Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.045%

Price spread now: Lighter against Bybit−0.008%7-day average +0.121% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$740.740% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.437%+$44 on $10k

Price spread, last 7 days+0.090%+$9 · spread now −0.008%, 7d avg +0.121%

Together, before fees+0.528%+ Points / potential airdropLighter: Season 3 · farm board+$53 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: Lighter is 0.130% cheaper against Bybit than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.121%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit VVVUSDT	31.365	0.0100	pay 0.0050% / 4h	1h 37m	$38.5M	$41.6M	20x
Short	Lighter VVV	31.362	0.0096	get 0.0012% / 1h	37m 00s	$2.0M	$4.5M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.008%Rate

Funding earned: −$0.84
Price spread: −0.008% → +0.121%: −$12.96
Slippage, 4 orders: −$63.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$87.82
Costs to cover: 0.740%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Lighter: live order book, 6 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	20.6 bp −$21	45.2 bp −$452	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	13.84 bp	14.1 bp −$14	59.8 bp −$598	1290.0 bp −$129.0K	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
Coinbase International VVV-PERP-INTX	−0.0088%	1h	31.354	−0.035%	$186K	$1.3M	25x	as long as short
RISEx VVV/USDC	−0.0085%	1h	31.366	+0.002%	$385K	$646K	5x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	31.406	+0.131%	$87K	$5.6M	1.7x	as long as short
Deribit VVV_USDC-PERPETUAL	0.0000%	1h	31.366	+0.003%	$87K	$22K	10x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0003%	1h	31.431	+0.211%	$22K	—	150x	as long as short
01 Exchange VVVUSD	+0.0008%	1h	31.375	+0.032%	$11K	$3K	3x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+4.639%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0057%	4h	31.388	+0.073%	$1.4M	$1.5M	25x	as long as short
Lighter VVVshort	+0.0096%	1h	31.362	−0.008%	$2.0M	$4.5M	5x
Lighter RH VVV	+0.0096%	1h	31.374	+0.029%	$461K	$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	31.370	+0.016%	$3K	$73	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	31.402	+0.120%	$163K	$896K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	31.421	+0.179%	$70.6M	$47.7M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	31.392	+0.085%	$249K	$1.0M	10x	as long as short
Pacifica VVV	+0.0100%	1h	31.393	+0.091%	$185K	$128K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	31.392	+0.088%	$33.9M	$121.2M	25x	as long as short
Bybit VVVUSDTlong	+0.0100%	4h	31.365	long leg	$38.5M	$41.6M	20x
OKX VVV-USDT-SWAP	+0.0100%	4h	31.407	+0.134%	$4.9M	$31.0M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	31.375	+0.032%	$11.2M	$5.4M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	31.404	+0.124%	$6.7M	$5.6M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	31.393	+0.089%	$1.8M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	31.382	+0.054%	$5.7M	$7.1M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	31.390	+0.080%	—	$4.9M	—	as long as short
Variational Omni VVV	+0.0100%	4h	31.470	+0.336%	$2.0M	$352K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	31.376	+0.035%	$122K	$1.4M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	31.468	+0.328%	$3K	$3K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	31.377	+0.038%	$2.0M	$2.1M	50x	as long as short
Extended VVV-USD	+0.0104%	1h	31.397	+0.101%	$301K	$2.2M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	31.400	+0.111%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0118%	4h	31.468	+0.329%	$78K	$331K	10x	as long as short
Phoenix VVV	+0.0307%	1h	31.505	+0.446%	$33K	$232K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0428% / S −0.0201%	1h	31.380	+0.047%	$502K	—	100x	as long as short
Backpack VVV_USDC_PERP	+0.0472%	1h	31.416	+0.163%	$151K	$265K	5x	as long as short