+6.933%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0089%	4h	30.783	+0.296%	$1.3M	$1.6M	25x	as long as short
Lighter VVV	+0.0096%	1h	30.679	−0.041%	$2.0M	$5.1M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	30.707	+0.049%	$449K	$1.6M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex VVV-USD-PERP	+0.0100%	8h	30.707	+0.049%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	30.655	−0.121%	$141K	$873K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	30.715	+0.075%	$70.0M	$48.5M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	30.715	+0.076%	$246K	$1.1M	10x	as long as short
Pacifica VVV	+0.0100%	1h	30.737	+0.148%	$181K	$132K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	30.710	+0.059%	$32.9M	$127.6M	25x	as long as short
Bybit VVVUSDTlong	+0.0100%	4h	30.692	long leg	$38.2M	$42.6M	20x
OKX VVV-USDT-SWAP	+0.0100%	4h	30.712	+0.065%	$4.8M	$32.1M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	30.707	+0.049%	$10.3M	$5.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	30.686	−0.020%	$6.3M	$5.8M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	30.727	+0.114%	$1.9M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	30.709	+0.055%	$5.6M	$7.4M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	30.722	+0.098%	—	$5.0M	—	as long as short
Variational Omni VVV	+0.0100%	4h	30.745	+0.171%	$1.9M	$284K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	30.667	−0.083%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	30.709	+0.055%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	30.666	−0.085%	$292K	$1.9M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	30.709	+0.057%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0110%	4h	30.831	+0.454%	$77K	$333K	10x	as long as short
01 Exchange VVVUSD	+0.0128%	1h	30.726	+0.111%	$11K	$3K	3x	as long as short
Phoenix VVV	+0.0129%	1h	30.844	+0.495%	$32K	$257K	5x	as long as short
Backpack VVV_USDC_PERP	+0.0299%	1h	30.727	+0.112%	$121K	$249K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0426% / S −0.0174%	1h	30.677	−0.050%	$538K	—	100x	as long as short