VVV

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0089%/8h= +9.8% APRnext payment +$0.11 per $10,000 · paid last 24h +0.126%

Price spread now: Backpack against Coinbase International−0.359%7-day average +0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$136as in the Price arb table

costs, in and out, $10k−$930.934% of the position

Long on Coinbase International Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.591%+$59 on $10k

Price spread, last 3 days (all we have)+0.933%+$93 · spread now −0.359%, 7d avg +0.071%

Together, before fees+1.524%+$152 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.430% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.359% now, against its 7-day average of +0.071%). If the spread goes back, that is −$43 on $10k: about 16 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.591% in total) that is about 5.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International VVV-PERP-INTX	32.185	0.0144	pay 0.0018% / 1h	21m 11s	$226K	$1.3M	25x
Short	Backpack VVV_USDC_PERP	32.070	0.0233	get 0.0029% / 1h	21m 11s	$121K	$375K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Coinbase International. 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 Coinbase InternationalbpFee BackpackbpOrdersPrice spread, now −0.359%Rate

Funding earned: $18.74
Price spread: −0.359% → +0.071%: −$43.05
Slippage, 4 orders: −$73.37
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$117.69
Costs to cover: 0.934%
Break-even: 51.0 days

Slippage from Coinbase International: live order book, 2 min ago; Backpack: live order book, 62 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 Coinbase International live order book, 2 min ago	26.53 bp	32.5 bp −$32	36.3 bp −$363	doesn't fit	doesn't fit
Sell Backpack live order book, 62 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	−0.0068%	1h	32.097	−0.274%	$91K	$23K	10x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	32.189	+0.012%	$106K	$6.9M	1.7x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.111	−0.229%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+1.972%	$2K	$1K	5.5x	as long as short
BloFin VVV-USDT	+0.0095%	4h	32.096	−0.277%	$1.4M	$1.8M	25x	as long as short
Lighter VVV	+0.0096%	1h	32.128	−0.178%	$2.3M	$5.5M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.102	−0.259%	$477K	$1.6M	5x	as long as short
Phoenix VVV	+0.0098%	1h	32.033	−0.473%	$56K	$294K	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.111	−0.231%	$148K	$783K	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.117	−0.213%	$264K	$1.9M	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VVV	+0.0100%	1h	32.192	+0.022%	$185K	$183K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.095	−0.281%	$33.6M	$157.6M	25x	as long as short
Bybit VVVUSDT	+0.0100%	4h	32.063	−0.378%	$39.5M	$52.8M	20x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.059	−0.392%	$4.7M	$42.6M	20x	as long as short
Gate VVV_USDT	+0.0100%	4h	32.056	−0.401%	$10.8M	$7.8M	25x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.100	−0.265%	$6.2M	$7.1M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.139	−0.144%	$2.0M	$2.9M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.042	−0.445%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDT	+0.0100%	4h	32.061	−0.386%	—	$5.5M	—	as long as short
Variational Omni VVV	+0.0100%	4h	32.077	−0.335%	$2.1M	$183K	—	as long as short
Polymarket Perps VVV-USD	+0.0100%	1h	32.104	−0.252%	$138K	$1.2M	3x	as long as short
Derive VVV-PERP	+0.0100%	1h	32.108	−0.240%	$1K	$1K	5x	as long as short
Phemex VVVUSDT	+0.0100%	4h	32.105	−0.249%	$2.1M	$2.1M	50x	as long as short
Paradex VVV-USD-PERP	+0.0100%	8h	32.143	−0.130%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.094	−0.283%	$317K	$1.6M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.116	−0.215%	$6K	$13K	3x	as long as short
edgeX VVVUSDC	+0.0113%	4h	32.073	−0.349%	$80K	$332K	10x	as long as short
Coinbase International VVV-PERP-INTXlong	+0.0144%	1h	32.185	long leg	$226K	$1.3M	25x
RISEx VVV/USDC	+0.0175%	1h	32.124	−0.191%	$394K	$598K	5x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0187% / S +0.0167%	1h	32.096	−0.276%	$618K	—	100x	as long as short
Backpack VVV_USDC_PERPshort	+0.0233%	1h	32.070	−0.359%	$121K	$375K	5x
Hyperliquid VVV	+0.0374%	1h	32.086	−0.308%	$74.5M	$56.1M	3x	as long as short
01 Exchange VVVUSD	+0.0376%	1h	32.117	−0.212%	$11K	$3K	3x	as long as short